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Nuvo announces first quarter 2008 financial results
Date:5/1/2008

ww.nuvoresearch.com.

This release may contain forward-looking statements, subject to risks and uncertainties beyond management's control. Actual results could differ materially from those expressed here. Risk factors are discussed in the Company's annual information form filed with the securities commissions in each of the provinces of Canada. The Company undertakes no obligation to revise forward-looking statements in light of future events.

Summary financial statements attached:

NUVO RESEARCH INC.

CONSOLIDATED BALANCE SHEETS

As at As at

March 31, December 31,

2008 2007

Unaudited Audited

(thousands of Canadian dollars) $ $

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ASSETS

CURRENT

Cash and cash equivalents 19,061 21,791

Accounts receivable 2,189 1,802

Other receivable 579 579

Inventories 1,382 1,042

Prepaid expenses and other 902 789

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TOTAL CURRENT ASSETS 24,113 26,003

Restricted cash 89 79

Property, plant and equipment 2,273 2,475

Intangible assets 87 90

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SOURCE Nuvo Research Inc.
Copyright©2008 PR Newswire.
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