Envirotech International Corp. is pleased to announce that its preliminary unaudited revenues for Q2 2008 reached $424,126, up 703% over the same quarter in fiscal 2007. The increase in sales performance is primarily attributed to the growing use of the Company's raw biocomposite pellets.
Vancouver, B.C., March 19, 2008 - JER Envirotech International Corp. (TSX
"We are very pleased with our sales performance during the second quarter of fiscal 2008," states Ed Trueman, President, CEO and Director. "Our performance during both Q1 and Q2 clearly illustrates JER's momentum in commercializing its products. We remain confident that we will achieve profitability before the end of calendar 2008, as our sales pipeline has never been more robust and we have a number of client initiatives on the cusp of mainstream production."
Quarter over quarter revenue performance for fiscal 2008, 2007 and 2006 was as follows:
Q1 Q2 Q3 Q4 Total
2006 $78,102 $151,158 $162,435 $36,227 $427,922
2007 $85,272 $52,825 $166,827 $629,476 $934,400
2008 $396,856 $424,126 - - $820,982
JER anticipates the release of its unaudited financial statements for Q2 2008 on or about March 29, 2008. 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 the remainder of fiscal 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 a range of industries. The Company currently has a line 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".
For more information, please visit www.jerenvirotech.com or contact: