JER Envirotech Announces Record Q3 2008 and Quarter Over Quarter Revenue Growth
VANCOUVER, BC, Jun 05, 2008 (MARKET WIRE via COMTEX News Network) --
JER Envirotech International Corp. (TSX-V: JER) (FRANKFURT: KFTB) ("JER") is pleased to announce that its preliminary unaudited revenues for Q3 2008 (ended May 31, 2008) reached $653,979, up 292% over the same quarter in fiscal 2007 at $166,827. These revenues were also up 54% over Q2 2008 at $423,859.
For the first three quarters of fiscal 2008, JER's revenues totaled $1,474,694, which is up 384% over the same period in fiscal 2007 at $304,924, and approximately 166% of the revenues for all of fiscal 2007 at $886,888.
"We are pleased to see that our growth trend is on track," states Ed Trueman, President, CEO and Director of JER. "Both our pellet production and sheet production facilities in Delta are in full operation and we've moved into mainstream production with a number of our customers. We are enjoying the new rhythm of repeat orders and recurring revenues, as it allows for more accurate forecasting of material supply requirements as well as more effective production scheduling and financial planning."
"We are seeing a shift in our operational challenges from initial commercialization to capacity management and expansion, which is a milestone every growing manufacturer hopes to achieve," states Trueman.
Quarter over quarter revenue performance for fiscal 2008, 2007 and 2006 was as follows:
To view the JER Envirotech International Corp. quarter over quarter revenue performance, please click on the link provided: usetdas.com. Image hosted by Filing Services Canada Inc. website.
Q1 Q2 Q3 Q4 Total
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2006 $78,102 $151,158 $162,435 $36,227 $427,922
2007 $85,272 $52,825 $166,827 $581,964 $886,888
2008 $396,856 $423,859 $653,979 - $1,474,694
JER anticipates the release of its unaudited financial statements for Q3 2008 on or about July 3, 2008.
About JER Envirotech International Corporation
JER is a global manufacturer 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 currently has manufacturing operations in Canada, Malaysia and the Philippines. The Company is publicly traded on the TSX Venture Exchange (TSX) under the symbol "JER" and on the Frankfurt Stock Exchange under the symbol "KFTB."
JER ENVIROTECH INTERNATIONAL CORPORATION "Ji Yoon" Mr. Ji Yoon Chief Financial Officer International: (604) 940-9262 jyoon@jerenvirotech.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. This news release contains certain forward-looking statements that reflect the current views and/or expectations of JER Envirotech International Corp. with respect to its performance, business and future events. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, those relating to changes in the market, potential downturns in economic conditions, foreign exchange fluctuations, demand for thermoplastic biocomposites, competition and our ability to implement our business plans and strategies in a timely manner or at all. These risks, as well as others, could cause actual results and events to vary significantly. JER Envirotech International Corp. does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements. |
