NOVORI (NOVO) REPORTS 1st PROFITABLE QUARTER
www.novori.com Increases in all Significant Metrics
BELLINGHAM, WA, November 26, 2007 - Novori Inc. (OTCBB: NOVO) -- a leading online interactive retailer of fine diamond engagement rings and jewelry - is pleased to announce that results for the quarter ended August 2007, were much stronger than results for the same time period last year.
Novori's performance excelled across several metrics:
* The dollar amount of sales orders increased by 40%
* Gross profit increased by 300%
* Traffic to the website was 117% of last years traffic
* Revenues increased from $333,406 to $468,315 contributing to the Company's first profitable quarter
"We are of course pleased with the progress the Company is making. We are performing very well in every measurable metric that makes a difference in our industry. We expect growth to continue, because we still have not advertised in any meaningful way, and our media campaign was not launched during that time period." stated Mark Neild, CFO of Novori, Inc.
The industry as a whole has continued to prosper as online jewelry remains one of the fastest growing segments in ecommerce. For example, Blue Nile increased its sales by approximately 26% for its quarter ended September 2007 as compared to September 2006.
With consumers becoming more comfortable with buying luxury goods online, jewelry is a category that is gaining momentum. According to Jupiter Research, in 2004 U.S. online sales of fine jewelry grew 19.3% from the prior year to $1.7 billion. Furthermore, Jupiter projects that by 2009, online sales of fine jewelry should hit $2.7 billion, or 6.6% of the total market.
About Novori Inc.:
Founded in 2004, Novori is a leading online interactive retailer of diamond engagement rings and fine jewelry. Launched in 2005, Norvori's well respected brand provides consumers with superior customer service and a better way to buy diamond jewelry. Novori prides itself on the highest quality standards in the industry and offers consumers unique online tools that allow them to explore, build and purchase their own custom made diamond rings in a way not previously offered by traditional retailers. Novori's website offers thousands of independently certified diamonds, settings and fine jewelry at prices significantly below traditional retail.
Contact:
Media Contact Investor Relations
702-300-1725 1-888-646-5677
pr@novori.com ir@novori.com
Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Such statements are indicated by words or phrases such as "believe," "will," "breakthrough," "significant," "indicated," "feel," "foresee," "revolutionary," "should," "ideal," "extremely," and "excited." These statements are made under "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those described in forward-looking
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