JER Envirotech Announces Record Financial Results for Q2 2008

VANCOUVER, BC -- (MARKET WIRE) -- 04/11/08 -- JER Envirotech International Corp. (TSX-V: JER) (FRANKFURT: KFTB) is pleased to announce its unaudited financial results for fiscal Q2 2008.

Highlights for the quarter were as follows:

* Record Q2 2008 revenues of $423,859, representing a 702% increase over Q2 2007 at $52,825 and a 7% increase over Q1 2008 at $396,856.

* Revenues for the six months ended February 29, 2008 were $820,715, representing a 494% increase over the same period in fiscal 2007 at $138,097 and approximately 93% of the revenues for all of fiscal 2007 at $886,888.

* JER partnered with innovative environmental toy company Sprig Toys, Inc., headquartered in Fort Collins, Colorado. Sprig has established a distribution network that includes two of the largest mass market retailers in North America as well as specialty toy stores throughout North America and Europe. Initial product deliveries are scheduled for July 2008. Total production is anticipated to reach 1.5M lbs by the end of calendar 2008.

* Production ramp up continues with Guardian Building Productions. At the end of Q2 2008, JER was delivering approximately six truckloads per month (250,000 lbs) and consumption is expected to reach two truckloads per week by the second week of May 2008.

* Specialty game piece manufacturer Rolco Inc. of Kasota, Minnesota launched a new line of board game pieces composed of JERtech(TM) thermoplastic biocomposite compounds.

* JER became the incumbent supplier of thermoplastic biocomposites for Concor Plastics, a large U.S. moulder of bird feeders sold through mass market retailers throughout North America. Production is anticipated to be up to one and a half truckloads per month (60,000 lbs) ongoing.

* JER was named a finalist for the "Industry Award for Export Performance" at the 2008 GLOBE Awards, held in Vancouver, British Columbia on March 13, 2008.

Summary of Results

Revenues for Q2 2008 (ended February 29, 2008) reached $423,859, up 702% over Q2 2007 at $52,825. These revenues were also up 7% over Q1 2008 at $396,856. For the first half of fiscal 2008, JER's revenues totaled $820,715, which is up 494% over the same period in fiscal 2007 at $138,097 and approximately 93% of the revenues for all of fiscal 2007 at $886,888. The increase in sales performance is primarily attributed to the growing use of the Company's raw biocomposite pellets in the North American extrusion and injection molding industries.

Quarter over quarter revenue performance for fiscal 2008, 2007 and 2006 was as follows:

-***- Q1 Q2 Q3 Q4 Total ------------------------------------------------------------------2006 $ 78,102 $ 151,158 $ 162,435 $ 36,227 $ 427,922 2007 $ 85,272 $ 52,825 $ 166,827 $ 581,964 $ 886,888 2008 $ 396,856 $ 423,859 - - $ 820,715

-****-

To view JER Envirotech International Corp.'s unaudited second quarter financial results, please click on the link provided: http://www.usetdas.com/maps/jer/jerenvirotechQ2.pdf

Tables hosted by Filing Services Canada Inc. website.

Management remains confident that JER will reach profitability during calendar 2008. To ensure it achieves its performance goals, the Company is driving all non-essential costs out of its operations and making any adjustments necessary to ensure it is in a strong financial position given the reality of current economic conditions.

Meanwhile, JER continues to perform. It is making excellent progress on acquiring new customers, reaching new markets and developing additional products. "During the month of February, the Company's compounding production lines ran at near capacity and looking ahead into March and April the sales pipeline continues to grow," states Ed Trueman, JER's CEO. "In addition, JER's sheeting production plant in Delta, British Columbia is now fully operational and the Company expects to ship its largest volume of sheet products ever during fiscal Q3."

"To reach the profitability stage as quickly as possible, we are investing in our technology, our productivity and the expansion of our sales force," continues Trueman. "We are also simplifying our operations and focusing on the significant opportunities available to us in North America."

Resignation of Peter Baran as COO

Effective March 31, 2008, Peter Baran resigned as the Company's Chief Operating Officer. During his tenure, Mr. Baran was actively engaged in longer range organizational development and systems implementation for the Company. Many of his initiatives are now in place and, in support of JER's efforts to reduce its cash burn rate while aggressively focusing on its sales, margin and profitability objectives, he has elected to step down. JER's CEO, Edward Trueman, has assumed control of the Company's operations. The Board of Directors thanks Mr. Baran for his valuable contribution during his tenure and wishes him continued success in future endeavors.

About JER Envirotech International Corporation

JER is a global manufacturer of thermoplastic biocomposite compounds and sheeting. The Company's patented technology utilizes waste or by-product materials, such as wood fibre or rice hulls, to produce environmentally friendly alternative products for applications in the construction, transport and automotive industries. The Company currently has a range of biocomposite formulations which it developed in collaboration with the National Research Council - Industrial Materials Institute of Canada.

JER currently has manufacturing operations in Canada, Malaysia and the Philippines. The Company is publicly traded on the TSX Venture Exchange (TSX) under the symbol "JER" and on the Frankfurt Stock Exchange under the symbol "KFTB."

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. This news release contains certain forward-looking statements that reflect the current views and/or expectations of JER Envirotech International Corp. with respect to its performance, business and future events. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, those relating to changes in the market, potential downturns in economic conditions, foreign exchange fluctuations, demand for thermoplastic biocomposites, competition and our ability to implement our business plans and strategies in a timely manner or at all. These risks, as well as others, could cause actual results and events to vary significantly. JER Envirotech International Corp. does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements.

(2008-04 #05)

Distributed by Filing Services Canada and retransmitted by Marketwire

For more information, please visit www.jerenvirotech.com or contact:

JER ENVIROTECH INTERNATIONAL CORPORATION

"Ji Yoon" Mr. Ji Yoon Chief Financial Officer International: +1 (604) 940-9262 jyoon@jerenvirotech.com

Investor Relations:

Mr. Mark Komonoski VP Corporate Communications Toll-Free: 1-877-255-8483 International: +1 (403) 470-8483 mark@jerenvirotech.com

2008-04-11 18:57:35 0334188 MARKETWIRE

Legal Disclaimer: We are not responsible for the content of the news. Please, contact each company regarding their message.

HOME || Press Release Archive || © Leigh Media Corporation || Terms of Use || Privacy Policy || Publish Your Press Release Here

Market Segmentation Starts Here || Free Advertising

Search Term: