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

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TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 26,562 28,647

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NUVO RESEARCH INC.

CONSOLIDATED STATEMENTS OF LOSS, COMPREHENSIVE LOSS AND DEFICIT

Three-months ended

Unaudited March 31, March 31,

(thousands of Canadian dollars 2008 2007

except per share amounts) $ $

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REVENUE

Product sales 1,975 702

Cost of goods sold 1,084 755

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Gross margin (loss) on product sales 891 (53)

Other revenue

Licensing fees 250 250

Research and other contract revenue 11 26

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1,152 223

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EXPENSES

Research and development 2,104 1,746

Selling, general and administrative expenses 1,124 1,447

Stock-based compensation 150 163

Amortization of property, plant, and equipment

and intangibles 205 211

Foreign currency (gain) loss
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SOURCE Nuvo Research Inc.
Copyright©2008 PR Newswire.
All rights reserved

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