Naturally Advanced Technologies Inc. (OBB: NADVF) announced third quarter sales results for its apparel division HTnaturals, a provider of environmentally sustainable hemp, bamboo, organic cotton and soy blended apparel.
For the third quarter ended September 30, 2007, HTnaturals posted sales of US$715,000, an increase of 76% over the same period last year, with year to date sales of US$1.8 million, an increase of 127% over the same period 2006.
Year to date margin is approximately 35% of sales or US$625,000 as compared to 32% or US$255,000 for the same period 2006.
During the quarter, HTnaturals continued a retail program, now in its third season; expanded COSTCO Canada distribution program with additional stores through to the end of the first quarter of 2008; and increased sales and distribution with the appointment of a professional sales group with representatives throughout the U.S.
“We expect these results to continue into Q4, making 2007 our most successful year yet,” said Ken Barker, the Company’s Chief Executive Officer. The Company’s HTnaturals apparel division realized sales revenues of US$1.2 million in 2006 and is on target to meet projected sales of over US$2.2 million in 2007.
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