Kronos Advanced Technologies (KNOS)

[Telephonics]

Kronos Issues First Quarter Results and Updates Business Activities
Tuesday November 15, 9:24 am ET


BELMONT, Mass., Nov. 15, 2005 (PRIMEZONE) -- Kronos Advanced Technologies, Inc. (OTC BB:KNOS.OB - News) President and Chief Executive Officer Daniel R. Dwight said today that significant advances were made during the first quarter ended Sept. 30, 2005, toward the development of its standalone air purification product with the receipt of shipment of pre-production prototypes from its contract manufacturer in Mexico and China.
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Mr. Dwight said that internal testing of the product has been completed and exceeded expected results under the protocol co-developed by Kronos and HoMedics, one if its residential consumer product partners, while IKEA, the home furnishings retailer, is testing a prototype product with Kronos' embedded technology for the residential market. ``At the same time, we have new commercial products in the pipeline for the automotive and airline markets,'' he stated.

For the first three months of fiscal 2006, the ramp-up in investment made by the Company's wholly owned subsidiary Kronos Air Technologies, Inc., for product development in consumer standalone product applications and residential and transportation embedded product applications, as well as for business development activities in expanding the Company's base of new potential strategic partners, led to an increase in operating expenses to $832,000 in the first quarter ended Sept. 30, 2005, compared with $504,000 in the corresponding period the year before. Revenues were $15,000 compared with $241,000, resulting in a net loss of $973,000 compared with $622,000 for the first quarter of 2004. The decrease in revenue is the result of an increased focus on residential and consumer application for the Company's proprietary air movement and purification technology, while relying less on military funded projects.

Details of the Company's results can be found in its quarterly report filed Nov. 14, 2005 on SEC Form 10-QSB, at or at http://www.sec.gov or at http://www.kronosati.com.

Mr. Dwight also provided a summary of the Company's business highlights for the first quarter.

Another of the usual fluff news releases. All noise which signifies nothing at all.