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COLUMBUS, Ohio, Sept. 06, 2018 (GLOBE NEWSWIRE) -- SCI Engineered Materials, Inc. (“SCI”) (SCIA: OTCQB), a global supplier and manufacturer of advanced materials for physical vapor deposition thin film applications who works closely with end users and OEMs to develop innovative, customized solutions, today announced it expects revenue for the second half of 2018 to be substantially higher, rather than similar, as previously disclosed on August 1, 2018, and also expects record net income for the full-year 2018.
Gerald Blaskie, Vice President and Chief Financial Officer, stated, “Revenue for the second half of 2018 is anticipated to be at least $1.1 million or 25% higher than the first half of this year and could increase further based on forecasts received from our customers. Backlog has continued to increase since June 30, 2018, and includes a few new substantial orders involving relatively low margin business. A majority of those orders are expected to ship before year-end 2018. Additionally, we anticipate second half 2018 net income to be similar to the first half of this year and contribute to record net income for the full-year 2018.”
About SCI Engineered Materials, Inc.
SCI Engineered Materials is a global supplier and manufacturer of advanced materials for PVD thin film applications that works closely with end user and OEMs to develop innovative, customized solutions. Additional information is available at
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This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Those statements include, but are not limited to, all statements regarding intent, beliefs, expectations, projections, customer guidance, forecasts, and plans of the Company and its management, and specifically includes expectation that revenue for the second half of 2018 will be at least $1.1 million or 25% higher than the first half of this year, backlog includes a few new substantial orders involving relative low margin business and a majority of those orders expected to be ship before year-end 2018, and current anticipation that second half 2018 net income will to be similar to the first half of this year and contribute to record net income for the full-year 2018. These forward-looking statements involve numerous risks and uncertainties, including, without limitation, other risks and uncertainties detailed from time to time in the Company's Securities and Exchange Commission filings, including the Company's Annual Report on Form 10-K for the year ended December 31, 2017. One or more of these factors have affected, and could in the future affect, the Company's projections. Therefore, there can be no assurances that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company, or any other persons, that the objectives and plans of the company will be achieved. All forward-looking statements made in this press release are based on information presently available to the management of the Company. The Company assumes no obligation to update any forward-looking statements.
Contact: Robert Lentz