“We are exceptionally pleased with the progress of our CRAILAR technology platform and ongoing collaboration with world class scientists at Canada's National Research Council and Alberta Research Council. Our F-Series intellectual property was developed by Dr. Wing Sung, a Principal Research Officer at the NRC and international expert in industrial enzymes."
"Dr. Sung is the scientist behind four generations of high performance engineered enzymes for the production of bleached pulp in partnership with Iogen Corporation of Ottawa, a leading manufacturer of ndustrial enzymes used internationally in the pulp and paper industry. We are excited to see Canada's biomass expertise applied to the development and early validation of CRAILAR technology for the production and processing of bast fibers including hemp and flax.” said Ken Barker, the Company's Portland, Oregon-based Chief Executive Officer.
Sales results for the Company's apparel division HTnaturals, a provider of environmentally sustainable hemp, bamboo, organic cotton and soy blended apparel since 1998, continued to show strong growth in both the seasonal retail line and the high volume corporate wear line.
For the third quarter ended September 30, 2007, HTnaturals posted sales of US$721,000 an increase of 78% over the same period last year, with year to date sales of US$1.8 million, an increase of 129% over the same period 2006. Year to date margin is approximately 35% of sales or US$629,000 as compared to 32% or US$255,000 for the same period 2006.