Naturally Advanced Technologies Reports First Quarter 2009 Results

Published in House and Home on Friday, May 15th 2009 at 13:22 GMT, Last Modified on 2009-11-02 12:16:27 by Market Wire
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PORTLAND, OR, May 15 /CNW/ - Naturally Advanced Technologies Inc. (NAT, OTCBB: NADVF, TSXV: NAT), reported results for its first quarter ended March 31, 2009. "The first quarter results reflect our strategy to wind down our historic apparel business, HTnaturals, as we move into the next phase of our business plan for CRAILAR(R)," stated Ken Barker, NAT's CEO. "We expect to complete the exit in the third quarter of 2009, as our CRAILAR activities continue to take precedence as the most attractive opportunity for improving shareholder value." "The successful results of our trials with potential partners have paved the way for continued progress on agreements to bring Organic Fibers and Advanced Materials technologies to market. Our resources are now focused on the commercialization of our CRAILAR technology, which will enable large scale production of industrial hemp and other bast fibers as a substitute for traditional cotton and wood pulp applications. Our goal is to begin generating revenue streams from CRAILAR in 2009," Barker concluded. For the first quarter ended March 31, 2009, HTnaturals posted sales of approximately $270,000, compared to $954,000 in the first quarter of 2008. For the first quarter ended March 31, 2009, net loss was $768,000, which includes $87,000 of research and development for the CRAILAR technology platform and $142,000 of stock-based compensation, as compared to the 2008 first quarter net loss of $550,000, which included $153,000 of research and development for the CRAILAR technology platform and $89,000 of stock-based compensation. Net loss was $0.02 per share for both periods. About Naturally Advanced Technologies, Inc. Naturally Advanced Technologies Inc. is committed to unlocking the potential of renewable and environmentally sustainable biomass resources from hemp and other bast fibers. The Company, through its wholly owned subsidiary, Crailar Fiber Technologies Inc., is developing proprietary technologies for production of bast fibers, cellulose pulp, and their resulting by-products, in collaboration with Canada's National Research Council and the Alberta Research Council. CRAILAR(R) technology offers cost-effective and environmentally sustainable processing and production of natural, bast fibers such as hemp and flax, resulting in increased performance characteristics for use in textile, industrial, energy, medical and composite material applications. The Company is also a provider of sustainable, environmentally friendly fibers and fabrics through its apparel division HTnaturals. Founded in 1998 in response to the growing demand for environmentally friendly, socially responsible clothing, the Company adheres to a "triple bottom line" philosophy, respecting the human rights of employees, the environmental impact of the Company's operations and fiscal responsibility to its shareholders. See [ www.naturallyadvanced.com ] Safe Harbor Statement This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Exchange Act of 1934 and the provisions of the Private Securities Litigation Reform Act of 1995 and is subject to safe harbor created by these sections. Actual results may differ materially due to a number of risks, including, but not limited to, technological and operational challenges, needs for additional capital, changes in consumer preferences, risks associated with: market acceptance and technological changes; dependence on manufacturing and material supplies providers; international operations; and competition.

For further information: Investor Contact: Kirsten Chapman, Cathy Mattison, Lippert/Heilshorn & Associates, (415) 433-3777, [ ir@naturallyadvanced.com ]

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