Pretty healthy revenue growth in Q4, TSL ... not that it'll make any difference to shareprice in this environment, as there seems little doubt it's held by players who are taking big hits in mineral stocks right now ... but if they can keep the revenue trend going, we should do well on it in the end
Insiders - just checked, and there is no recent insider buying, but i was impressed again with how much of the common various individuals are holding ... some of the outfits out there, you see them holding options and warrants only, it's kind of a message, whether intended as such or not
'JER Envirotech Announces Record Q4 2008 and Quarter Over Quarter Revenue Growth
Tuesday September 9, 5:00 pm ET
VANCOUVER, BC--(MARKET WIRE)--Sep 9, 2008 -- JER Envirotech International Corp. (CDNX:JER.V - News) (Frankfurt:KFTB.F - News) ("JER") is pleased to announce that its preliminary unaudited revenues for Q4 2008 (ended August 31, 2008) reached $1,126,515 up 94% over the same quarter in fiscal 2007 at $581,964. These revenues were also up 72% over Q3 2008 at $653,979.
For fiscal 2008, JER's revenues totaled $2,601,209 which was up 193% over fiscal 2007 at $886,888.
"We are very pleased with our performance during Q4 2008, as it was the first quarter where our revenues surpassed $1M," states Ed Trueman, JER's President and CEO. "With polymer prices now nearly double from just one year ago, an enormous strain has been placed on all industries that use this material in the production of their products. As a biocomposite manufacturer offering a cost-effective, direct replacement for pure polymers, we are in an enviable position.
"We enable our customers to manufacture high quality products while protecting profit margins. In addition, the use of our compounds is a socially responsible decision that they can effectively market as a product differentiator. These factors, combined with the expanding reach of our sales and marketing team, are contributing to strong revenue growth, as evidenced by the 72% increase we experienced from Q3 to Q4 of the current fiscal year."
During Q4 2008, JER's compound business unit met management's performance expectations. The Company is also pleased to report that its extruded sheeting business unit had its first significant impact in current quarterly performance, accounting for approximately 10% of overall sales.
Quarter over quarter revenue performance for fiscal 2008, 2007 and 2006 was as follows:
To access the chart and table associated with this release, click on the links below or paste the link into your browser:
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From an operational standpoint, JER significantly reduced its cost of operations during Q4 2008, primarily through economies of scale in production, strategic purchasing of raw materials, a reduction in facilities overhead, and more efficient staffing. "We remain focused on moving the Company towards breakeven as early as possible," continues Trueman.
JER anticipates the release of its audited financial statements for fiscal 2008, along with management's discussion and analysis, on or about November 12, 2008.
About JER Envirotech International Corporation
JER is a global supplier of thermoplastic biocomposite compounds and sheeting. The Company's patented technology utilizes waste or by-product materials, such as wood fibre or rice hulls, to produce environmentally friendly alternative products for applications in the construction, transport, automotive and toy industries. The Company currently has a range of biocomposite formulations which it developed in collaboration with the National Research Council - Industrial Materials Institute of Canada.
JER is publicly traded on the TSX Venture Exchange (TSX) under the symbol "JER" and on the Frankfurt Stock Exchange under the symbol "KFTB." For more information, visit www.jerenvirotech.com or contact:
JER ENVIROTECH INTERNATIONAL CORPORATION
"Ji Yoon"
Mr. Ji Yoon
Chief Financial Officer
International: +1 (604) 940-9262
jyoon@jerenvirotech.com '
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