SCI Engineered Materials, Inc. Updates Status of Thin Film Solar Order
No Direct Impact on SCI's Financial Results
/EINPresswire.com/ -- SCI Engineered Materials, Inc. ("SCI") (OTCQX: SCIA), is a global supplier and manufacturer of advanced materials for physical vapor deposition thin film applications that works closely with end users and OEMs to develop innovative, customized solutions. Today the Company announced termination of a previously reported order for more than $450,000 of thin film solar products following many recent unsuccessful attempts to communicate with or contact the customer.
Dan Rooney, President and Chief Executive Officer, said, "It is expected there will be no direct impact on SCI's financial results from this decision due to the terms of the order. This does not diminish SCI's attractive long-term opportunities in the global thin film solar market despite the temporary setback regarding anticipated sales for this year. We continue to implement our growth strategy in multiple markets and are working with domestic and international customers to fulfill their increasing product needs."
About SCI Engineered Materials, Inc.
SCI Engineered Materials is a global supplier and manufacturer of advanced materials for PVD thin film applications that works closely with end users and OEMs to develop innovative, customized solutions. Additional information is available at the Company's website: www.sciengineeredmaterials.com and https://www.facebook.com/SCI-Engineered-Materials-Inc-186808211709200/
This press release contains certain 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, which are intended to be covered by the safe harbors created thereby. Those statements include, but are not limited to, all statements regarding intent, beliefs, expectations, projections, customer guidance, forecasts, and plans of the Company and its management, and specifically include statements concerning termination of a customer's order and anticipation of no direct financial impact on the Company. These forward-looking statements involve numerous risks and uncertainties, including, without limitation, other risks and uncertainties detailed from time to time in the Company's Securities and Exchange Commission filings, including the Company's Annual Report on Form 10-K for the year ended December 31, 2015. One or more of these factors have affected, and could in the future affect, the Company's projections. Therefore, there can be no assurances that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company, or any other persons, that the objectives and plans of the company will be achieved. All forward-looking statements made in this press release are based on information presently available to the management of the Company. The Company assumes no obligation to update any forward- looking statements.