The decrease was primarily due to a decline in revenue relating to the electronic display products partially offset by an increase in window film and automotive glass products.
Third quarter 2007 net income was $250 thousand, earnings per fully diluted share was zero, compared to a net loss of $2.721 million or ($0.11) per fully diluted share for the third quarter of 2006. The increase was primarily due to $3.23 million lower operating expenses and $500 thousand in other income from a Technology Transfer and Service Agreement.
Our cash and cash equivalents at the end of the third quarter were $4.775 million.
Mr. Dennis Capovilla, President, said, "We are pleased to report our third consecutive quarter of profitability, which is a direct result of our focus on streamlining our infrastructure and directing our attention to core energy markets."