Home / Knowledge / News / Textiles / Addition of new retail customers saves day for NAT Inc
Addition of new retail customers saves day for NAT Inc
17
Nov '08
Naturally Advanced Technologies Inc, reported sales results for its third quarter for the quarter and nine months ended September 30, 2008.

CEO Ken Barker said, “Our third quarter sales increased 13% compared to second quarter, but declined 10% compared to a year ago, somewhat reflecting the overall economic slowdown. While we believe this may temper short-term sales, we are confident our retail and corporate customers have a long-term interest in our natural fiber garments.

This year, we added more retail customers to the distribution network and increased our corporate business, which grew nine-month revenue 21%, compared to the first nine months of 2007. We also increased gross margins to approximately 41% this quarter and 38% year-to-date, indicating continued sound supply chain and operational management.”

For the third quarter ended September 30, 2008, HTnaturals posted sales of $655,000, bringing the year-to-date sales to $2.2 million, compared to $722,000 and $1.8 million over the same periods in 2007, respectively. Year-to-date gross margin has increased to $831,000, as compared to $630,000 for the same period in 2007. Third quarter net loss including $143,000 of listing fees and associated costs and $485,000 of stock-based compensation was $1.1 million, compared to the third quarter 2007 net loss of $457,000, which included stock-based compensation of $182,000, but did not include listing fees.

Year-to-day net loss, including $394,000 of research and development for development of the CRAILAR technology platform, $143,000 of listing fees, and $656,000 of stock-based compensation, was $2.4 million. This compares to a net loss $1.1 million, which included $187,000 of research and development, stock-based compensation of $303,000, but did not include listing fees, for the same period in 2007.

“We are committed to providing environmentally sustainable solutions for everyday life,” said stated Ken Barker, CEO. “We began with HTnaturals, which provides 100% organic apparel made with blends of hemp, bamboo, organic cotton and soy. Now we are pursuing our goal to commercialize our CRAILAR technology, which uses bast fibers including industrial hemp, for use in casual apparel, performance yarns, industrial filters and absorbent pulp and paper products.

As part of the process, we garnered a listing on the Toronto Stock Exchange this quarter and are investing in creating operating platforms that allow us to take our Crailar technology to market. While our operating expenses increased compared to last year, we believe they are helping to build the foundation of our company and support our long-term growth,” concluded Barker.

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.


Must ReadView All

Alliance to form joint entity for safety in factories

Textiles | On 24th Apr 2018

Alliance to form joint entity for safety in factories

On the 5th anniversary of the Rana Plaza Collapse, The Alliance for...

China’s Alibaba partners with Thailand for digital trade

Textiles | On 24th Apr 2018

China’s Alibaba partners with Thailand for digital trade

China’s Alibaba Group recently signed an agreement with the Thai...

Courtesy: Skineez Skincarewear

Apparel/Garments | On 24th Apr 2018

Skineez, Walmart partner for smart wearables

Skineez Skincarewear, a leading cosmotextile skincarewear company,...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search