Naturally Advanced Technologies Inc. (OTCBB: NADVF) today 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.
Q1 2008 Revenues - $953,000
Q1 2007 Revenues - $616,000
YoY Revenue Growth - 55%
Q1 2008 Gross Margin - $351,000
Q1 2007 Gross Margin - $235,000
YOY Margin Growth - 49%
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." -- www.cnxmarketlink.com
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