JER Envirotech reports revenue growth in Q4 2008
Canadian PlasticsCanadian Plastics
Thermoplastic biocomposite compounds and sheeting supplier JER Envirotech International Corp., of Vancouver, has re...
Thermoplastic biocomposite compounds and sheeting supplier JER Envirotech International Corp., of Vancouver, has reported a preliminary profit increase of 94 per cent in fourth quarter 2008, compared with the same quarter in 2007.
As of August 31, the company’s revenue for Q4 2008 reached $1,126,515. Revenue for the same period last year was $581,964.
“We are very pleased with our performance during Q4 2008, as it was the first quarter where our revenues surpassed $1M,” states Ed Trueman, JER’s president and CEO. “With polymer prices now nearly double from just one year ago, an enormous strain has been placed on all industries that use this material in the production of their products. As a biocomposite manufacturer offering a cost-effective, direct replacement for pure polymers, we are in an enviable position.”
For fiscal 2008, JER’s revenues totaled $2,601,209 which was up 193% over fiscal 2007 at $886,888, “We remain focused on moving the Company towards breakeven as early as possible”, Trueman continued.
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