Home / Knowledge / News / Textiles / Mr Ken excited about near-term opportunities for Crailar
Mr Ken excited about near-term opportunities for Crailar
07
Nov '09
Naturally Advanced Technologies Inc., reported results for its third quarter ended September 30, 2009.

"During the third quarter, we made significant progress in bringing our Crailar technology closer to market," stated Ken Barker, NAT's CEO. "In August, we signed a multi-phase joint development agreement with Hanesbrands, Inc. and a spinning and trademark licensing agreement with Patrick Yarns. In July, we entered a manufacturing agreement with G.J. Littlewoods & Son. We also raised $916,000 in gross proceeds through a private placement to support our commercialization activities in the coming months. We remain committed to our goal of delivering initial revenue from Crailar in the fourth quarter of this year and finalizing the distribution and marketing of Crailar with our industry-leading partners. We are excited about the near-term opportunities for both our technology and our company."

For the third quarter ended September 30, 2009, the company posted revenue of approximately $112,000 from winding down the last inventory of its HTnaturals apparel business. This compares to $655,000 in the third quarter of 2008. For the third quarter ended September 30, 2009, net loss was $1.0 million, which includes approximately $89,000 of research and development for the Crailar technology platform and $361,000 of stock-based compensation, as compared to the 2008 third quarter net loss of $1.1 million, which included approximately $111,000 of research and development for the Crailar technology platform and $485,000 of stock-based compensation. Net loss was $0.03 per share for the 2009 third quarter, as compared to $0.04 per share in the third quarter of 2008.

As of September 30, 2009, NAT had $1.1 million in cash and cash equivalents.

The company's unaudited consolidated financial statements for its third quarter ended September 30, 2009 were prepared in accordance with U.S. generally accepted accounting principles and all currency amounts are presented in U.S. dollars.

Naturally Advanced Technologies Inc

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Rupa Sood and Sharan Apparao
Nayaab

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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