Nanotechnology Now - Press Release: Nanophase Announces Record First Quarter Revenue

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Abstract:
Revenues Increase 45% Year-Over-Year; Largest Revenue Quarter in Company History

Nanophase Announces Record First Quarter Revenue

ROMEOVILLE, IL | Posted on April 11th, 2007

Nanophase Technologies (Nasdaq: NANX), a technology leader in nanomaterials and
advanced nanoengineered products, announced that first quarter 2007 revenue
was approximately $2.9 million (unaudited), representing 45% year-over-year
growth compared with first quarter 2006. This is the highest quarterly
revenue in the company's history, and the company's ninth consecutive
quarter of record annual quarter-over-quarter revenues.

"Nanophase started the new year with a solid pipeline of demand,
enabling us to continue the revenue growth experienced during 2006," stated
Joseph Cross, Nanophase's president and CEO. "This quarter's revenue is a
new benchmark for the company, exceeding our best quarter in 2006 by about
25%. We continue to ramp up production and have the capacity to absorb
higher production levels depending on product mix. We anticipate growth in
architectural and industrial coatings during 2007 and are optimistic about
the growth potential for several of our product lines. We also believe that
the momentum in our revenue underscores the effectiveness of our business
model."

During the quarter, Nanophase received an additional United States
patent, covering nanostructured polymeric compositions with enhanced
optical properties, for use in its industrial coatings business through the
Company's partnership with BYK Chemie, one of the world's leading suppliers
of additives for coatings, printing inks and plastics. Substantially
transparent, abrasion and wear-resistant nanoparticle coatings have
numerous potential applications in many commercial markets. BYK Chemie and
Nanophase continue working to develop new products based on this patented
technology for multiple applications in a variety of markets.

Nanophase noted that it was releasing revenue prior to its normal
earnings release schedule to accommodate the Company's planned discussions
during the NanoBusiness Alliance Investor Forum scheduled for April 15-17,
2007.

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About Nanophase Technologies Corporation
Nanophase Technologies Corporation (NANX), http://www.nanophase.com , is
a leader in nanomaterials technologies and provides nanoengineered
solutions for multiple industrial product applications. Using a platform of
patented and proprietary integrated nanomaterial technologies, the Company
creates products with unique performance attributes from two ISO 9001:2000
and ISO 14001 facilities. Nanophase delivers commercial quantity and
quality nanoparticles, coated nanoparticles, and nanoparticle dispersions
in a variety of media. The Company owns or licenses 18 United States and 48
foreign patents and patent applications. Information about Nanophase may be
found in the Company's public filings or on its website.
This press release contains words such as "expects", "shall", "will",
"believes" and similar expressions that are intended to identify
forward-looking statements within the meaning of the Safe Harbor Provisions
of the Private Securities Litigation Reform Act of 1995. Such statements in
this announcement are made based on the Company's current beliefs, known
events and circumstances at the time of publication, and as such, are
subject in the future to unforeseen risks and uncertainties that could
cause the Company's results of operations, performance and achievements to
differ materially from current expectations expressed in, or implied by,
these forward-looking statements. These risk and uncertainties include the
following: a decision by a customer to cancel a purchase order or supply
agreement in light of the Company's dependence on a limited number of key
customers; uncertain demand for, and acceptance of, the Company's
nanocrystalline materials; the Company's manufacturing capacity and product
mix flexibility in light of customer demand; the Company's limited
marketing experience; changes in development and distribution
relationships; the impact of competitive products and technologies; the
Company's dependence on patents and protection of proprietary information;
the resolution of litigation in which the Company may become involved; and
other risks described in the Company's Form 10K filed March 14, 2007, and
other filings with the Securities and Exchange Commission. In addition, the
Company's forward-looking statements could be affected by general industry
and market conditions and growth rates. Except as required by federal
securities laws, the Company undertakes no obligation to update or revise
these forward-looking statements to reflect new events, uncertainties or
other contingencies.