QUEBEC CITY, June 18 /CNW Telbec/ - Novik anticipates record-breaking
quarter for its second quarter. Revenue for Q2 2008 is anticipated to be in
the $7 million range which would represent growth of close to 55% compared to
same period last year. In Q3 2007, Novik reached $5m of sales, which
anticipated 2008 second quarter sales would override previous record by 40%.
"This substantiates our forecasted 2008 revenue growth at 40% anticipated
to reach over $21m of sales this year versus $15.2 million in 2007" stated
Mr. Gaudreau, President and CEO. "We expect 2008 to be our best year ever in
both profitability and sales growth on the strength of our international
"The international growth to date is just the beginning of a trend for
Novik" emphasized Mr. Gaudreau. "We are still in discussions with many
European distributors offering great potential in the near future and beyond.
As well efforts are being increased on many other international fronts. Our
leading edge products allow Novik to compete internationally. Products are
high quality, low maintenance and easy to install meeting consumer demand
Over the last two years, Novik has strategically positioned itself for
growth internationally substantially increasing sales and marketing efforts.
These efforts are now coming into play. In Q2 2008, Novik received a
$7 million order from a new large European distributor to be shipped over a
12 month period and Mexico came onboard with large orders expected to be over
$1 million to be shipped in the second and third quarter of fiscal year 2008.
The increase in international orders has been substantial and expected to
Novik has not been materially affected by the downturn in the North
American construction sector or the increase in the Canadian dollar. Increases
in sales and marketing efforts continue in the North American market in
anticipation of a rebound in the economy. This will position Novik for even
further future growth.
Novik (NVK) is a leader in the design, manufacturer and distribution of
innovative polymer exterior siding and roofing coverings that replace
traditional materials such as stone, brick or wood shingles. These products
target the world-wide residential and commercial construction industry.
Forward-looking statements contained in this press release involve known
and unknown risks, uncertainties or other factors that may cause actual
results, performance or achievements of the company to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements.
For further information:
For further information: Michel Gaudreau, President, (418) 878-6161,
email@example.com; Pascal Bouthot, Vice-President, Finances, (418) 878-6161,
firstname.lastname@example.org; Source: Novik inc