Advanced Materials Group, Inc. (Pink Sheets: ADMG), a leading
developer and manufacturer of medical, consumer and industrial
products, today announced impressive revenues of $10,672,786 for
the fiscal year (FY) ended November 30, 2007, an increase of 6.8%
over the same period in 2006. The company also reported basic and
diluted earnings per share for the fiscal year (FY) ended November
30, 2007 were $0.07 compared to $0.11 for the same period in 2006.
In addition, the company�s ongoing cost savings plan and increase
in sales resulted in a significant reduction in expenses to 12.3%
or $1,643,524 from $1,874,791 over the same period in 2006. �The
close of Advanced Material Group Inc.�s 2007 fiscal year marks not
only a period of strong operating performance for the company,
including solid revenues and the successful deployment of our
proprietary product plan, but also further demonstrates that our
business strategy is working,� said Will Mortensen, President of
Advanced Materials Group, Inc. �Driving these results are a
continued to commitment to our core competencies in manufacturing,
engineering and fulfillment as well as our ongoing efforts to drive
new customer acquisition through the introduction of innovative new
products like Nundies.� Advanced Materials Group, Inc. celebrated
the following key accomplishments in fiscal year 2007: Achievement
of ISO 13485 certification, which signifies the positive assessment
of the Company�s medical device quality Successful launch Nundies
product, a one-time use, pantyless panty that adheres to the inside
inseam of a woman�s pants across 400 stores throughout the United
States Obtained $2,000,000 line of credit from JPMorgan Chase Bank,
N.A. as capital to drive business operations and to support the
Company�s proprietary product research and development efforts
Executed important equipment upgrades and controlled environment
production facility improvements About Advanced Materials Group,
Inc. Dallas�based Advanced Materials Group, Inc. is a leading
developer and manufacturer of medical, consumer and industrial
products for top Medical OEM's and retailers nationwide. Under the
direction of the President, William G. Mortensen and its board of
directors, the company has increased shareholder value by
developing and selling proprietary and patented products and
providing customized contract manufacturing services to many
Fortune 100 companies. Advanced Materials Group, Inc. offers
complete end-to-end solutions for it customers as well as its own
product line. Services offered include contract manufacturing,
engineering and fulfillment services. Statements in this release
which are purely historical facts or which necessarily depend upon
future events, including statements about forecasted financial
performance or other statements about anticipations, beliefs,
expectations, hopes, intentions or strategies for the future, may
be forward-looking statements within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended. Readers are
cautioned not to place undue reliance on forward-looking
statements. All forward-looking statements are based upon
information available to Advanced Materials Group, Inc. on the date
this report was submitted. Advanced Materials Group, Inc.
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Any forward-looking statements involve
risks and uncertainties that could cause actual events or results
to differ materially from the events or results described in the
forward-looking statements. Advanced Materials Group, Inc. may not
succeed in addressing these and other risks. Further information
regarding factors that could affect our financial and other results
can be found in the risk factors section of Advanced Materials
Group, Inc.'s most recent filing of Form 10-K with the Securities
and Exchange Commission. � � ADVANCED MATERIALS GROUP, INC.
CONSOLIDATED BALANCE SHEETS � YEARS ENDED NOVEMBER 30, 2007 2006
ASSETS Current Assets: Cash and cash equivalents $ 462,701 $
441,860 Accounts receivable 1,799,657 1,519,282 Inventories
1,086,968 815,422 Prepaid expenses and other assets 398,133 253,476
Deferred tax assets � 858,064 � � 634,000 � Total current assets
4,605,523 3,664,040 Property and equipment, net 736,398 342,237
Other assets � 69,395 � � 75,703 � Total assets $ 5,411,316 � $
4,081,980 � LIABILITIES AND STOCKHOLDERS' EQUITY Current
liabilities: Accounts payable 251,301 405,493 Accrued liabilities
119,468 185,155 Notes payables - related parties -- 43,952 Line of
credit 1,354,167 855,850 Current portion of capital lease
obligations � 59,782 � � 19,728 � Total current liabilities
1,784,718 1,510,178 Capital lease obligations, net of current
portion 122,442 19,685 Total liabilities 1,907,160 1,529,863
Commitments and contingencies -- -- Stockholders' equity: Preferred
stock-$.001 par value; 5,000,000 shares authorized; no shares
issued and outstanding -- -- Common stock-$.001 par value;
25,000,000 shares authorized; 12,146,026 and 12,116,026 shares
issued and outstanding at November 30, 2007 and 2006 12,146 12,116
Additional paid-in capital � 8,494,971 � � 8,355,497 � Accumulated
deficit $ (5,002,961 ) $ (5,815,496 ) Total stockholders' equity �
3,504,156 � � 2,552,117 � Total liabilities and stockholders'
equity $ 5,411,316, � $ 4,081,980 � � � ADVANCED MATERIALS GROUP,
INC. CONSOLIDATED STATEMENTS OF OPERATIONS � YEARS ENDED NOVEMBER
30, 2007 2006 Net sales $ 10,672,786 $ 9,996,280 Cost of sales
(including depreciation of $109,102 and $144,165 for the years
ended November 30, 2007 and 2006, respectively) � 8,335,899 � �
7,221,442 � Gross profit � 2,336,887 � � 2,774,838 � Operating
expenses: Selling, general and administrative 1,643,524 1,874,791
Depreciation and amortization � 40,321 � � 84,608 � Total operating
expenses � 1,683,845 � � 1,959,399 � Income from operations �
653,042 � � 815,439 � Other (expense) income: Interest expense
(92,630 ) (137,823 ) Other, net � 33,010 � � 22,357 � Total other
expense, net (59,620 ) (115,466 ) Income from operations before
income tax benefit 593,422 699,973 Income tax benefit � 219,113 � �
634,000 � Net income with income tax benefit $ 812,535 � $
1,333,973 � � � � � Net income per share basic and diluted $ 0.07 �
$ 0.11 � Weighted average common shares outstanding: Basic
12,142,943 12,116,026 Diluted 12,372,229 12,195,704
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