Naturally Advanced Technologies reports second quarter sales for HTnaturals sustainable apparel division
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Maxamillion Blick
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By Maxamillion Blick
Published on 08/18/2008
Naturally Advanced Technologies Inc. ("NAT" or the "Company") (OTCBB: NADVF), announced second quarter sales results for its apparel division, HTnaturals, a provider of environmentally sustainable hemp, bamboo, organic cotton and soy blended apparel.
Naturally Advanced Technologies reports second quarter sales for HTnaturals sustainable apparel divi
Naturally Advanced Technologies Inc. ("NAT" or the "Company") (OTCBB: NADVF), announced second quarter sales results for its apparel division, HTnaturals, a provider of environmentally sustainable hemp, bamboo, organic cotton and soy blended apparel.
For the second quarter ended June 30, 2008, HTnaturals posted sales of US$579,000 an increase of 22% over the same period last year, with year to date sales of US$1,533,000, an increase of 40% over the same period 2007. Year to date gross margin is running at approximately 36%, or US$562,000, as compared to US$359,000, or 33%, for the same period in 2007.
"Sales results for Q2 were significant as we continue to show robust revenue growth year over year", said CEO Ken Barker. "While Q2 is traditionally a slower quarter in the apparel industry, our focus on operational efficiencies has increased our gross margins from this time
last year. We anticipate the remainder of 2008 to continue to deliver sales and margin growth as forecasted."
ABOUT Naturally Advanced Technologies, Inc.
Naturally Advanced Technologies Inc. is committed to unlocking the potential of renewable and environmentally sustainable biomass resources from hemp and other bast fibers. NAT, through its wholly owned subsidiary Crailar Fiber Technologies Inc., is developing proprietary technologies for production of bast fibers, cellulose pulp, and their resulting by-products,
in collaboration with Canada's National Research Council and the Alberta Research Council. CRAILAR(R) technology offers cost-effective and environmentally sustainable processing and production of natural, bast fibers such as hemp and flax, resulting in increased performance characteristics for use in textile, industrial, energy, medical and composite material applications. The Company is also a provider of sustainable, environmentally friendly fibers and fabrics through its apparel division HTnaturals. 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.
Thank you for reading this textile article on the Fashion Newspaper.
For the second quarter ended June 30, 2008, HTnaturals posted sales of US$579,000 an increase of 22% over the same period last year, with year to date sales of US$1,533,000, an increase of 40% over the same period 2007. Year to date gross margin is running at approximately 36%, or US$562,000, as compared to US$359,000, or 33%, for the same period in 2007.
"Sales results for Q2 were significant as we continue to show robust revenue growth year over year", said CEO Ken Barker. "While Q2 is traditionally a slower quarter in the apparel industry, our focus on operational efficiencies has increased our gross margins from this time
last year. We anticipate the remainder of 2008 to continue to deliver sales and margin growth as forecasted."
ABOUT Naturally Advanced Technologies, Inc.
Naturally Advanced Technologies Inc. is committed to unlocking the potential of renewable and environmentally sustainable biomass resources from hemp and other bast fibers. NAT, through its wholly owned subsidiary Crailar Fiber Technologies Inc., is developing proprietary technologies for production of bast fibers, cellulose pulp, and their resulting by-products,
in collaboration with Canada's National Research Council and the Alberta Research Council. CRAILAR(R) technology offers cost-effective and environmentally sustainable processing and production of natural, bast fibers such as hemp and flax, resulting in increased performance characteristics for use in textile, industrial, energy, medical and composite material applications. The Company is also a provider of sustainable, environmentally friendly fibers and fabrics through its apparel division HTnaturals. 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.
Thank you for reading this textile article on the Fashion Newspaper.