JER Envirotech International Corp.: Jer Envirotech announces record Q4 2007 and annual revenue growth
Vancouver, British Columbia CANADA, Sep 18, 2007 (M2 PRESSWIRE via COMTEX News Network) --
JER Envirotech International Corp. (JER - TSX Venture, KFTB - FWB), ("JER" or the "Company") is pleased to announce its preliminary unaudited revenues for the fourth quarter of fiscal 2007 ended August 31, 2007 reached $629,400, which is up 1638% over the same quarter in fiscal 2006 as well as up 277% over Q3 2007. For fiscal 2007, JER's revenues totalled $934,400, which is up 118% over fiscal 2006 which saw revenues of $427,900. The increase in sales performance is a reflection of the Company's growing presence and momentum in the thermoplastic biocomposites industry, particularly with its raw biocomposite pellets.
"We are extremely pleased with our sales performance in Q4," states Ed Trueman, President, CEO and Director. "JER's revenues are ahead of management's forecast and we anticipate our strong growth to continue as increased sales efforts are resulting in an ongoing stream of pre-production trials. In addition, we are seeing order sizes and frequency increase with our existing customer base due to successful product performance and our ability to provide reliable delivery and consistent manufacturing quality. It is an exciting time for JER as we witness a number of our key customers introducing our material into their mainstream production."
Quarter over quarter revenue performance for fiscal 2007 was as follows:
To view the JER Envirotech International Corp. Fiscal 2007 graph, please click on the link provided: www.usetdas.com/maps/jer/jerFISCAL2007.pdf Graphic hosted by Filing Services Canada Inc. website.
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Q1 2007 Q2 2007 Q3 2007 Q4 2007
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$85,300 $52,800 $167,000 $629,400
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JER anticipates the release of its audited financial statements for fiscal 2007, along with management's discussion and analysis, on or about November 15, 2007. The Company will also be holding a teleconference after market close on the day of the release to discuss the results and provide an outlook for fiscal 2008.
Appointment of Corporate Secretary
On Wednesday, September 12, 2007, the Board of Directors appointed Mr. Ji Yoon, JER's Chief Financial Officer, as Corporate Secretary, effective immediately. Mr. Yoon replaces Bijay Singh and the Board extends its gratitude to Mr. Singh for his service in this role since 2004.
About JER Envirotech International Corporation
JER is a global manufacturer of biocomposite compounds and panel boards. The Company's patented technology utilizes waste or by-product materials, such as saw dust and rice husk, to produce environmentally-friendly alternative products for applications in the automotive manufacturing, construction and transport 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, and is currently planning to establish new plants in other strategic markets, particularly the United States, Asia and Europe. The Company is publicly-traded on the TSX Venture Exchange under the symbol "JER" and on the Frankfurt Stock Exchange under the symbol "KFTB".
For more information, visit www.jerenvirotech.com.
JER ENVIROTECH INTERNATIONAL CORPORATION
"Ji Yoon"
"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.
Source: JER Envirotech International Corp. (TSX-V: JER) jerenvirotech.com |
