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UniPixel, Inc., a provider of performance engineered films to the touchscreen and flexible electronics markets, today announced preliminary revenue for its 2016 fourth quarter, ending December 31, 2016, of approximately $1.4 million, representing a sequential increase of 53% over the third quarter of 2016, ending September 30, 2016.
Of the $0.5 million increase, new product revenue was responsible for 84% of the increase and legacy products from 2015 comprised 16% of the increase.
Christine Russell, chief financial officer of UniPixel, said, "As the Company ramps production to fulfill 2016 design wins, we expect to see new product revenue increasingly dominate the upcoming quarters. In Q4 2016 the new designs were largely responsible for revenue increases, but revenue from legacy products was also up slightly over the prior quarter. We are seeing a revenue ramp that we expect will accelerate as we work our way through 2017. As we have discussed, the process of supplying customers with sensors in initial smaller volumes to use for short runs to tune their manufacturing process is later increased each month as they move towards volume production. This process can take six to nine months for the manufacturer to come to full volume production from the time they notify us that we have won the business."
UniPixel, Inc. develops and markets Performance Engineered Films for the touchscreen and flexible electronics markets. The Company's roll-to-roll electronics manufacturing process patterns fine line conductive elements on thin films. The company markets its technologies for touch panel sensor, cover glass replacement, and protective cover film applications under the XTouch™ and Diamond Guard™ brands.