Thursday, August 10, 2017

Operating expenses for the second quarter of 2017, including R&D expenses, decreased to $3.3 million, from $3.5 million in the second quarter of 2016. Second quarter R&D expenses reflect a greater allocation of R&D resources to commercial R&D contract revenues partially offset by continuing investment in the Company’s direct patterning technology. SG&A expenses increased over the prior year period due largely to greater travel and professional services spending, including legal services, associated with our negotiations with prospective consumer electronics and volume manufacturing partners. Interest expense of $188 thousand in the second quarter of 2017 included a $158 thousand write-off of capitalized debt issuance costs associated with the expiration of an unsecured debt financing commitment.

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