LEVIS, QC, Nov. 6 /CNW Telbec/ - Nuvolt Corporation (TSX-V : NCO)
announces today it has filed its Annual Financial Statements, as of August 31,
2007. Highlights of the last months have to do with the closing, on July 18,
2007, of a Qualifying Transaction with NORCO CAPITAL and with the merger of
the two companies, on August 31, 2007.
"Results of the four months of the fiscal year ended August 31, 2007 are
quite satisfactory" says Mr Jacques Dion, CEO. "Despite the fact that the
Management team's resources have been geared towards the Qualifying
Transaction and the following merger with NORCO CAPITAL, the financial results
have shown a clear improvement: efficient word of mouth advertising, combined
with improved technical performance, have compensated for the reduction of
more direct marketing efforts. Support from a few animal feed suppliers,
recent successes in some major pig farms and a focus of our market development
strategies within geographical areas with higher concentration of high end
farms have also contributed to our posting of such good results."
Highlights from the last quarter
- 15% increased business over the same quarter of the previous year.
- Increased EBITDA, for the second year in a row.
- Hiring of a Director of Research and Development. Creation of two new
key positions, (soon to be filled) one Marketing Director, one Customer
- A major OEM client has decided, at the end of the quarter, to include
Nuvolt filter technology with all his existing products and to
integrate Nuvolt filter technology to any new line of his products.
NUVOLT is specialized in monitoring electrical networks in livestock farm
facilities. Its products are used to detect, analyze and neutralize leakage
current present in the animal's environment and to notify user of network
failure, at any frequency.
Its main products are the "Potential Equalizer", the "Relax" ground fault
detector and SVF-VSD filters to eliminate harmonics. They are presently in use
on dairy and pig farms.
NUVOLT holds patents on products and technology serving its current
markets and patents are pending on products aimed at serving not only farms
but also electrical network monitoring of residential, commercial,
institutional and industrial markets.
TSX Stock Exchange does no accept responsibility for the relevance or
accuracy of this press release.
For further information:
For further information: Jacques Dion, CEO, (418) 833-0773, Fax: (418)