Nanotech Security Increases Revenues 127 Percent in Q3

Nanotech Security (TSXV:NTS) recently reported its financial results for the third quarter and nine months ended June 30 2015.
As quoted in the press release, highlights from the quarter included:

– Revenue increased by 127% to $1.4 million. The Fortress Optical acquisition contributed its third full quarter, delivering revenues of $865,000.
– Gross margin improved to 51% versus 31% in the same period last year. This quarter’s improvement reflects a mix of higher margin Security Features orders related to the Fortress Optical acquisition.
– Received follow-on optical thin film (“OTF”) order of $560,000. The Company received and delivered an additional order for banknotes, following the successful delivery of a similarly sized order in Q2.
-Successful customer visits stemming from Vancouver Currency Conference. Management has had positive meetings with several issuing authorities and prominent banknote industry suppliers to showcase Nanotech’s latest security features at the Company’s new corporate office and lab in Burnaby, B.C.
– Demonstrated KolourOptik(TM) security feature on metal coins. The Company successfully applied nanotechnology images to metal coins in a production environment at an issuing mint.
– Granted two new patents expanding the growing IP portfolio. One relates to the Company’s next generation nanotechnology authentication features, and the other provides increased protection for OTF.
– Signed an additional banknote security feature development contract. The contract was with another top ten issuing authority to develop a unique optically-variable security feature for incorporation into future banknotes and is valued in the low six figures. It is expected to be completed over the next six months.

Click here for the full press release.