Vancouver, British Columbia, February 24, 2012 - Toronto based eResearch has issued a StockPotentials report on Noveko International (TSX:EKO). StockPotentials reports cover smaller companies that have little or no following on the Street, that eResearch believes would be primarily of interest to retail investors.
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Noveko is located in Montreal, Canada, has 109 employees, and operates in Canada, France, Luxembourg, Taiwan, and Algeria.
The company is involved in the development and commercialization of ultrasound scanners for use in veterinary and human medicine. This is currently the company's largest revenue generator. The sale of medical equipment and air filtration products represented nearly 95% of Noveko's revenue in 2011, which the balance coming from anti-microbial sanitizers, surgical masks and respirators.
Over the past few years, Noveko has transitioned from a research and development business to the early stages of commercialization. Although Noveko still reports losses, operating results significantly improved during 2011 and early 2012 as the implementation of a number of measures and corporate restructuring generated operating efficiencies.
The company's medical equipment segment succeeded in establishing a solid footprint in the European market of veterinary ultrasound scanners, and subsequently expanded to tap into China's market and include scanners for use in human medicine.
Significant progress was also reported within the air filtration segment, where new customers from different verticals were signed and revenue increased at high double-digit rates. However, the company's primary focus and potential growth engine is its development, manufacturing, and marketing of derivative products from its patented air filtration technologies.
eResearch lists the following strengths for Noveko:
- cost effective air filtration technology
- award winning product offering to capitalize on technology potential
- significant revenue from the sale of medical devices and air filtration products
- distribution agreements to expand the revenue geography and product applications
- real estate opportunity for air filtration could re[present the biggest growth driver over the next few years
eResearch cautions that the company currently has limited financial resources and a history of losses and negative cash flow from operations.
The shares trade at
.23 and with approximately 92 million shares outstanding, the company is capitalized at $21 million.
For more information about the company please visit their website at www.noveko.com,or contact Chantal Vennat, Director, Investor Relations & Corporate Communications, at 514-875-0606 or email cvennat@noveko.com.
For a copy of the report, contact eResearch at www.eresearch.ca. While on their site, sign up for their free reports. eResearch does not receive a fee for the preparation and publication of StockPotentials reports.
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