SANTA CLARA, Calif., April 28, 2017 /PRNewswire/ -- UniPixel, Inc. (NASDAQ: UNXL), a provider of Performance Engineered Films™ to the touch screen and flexible electronics markets, announced today that it has taken delivery of a new custom built, high-speed coating system for the application of its Diamond Guard™ glass replacement resin compound. The system will be used to provide enhanced protection coating for its XTouch™ sensors. The system is scheduled for installation in May 2017 and is expected to commence production in June 2017.
The addition of this new manufacturing capability expands the Company's Diamond Guard capacity as the majority of its design win programs include Diamond Guard coating. Management expects the new coating system will significantly improve yields on larger sensors compared to the current coating equipment and methodology. The new equipment will also provide the coating technology required for the Company's future Diamond Touch product, which could open-up the laptop market, approximately eighty percent of which is currently not touch enabled. As computer OEMs look to reduce cost and weight from laptop computers, Diamond Guard can become a highly sought after solution as a replacement for cover glass.
Jeff Hawthorne, president and chief executive officer of UniPixel, commented, "The addition of this advanced technology equipment, in addition to yield improvement, expands our Diamond Guard application capabilities at just the right time. We are making measurable progress in applying our Diamond Guard glass replacement product on our XTouch sensors, which we expect to benefit in the form of more efficient production, less waste, and improved margins. We are scheduled to install the new high speed coating machine in May, and for it to be commissioned in June. We expect this will substantially improve yields and increase output of finished product."
"On a macro level, we are extremely busy at our Colorado Springs manufacturing facility ramping many of the 2016 design wins that are moving into volume production," continued Mr. Hawthorne. "It is important to note that many of these 2016 design win devices have new technology such as active stylus, narrow mesh widths and Diamond Guard™ coating, that were not in previous generation of devices. We are working to seamlessly accommodate those new features into our manufacturing process and have made steady progress in refining the process and increasing yields. We believe these new technology features will be incorporated into future designs and we expect initial manufacturing yields to be higher on future design wins entering volume production."
Mr. Hawthorne concluded, "We are highly focused on configuring our products to meet the demanding needs of our customers' new generation of computing devices. We have leading-edge products that are in demand and we are dedicated to meeting the expectations of those customers to produce the best devices possible."
UniPixel, Inc. (NASDAQ: UNXL) develops and markets Performance Engineered Films for the touch screen 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 volume production deliveries, yields Diamond Guard, customer supply and new equipment. 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 current 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, 2016 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
SOURCE UniPixel, Inc.