Nanophase Technologies Falls on Outlook

Updated from 8:51 a.m.

Nanophase Technologies (NANX Quote) was down 16.3% in midafternoon trading.

The maker of nanocrystalline materials for industry lowered its second-quarter and full-year revenue forecasts late Friday. Nanophase said it expects second-quarter revenue between $1.1 million and $1.2 million, about $500,000 below previous expectations and nearly flat with the year-ago period.

Yearly revenue is estimated to be $2 million to $2.5 million lower than its previous estimate of $10 million.

Nanophase said a European customer was unable to meet a purchasing commitment in the second quarter of fiscal 2001.