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News Flash
Naturally Advanced Technologies FY05 net loss narrows, sales up 15%
30 Mar '06
2 min read
Environmentally-friendly fibers and fabrics provider Naturally Advanced Technologies Inc has announced financial results for the three-month and full-year period ending December 31st 2005.
The sales for the fourth quarter were $151,982, up 19 percent compared to $127,637 in the year ago quarter. Net loss for the quarter ended December 31st 2005 was $406,387, or $0.02 per share. This compared to a net loss of $417,940, or $0.03 per share, for the quarter ended December 31st 2004.
The sales for the full year ended December 31st 2005 were $958,238, up 15 percent compared to $831,545 for the year ended December 31st 2004. Net loss for the full year 2005 was $876,758, compared to $897,054 for the full year 2004.
Jerry Kroll, CEO of Naturally Advanced Technologies, said, "Overall sales increased in 2005; however, our aspirations for our company and the proliferation of sustainable fibers are much greater. Therefore, we have taken steps to increase growth through sales of our clothing line HT Naturals(TM) and development and commercialization of proprietary technology owned by our Crailar Fiber Technologies subsidiary."
Kroll continued, "HT Naturals will be a solid business; however, we believe our long-term growth driver is CRAILAR. This new biotech enzyme process we have developed in collaboration with leading Canadian research councils enables cost effective production of quality sustainable fabrics and composites.”
“CRAILAR technology will target many markets including the $6 billion US cotton industry. In 2005, Crailar Fiber Technologies raised $1.3 million to support the commercialization of CRAILAR. The next steps are the patent filing and licensing of the process, which we anticipate will start to happen in the upcoming weeks," he further said.
Naturally Advanced Technologies Inc, formerly Hemptown Clothing Inc, is a leading provider of sustainable, environmentally-friendly fibers and fabrics.
The sales for the fourth quarter were $151,982, up 19 percent compared to $127,637 in the year ago quarter. Net loss for the quarter ended December 31st 2005 was $406,387, or $0.02 per share. This compared to a net loss of $417,940, or $0.03 per share, for the quarter ended December 31st 2004.
The sales for the full year ended December 31st 2005 were $958,238, up 15 percent compared to $831,545 for the year ended December 31st 2004. Net loss for the full year 2005 was $876,758, compared to $897,054 for the full year 2004.
Jerry Kroll, CEO of Naturally Advanced Technologies, said, "Overall sales increased in 2005; however, our aspirations for our company and the proliferation of sustainable fibers are much greater. Therefore, we have taken steps to increase growth through sales of our clothing line HT Naturals(TM) and development and commercialization of proprietary technology owned by our Crailar Fiber Technologies subsidiary."
Kroll continued, "HT Naturals will be a solid business; however, we believe our long-term growth driver is CRAILAR. This new biotech enzyme process we have developed in collaboration with leading Canadian research councils enables cost effective production of quality sustainable fabrics and composites.”
“CRAILAR technology will target many markets including the $6 billion US cotton industry. In 2005, Crailar Fiber Technologies raised $1.3 million to support the commercialization of CRAILAR. The next steps are the patent filing and licensing of the process, which we anticipate will start to happen in the upcoming weeks," he further said.
Naturally Advanced Technologies Inc, formerly Hemptown Clothing Inc, is a leading provider of sustainable, environmentally-friendly fibers and fabrics.
Naturally Advanced Technologies Inc
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