PE pennies

[e-ore]

SCIA 1.01 x 1.07 worth a look on the very nice 10q out yesterday. New 52 week high today.

"The (10x) inventory increase was due to orders received during the first half of 2017 that are expected to ship during the second half of 2017. Much of the increase was at the request of customers and prepayment was received to cover the cost of the inventory."

For the six months ended June 30, 2017, we had total revenue of $3,283,414. This was an increase of $702,118, or 27.2%, compared to the six months ended June 30, 2016. Gross profit was $799,832 for the six months ended June 30, 2017 compared to $546,469 for the same six months in 2016. This was an increase of $253,363 or 46.4%. Gross profit as a percentage of revenue was 24.4% for the first six months of 2017 compared to 21.2% for the same period in 2016. Pricing and product mix in our photonics market contributed to the increased revenue and gross profit.

Operating expenses were $747,807 and $931,775 for the six months ended June 30, 2017 and 2016, respectively. This was a decrease of $183,968 or 19.7%. The decrease was primarily related to the restructuring of our sales department late in 2016 and additional cost cutting measures which were implemented during the second half of 2016.

We have new materials under development that may replace the Cadmium Sulfide buffer layer in Copper Indium Gallium Selenide (CIGS) solar cells. These materials are currently being tested at Case Western Reserve University. We continue to invest in developing new products for all of our markets including transparent conductive oxide systems for the thin film solar and display markets. We also have ongoing development efforts with our thin film battery materials and transparent electronic products. These efforts include accelerating time to market for those products and involve research and development expense.

For the six months ended June 30, 2017, we had net income after income taxes of $28,873 compared to a net loss of $408,190 for the six months ended June 30, 2016. This improvement was due to the increased gross profit and the reduction in operating expenses.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12205385