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Nuvo announces 2008 fourth quarter and year-end financial results
Date:2/27/2009

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Summary financial statements attached:

                         CONSOLIDATED BALANCE SHEETS

                                                         As at         As at
                                                   December 31,  December 31,
    (thousands of Canadian dollars)                       2008          2007
                                                             $             $
    -------------------------------------------------------------------------
    ASSETS
    CURRENT
    Cash and cash equivalents                           15,219        21,791
    Accounts receivable                                  2,294         1,802
    Other receivable                                         -           579
    Inventories                                          1,393         1,042
    Prepaid expenses and other                             446           789
    -------------------------------------------------------------------------
    TOTAL CURRENT ASSETS                                19,352        26,003

    Restricted cash                                         93            79
    Property, plant and equipment                        1,990         2,475
    Intangible assets                                        -            90
    -------------------------------------------------------------------------
    TOTAL ASSETS                                        21,435        28,647
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    LIABILITIES AND SHAREHOLDERS' EQUITY
    CURRENT
    Accounts payable and accrued liabilities             2,736         2,994
    Short-term loan                                          -           587
    Deferred revenue                                     2,241         1,2
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SOURCE Nuvo Research Inc.
Copyright©2009 PR Newswire.
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