QUEBEC CITY, Dec. 7 /CNW Telbec/ - Novik Inc. (NVK) is pleased to announce the receipt of a large order from a North American customer in the amount of $2.3M. Mr. Gaudreau, Novik's president, confirms that "this great order is directly related to a major contract signed in fall 2008 guaranteeing sales of $9.5M over a period of four years. This contract will allow us to increase the visibility of our products on the North American market through a distribution network that already exists. Our continued investments in the innovation of our products, despite a more difficult economy, largely explain the awarding of this contract."
Most of this order is expected to be shipped during the first quarter of fiscal year 2010, with the possibility of receiving subsequent orders from this North American customer starting in the second quarter of next fiscal year. Mr. Gaudreau adds, "We can already foresee a more positive first quarter in financial year 2010 than in 2009. Considering that Novik posted sales of $2.6M for first quarter 2009, we are positive that fiscal year 2010 will have an even better start for us."
As mentioned in the last press release on November 20, Mr. Gaudreau would like to point out that "the decrease in our sales since the start of 2009 does not reflect the achievements of the year at all. Since the start of the year, we have signed on several major customers offering high potential in the near future. This large order received from this US customer is an example of this. We are therefore confident for the coming year. Since the beginning of September 2009, we have seen greater sales in North America compared to last year. The introduction of innovative products in August 2009 has sparked positive reactions in the market and explains these positive results in part. Greater proximity with our customers in eastern Canada and the eastern US through the support of our sales force has also helped this growth. We have surpassed sales in the last quarter of fiscal year 2008, i.e. $2.7M, as of today, allowing us to post increased sales in a 2009 quarter compared to a quarter of last year for the first time in 2009. These results are encouraging considering that the industry remains fragile. We are continuing our market development efforts in order to maximize the diversification of our sales, and current discussions with new distributors bode well for the future of Novik."
Novik Inc. (NVK) is a leader in the manufacturing and marketing of innovative polymer exterior siding and roofs, replacing traditional materials such as stone, brick, and wood shingles at a lower cost. The target market is the global residential and commercial construction industry.
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SOURCE Novik Inc.
For further information: For further information: Michel Gaudreau, President, (418) 878-6161, email@example.com; Pascal Bouthot, CA, Vice President, Finance, (418) 878-6161, firstname.lastname@example.org; Source: Novik Inc.