USA: Naturally Advanced reports record Q1 revenues

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BharatTextile.com » Apparel/Garments News » USA: Naturally Advanced reports record Q1 revenues

Naturally Advanced Technologies Inc. announced record quarterly revenue for the first quarter of 2008 from its apparel division, HTnaturals, a leading provider of
environmentally sustainable hemp, bamboo, organic cotton and soy blended
apparel.

First Quarter Results:

For the three months ended March 31, 2008, HTnaturals posted sales of
$953,000, an increase of 55% over the same period in 2007. Business at
HTnaturals continued to see solid growth during the quarter as B2B and special
make up orders increased strongly from the same period last year. The
company's retail line, Elements(TM), also saw strong gains during the quarter
as additional retail customers were added to the distribution network. Gross
margin increased by 49% to $351,000 for the three months ended March 31, 2008,
up from $235,000 for the same period in 2007.

These record quarterly results came on the heels of record annual results
for fiscal year 2007. "Q1 of 2008 was a milestone quarter for the Company.
Sales of our organic, sustainable apparel continued to show robust growth in
our markets, showing strong sales diversification across all distribution
channels, said Ken Barker, CEO, Naturally Advanced Technologies Inc. "Most
importantly, we continue to see operating efficiencies deliver increased gross
margin figures, a key metric in our business that points to sound supply chain
and fiscal management. We anticipate these gains to increase throughout the
rest of the year."

About Naturally Advanced Technologies, Inc.

Naturally Advanced Technologies Inc. is a Cleantech company focused on
providing environmentally-friendly textile, composite, biomass and pulping
solutions through the cost effective processing of industrial Hemp, and other
bast fiber crops. This proprietary fiber processing platform, called
CRAILAR(R), has been developed in conjunction with the National Research
Council of Canada and the Alberta Research Council, with NAT owning the
exclusive global licensing rights for this technology. The CRAILAR(R) process
and resulting products and by-products are expected to have applications in
textile, composite material, energy and pulp and paper markets.

The Company is also a provider of sustainable, environmentally friendly fibers and fabrics through its apparel division HTnaturals Apparel Corp. Founded in 1998 in
response to the growing demand for environmentally friendly, socially responsible clothing, NAT adheres to a "triple bottom line" philosophy, respecting the human rights of employees, the environmental impact of the Company's operations and fiscal responsibility to its shareholders. www.naturallyadvanced.com. NAT has 27,913,589 shares of common stock outstanding and a market capitalization of $47.5 million.

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Added: April 21, 2008 (26 days ago) Source: Agencies