Nanophase reports 2020 financial results

ROMEOVILLE - Nanophase Technologies Corp., a maker of beauty and skin-protection products, Thursday reported financial results for its fiscal year 2020. Revenue for the full year was $17.1 million as compared to $12.5 million for the same period in 2019, the company said.

The company's Solésence beauty science product sales more than tripled between 2019 and 2020, said Jess Jankowski, president and CEO.

Net income for the full year 2020 was $1 million, or $0.03 per share, compared to a net loss of $3 million, or $0.08 per share, for 2019.

"We entered 2021 with purchase orders in excess of $12 million, a clear indication of growing market acceptance of our Solésence beauty science products and the potential repeatability of our volumes in the life science area, specifically medical diagnostics," Jankowski said.

"We have reached the point where our immediate focus has shifted from building new sales to further streamlining our production to accommodate more growth, a significant positive milestone," she added.