Nuvolt Corporation Inc.

Nuvolt Corporation Inc.

January 18, 2010 17:28 ET

Nuvolt Corporation Announces its Quarterly Financial Results

LEVIS, QUEBEC--(Marketwire - Jan. 18, 2010) - Nuvolt Corporation ("Nuvolt") (TSX VENTURE:NCO) announces the filling of its quarterly financial statements, for the quarter ended November 30, 2009.

"The Company anticipated a sharp decline in sales in the first quarter of the financial year. The US agricultural market, in particular the dairy and pork sectors, has been in a state of crises for close to a year. The equity of these farms has fallen sharply following the collapse of milk and pork prices." says Mr. Jacques Dion, President and Chief Executive Officer. "Despite the recognition of NUVOLT among elite farms and the proximity of sales resources to the clientele, the economic context has been such that first quarter sales have been limited to those clients whose need to reduce production costs was big enough to justify an investment."

"The marketing of SMARTSCAN will help improve the sales situation since this product will be offered at an affordable price and will pay for itself in a very short time." adds Mr. Dion.

Quarterly highlights:

- Net earnings have reached $366,000, compared to $667,000 for the same period of the pprevious year, a 45% decrease

- A new avenue for Agrivolt Filters involving their integration in lighting solutions led to the delivery of a first order of $125,000.

- The pace of development activities associated with SMARTSCAN has picked up since the start of the quarter, involving an investment of $185,000.

- A Marketing/Sales director was recruited for the agricultural sector in Canada. His mandate is to develop a distribution network in Canada.

- Cash flow of $445,000 as at November 30, 2009. The private placement has met the Company's short-term financial needs and has made it possible to complete SMARTSCAN and to prepare its commercial launch. The Company is in the process of examining other sources of financing for the marketing of SMARTSCAN.

The quarterly financial statements and the management report can be view on the System for Electronic Documents Analysis and Retrieval (SEDAR), available at

About Nuvolt

Nuvolt has developed a specialized expertise in the management of electrical failures, power quality, the detection and neutralization of leakage current, as well as electrical network monitoring systems.

Nuvolt has devoted a great deal of energy to and has made major investments in the development of the SMARTSCAN project. The SMARTSCAN system is a user-friendly product that can be distributed by independent distributors active in specialized sectors including the farming, commercial and industrial sectors.

Certain statements contained in this press release constitute forward-looking information. Such statements are based on the current expectations of management. You are cautioned that such statements can be subject to a multitude of risks and uncertainties that could cause actual results, future circumstances or events to differ materially from those projected in the forward-looking information. The reader should not place undue reliance on the forward-looking information included in this press release given that (i) actual results could differ materially from a conclusion, forecast or projection in the forward-looking information, and (ii) certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information could prove to be inaccurate. These statements speak only as of the date they are made, and Nuvolt assumes no obligation to revise such statements as a result of any event, circumstance or otherwise, except in accordance with law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Nuvolt Corporation Inc.
    Jacques Dion
    418-833-4055 (FAX)