California Nanotechnologies Reports Record Financial Results

California Nanotechnologies (TSXV:CNO) announced its second quarter financial results with record revenues of US$749,000 for the quarter. In addition, the company reported record cash from operations reaching US$93,000, which was over 250 percent increase from its cash flow in the second quarter of 2018.

As quoted in the press release:

The record revenue for fiscal 2019 was associated with an increase in the larger programs utilizing the company’s Spark Plasma Sintering and Cryogenic Milling technologies, the addition of over a dozen new customers, as well an increase in track spike sales in our sports & recreation division as depicted above. “SPS and cryomilling programs from US National Laboratories and from our large aerospace customer were key contributors to Cal Nano’s growth in fiscal 2019 and will continue to play a key role moving through fiscal 2020” stated CEO Eric Eyerman. In accordance with this, Cal Nano is pleased to announce that it has received over $125,000 in orders from its large aerospace customer for continued SPS and cryomilling work.

In order to promote its Spark Plasma Sintering technology, Cal Nano exhibited at the Space Technology Expo in Pasadena, CA from May 20-22, 2019. “We were able to showcase our unique SPS capabilities to an advanced industry that uses a wide variety of materials that can be used in SPS, which will support the continued growth of Cal Nano” stated CEO Eric Eyerman.

Click here to read the full press release.