Business & Finance
Business and Finance
Business and Finance
Mon, January 12, 2009
Sun, January 11, 2009
Fri, January 9, 2009 Nuvolt Corporation Inc.: Nuvolt Corporation Announces its Quarterly Financial Results
LEVIS, QUEBEC--(Marketwire - Jan. 9, 2009) - Nuvolt Corporation Inc. (TSX VENTURE:NCO) announces today the filing of its quarterly financial statements, dated November 30, 2008. The company posts positive results for this first quarter of the year 2008-2009, with a significant increase of its sales.
"The results of this first quarter of 2008-2009 are quite satisfactory" says Mr Jacques Dion, Chief Executive Officer. "The sales increase of this quarter can be attributed to a penetration of the major dairy farm market in the US, mostly in California. Everything shows that Nuvolt Corporation's expertise is now recognized among elite farms, all over North America."
"At the same time, SMARTSCAN has successfully completed all the validation tests in a real environment. This is a very significant step, as the quarter made it possible for the company to reach all its technological development objectives. Marketing of SMARTSCAN can thus be considered for next Spring," adds Mr Dion.
Quarterly highlights :
- Quarterly net earnings have reached 703 000$, compared to 348 000$ for the same period of the previous year, a 102% increase.
- SMARTSCAN, in a pre-commercial prototype configuration, underwent the tests of validation in a real environment. It detects, in real time and at all the frequencies, any anomaly on the electrical network, analyzes it and informs the user of the suitable directives.
- A Regional Sale Manager for Western United States started his work at the beginning of the quarter. His interventions with our California customers enable us to quickly reply to any request, thus ensuring the success of our equipment installed on these dairy farms.
About Corporation Nuvolt Inc.
Corporation Nuvolt Inc specializes in the analysis of farm electrical network failures as well as in the manufacturing of equipment for detection and correction. Its products are designed to detect, analyze and neutralize leakage current which might be found in the animal environment and to inform the user of network failures, at all frequencies. Its main products are the Potential Equalizer, the Relax ground fault detector and SVF-VSD filters. They are currently used in dairy and pig farms.
Corporation Nuvolt Inc. holds patents on the products and technology which enable it to serve its current markets. It has applied for patents for other products intended for the agricultural market, as well as for the market of electrical networks monitoring in the residential, commercial, institutional and industrial sectors.
TSX-Venture Stock Exchange does not assume any responsibility as to the relevance or the accuracy of this press release.
