SANTA CLARA, Calif., Dec. 1, 2016
SANTA CLARA, Calif., Dec. 1, 2016 /PRNewswire/ -- UniPixel, Inc. (NASDAQ: UNXL), a provider of Performance Engineered Films™ to the touchscreen and flexible electronics markets, announced today that as it moves toward volume production on the 24 design wins awarded in 2016, it expects to be shipping manufacturing validation units in the fourth quarter of 2016 to five, or 21%, of the programs. In the first quarter of 2017, the Company expects to deliver to seven, or 29%, of the programs awarded in 2016. Each customer has a number of production steps that their vendors must support in order to launch the customer's new device.
Jeff Hawthorne, president and chief executive officer of UniPixel, said, "Our evolution from a technology developer to a manufacturer of critical components for the computer industry is proceeding at a rapid pace. We established our brand and shipped to our initial customers in 2015. During the current year we validated the market demand for our metal mesh XTouch sensors with 24 design wins and maintained a strong focus on increasing factory efficiency. We now head into 2017, which is the year we begin to fulfill customer demand in volume.
Mr. Hawthorne continued, "We are starting the product ramp in our current quarter which commences with smaller volumes building during Q4 2016, into 2017 and continuing into 2018. We are gratified that these major computer and tablet manufacturers are entrusting their latest devices to us."
The Company also announced today that it recently shipped its two millionth touch screen sensor produced at its Colorado Springs manufacturing facility. This is an important milestone as the Company ramps to volume production on a number of its 2016 design wins. UniPixel has made significant process improvements at the manufacturing facility, having achieved material cost reductions of 49% and overall touch sensor yields by 35% during 2016 to date. The Company expects these process improvements will significantly enhance operating margins.
Additionally, UniPixel recently announced its XTouch sensors achieved Microsoft Pen Protocol as part of a device submitted for certification by a leading systems integrator. XTouch sensors have also recently achieved an equivalent certification for Wacom Pen certification. Wacom is a leading third-party provider of stylus products to computer manufacturers and end-user consumers alike. This certification favorably positions UniPixel's XTouch sensors with device manufacturers, as they support the two major stylus protocols in the industry."
UniPixel, Inc. (NASDAQ: UNXL) 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. For further information, visit www.unipixel.com.
All statements in this news release that are not based on historical fact are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including the statement regarding UniPixel's estimated dates of production and future sales efforts. Such statements contain words such as "will," and "expect," or the negative thereof or comparable terminology. These statements are based on management's current expectations. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. These risks, uncertainties, and other factors include, but are not limited to, the ability to recognize revenues, the ability to extend product offerings into new areas or products, the ability to compete in our currents markets, the ability to commercialize licensed technology, unexpected occurrences that deter the "bring to market" plan for products, trends and fluctuations in the industry, changes in demand and purchasing volume of customers, our ability to attract and retain qualified personnel, our ability to raise additional capital, the ability to move product sales to production levels, the success of product sales in new markets or of recently produced product offerings, the ability to enforce our intellectual property rights and those set forth under Item 1A "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2015 and other current and periodic reports filed or furnished from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to UniPixel as of the date hereof, and UniPixel assumes no obligation to update any forward-looking statement.
Trademarks in this release are the property of their respective owners
Joe Diaz, Robert Blum, Joe Dorame
Lytham Partners, LLC
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SOURCE UniPixel, Inc.