PowerFilm, Inc. announced its strategic relationship and product launch with Bushnell Inc. to sell custom solar products to Bushnell customers. After two years of intensive development by both companies, five products which integrate custom PowerFilm solar panels are now available for sale from Bushnell. The Bushnell products being released that incorporate PowerFilm's ultra thin, ultra durable solar material, are rugged products that are made to withstand wear and tear in an outdoor environment. The five products being released by Bushnell that have integrated PowerFilm solar material are built to last, with the rugged exterior and durable solar material inside. These products are ideal for charging portable electronics equipment, such as cell phones, GPS, radio, etc., especially for use in remote areas. One of the solar products being released by Bushnell is also being incorporated into Bushnell's Bear Grylls line of products.

PowerFilm, Inc. has reached an agreement with Hobie Cat to supply custom solar panels to recharge the v2 battery for the Hobie Cat eVolve™ electric motor. The strategic partnership comes after nearly two years of collaboration and development of a customized product specific for Hobie Cat watercraft. The PowerFilm solar panel utilizes marine grade connections and weatherproof, ultra thin, ultra light material for quick charging of the v2 battery that is incorporated into the Hobie Cat eVolve v2 system. The panel can charge the battery or indefinitely run the motor at 2 knots with optimum sun conditions. The easy to use, weatherproof panel has been salt water tested and uses stainless steel rivets and grommets to ensure reliable power in challenging marine conditions.

PowerFilm, Inc. reported audited consolidated earnings results for the year ended Dec. 31, 2012. Revenue of $10,333,926 was realized for the year ended December 31, 2012, compared with $11,604,969 for the year ended December 31, 2011; an 11.0% decrease. The decrease in 2012 over 2011 was attributable to a $543,564 or 5.5% decrease in product sales and a $727,479 or 41.3% decrease in development contract revenue. Operating loss was $1,131,911 against $1,435,463 reported last year. Loss before income tax (benefit) was $1,153,802 against $1,490,774 reported last year. Net loss attributable to PowerFilm, Inc. and subsidiary was $698,036 or $0.02 per basic and diluted share compared with a net loss of $929,774 or $0.03 per basic and diluted share for the year 2011. Net cash used in operating activities was $539,239 against $2,514,424 and purchase of property and equipment was $439,867 against $1,205,461 reported last year.