NWBD New World Brands Inc (CE)

New World Brands Inc. (NWB) (OTCBB:NWBD) (www.nwbtechnologies.com) announces financial results for the third quarter ended September 30, 2008. FINANCIAL HIGHLIGHTS: New World Brands Inc. registered its first-ever quarterly profit, earning $436,882 in the third quarter of 2008. Sales were $5,818,906 primarily driven by a 63% increase in the NWB Telecom division, while sales in the NWB Networks hardware division were flat in the quarter. New World Brands� complete financial results are detailed in the Company�s latest Form 10-Q, filed on November 14, 2008, which can be viewed at http://sec.gov/Archives/edgar/data/799426/000110465908071057/a08-28403_110q.htm. Some selected information from the quarterly statement is presented below: Revenues � increase in 2008 over 2007 and already exceeded 2007 total revenue Increase of 39.14% in Q3 2008 from Q3 2007 Increase in the nine months ended September 30, 2008 of 47.86% over the first nine months of 2007 Year to date (nine months) revenue of $17,503,242 has surpassed the total revenue from continuing operations for the twelve months of 2007 of $17,101,203 Net Income before Taxes � increase in 2008 over 2007 Increase of 170.06% in the third quarter of 2008 over the same time period in 2007 or a profit of $436,882 compared to a loss of $623,579 during Q3 of 2007 The year to date loss decreased by 70.3% for the nine months ended September 30, 2008 or a loss of $538,138 vs. a loss of $1,814,871 in 2007 Cashflow � still net cashflow negative in 2008 but at a reduced amount compared to 2007 Total net use of cash in 2008 year to date of $822,553 compared to 2007 of $1,885,641 New World Brands repurchased 5,000,000 shares of the company�s stock into treasury during the quarter for a total cash outlay of $125,000 during Q3 2008. David Kamrat, Chief Executive Officer, commented: �We are very pleased with our third quarter results. These results demonstrate how great teamwork and great products produce positive results.� A FULL VERSION OF BOTH THE CHIEF EXECUTIVE OFFICER'S STATEMENT AND THE CONSOLIDATED PROFIT AND LOSS ACCOUNTS ARE AVAILABLE ON THE NEW WORLD BRANDS WEBSITE (www.nwbtechnologies.com). About New World Brands New World Brands is a state-of-the-art Telecommunications Technology Company that provides cost effective, reliable, scalable products and services on a global basis specializing in International industry leading telephony solutions. NWB expertise include international Voice Over IP (VoIP) call termination, data, and proprietary break through (GSM) mobile communication solutions. The New World Brands Family of Companies includes three main divisions, NWB Networks, NWB Telecom, and NWB Planet Verde. The NWB Networks division manages the combined hardware offerings of TELES USA, IP Gear and Qualmax. TELES USA is the exclusive partner of TELES AG, a leading Berlin, Germany and Israel-based hardware and software manufacturer focused on telephony products. NWB Telecom division trades in wholesale telecom traffic focused on direct international route using Teles technology. NWB Planet Verde is the social commitment arm dedicated to bridging the digital divide , using the values of fair trade, and providing country of origin value to the large population of first and second generation immigrants residing in the USA. NWB enables businesses to drastically reduce their costs by extending their legacy PBX's to VoIP and GSM networks. New World Brands innovative research and development team along with a multi-divisional approach is designed to help businesses deploy the most effective technologies available in the evolving IP marketplace today. For more information, please visit our website at www.nwbtechnologies.com. Safe Harbor We caution readers that this Report contains �forward-looking statements� within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, written, oral or otherwise, are based on the Company�s current expectations or beliefs rather than historical facts concerning future events, and they are indicated by words or phrases such as (but not limited to) �anticipate,� �could,� �may,� �might,� �potential,� �predict,� �should,� �estimate,� �expect,� �project,� �believe,� �think,� �intend,� �plan,� �envision,� �continue,� �intend,� �target,� �contemplate,� or �will� and similar words or phrases or comparable terminology. Forward-looking statements in this release also include statements about business and economic trends. Many factors may cause our actual results to differ materially from those described in forward-looking statements, including without limitation those described under �Certain Risk Factors� in our Annual Report on Form 10-K/A, as filed with the SEC on May 13, 2008, and specifically including the risk that management�s assumptions and analysis of the potential market for existing and new products, and our competitive position in that market, prove untrue, and the risk that management will not be able to successfully address changing market conditions. New World Brands, Inc. also disclaims any duty to comment upon or correct information that may be contained in reports published by the investment community.