/ CORRECTION - JER Envirotech Announces Record Q3 2008 and Quarter Over Quarter Revenue Growth
06 June 2008 - 3:44AM
Marketwired
VANCOUVER, BC (FRANKFURT: KFTB), we are advised by the company
that the Q3 revenue for the 2008 row in the financial table should
read "$653,979" rather than "$53,979" as originally issued.
Complete corrected text follows.
JER Envirotech Announces Record Q3 2008 and Quarter Over Quarter
Revenue Growth
VANCOUVER, BC -- June 05, 2008 -- 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:
http://www.usetdas.com/maps/jer/quarterrevenue.pdf. Image hosted by
Filing Services Canada Inc. website.
Q1 Q2 Q3 Q4 Total
------------------------------------------------------
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.
(2008-06 #14)
Distributed by Filing Services Canada and retransmitted by
Marketwire
For more information, please visit www.jerenvirotech.com or
contact: Mr. Ji Yoon Chief Financial Officer International: (604)
940-9262 Email Contact Investor Relations: Mr. Mark Komonoski VP
Corporate Communications Toll-Free: 1-877-255-8483 International:
(403) 470-8384 Email Contact Email: Email Contact Website:
www.jerenvirotech.com
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