Research Frontiers net loss narrows
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.
Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.
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