Research Frontiers Inc., a Woodbury maker of “smart glass” used in high-end automobiles and business jets, reported lower fourth quarter fee income, but a smaller net loss due in part to $483,000 of stock and option compensation charges in the year-earlier period.
The company, which licenses its technology to manufacturers, reported fee income of $277,760 in the quarter ended Dec. 31 versus $378,744 in the 2015 period. But its net loss narrowed to $1.4 million, or 6 cents per diluted share, from $1.8 million, or 8 cents per diluted share, in the prior year’s quarter.
Research Frontiers develops technology in which particles suspended in a solution align to admit light through glass as electricity is applied. Smart-glass is used in some business jets and Mercedes-Benz car models. Research Frontiers said another unnamed automaker will begin offering the technology, but has yet to make an announcement.
As of Dec. 31, the 11-person company, incorporated in 1965, had an accumulated deficit, or cumulative net loss, of $106.6 million, according to a government filing Thursday.
Research Frontiers shares fell 4 cents on Friday to close at $1.46 on the Nasdaq Capital Market. In the past 12 months, they are down about 65 percent.