(Marketwire Via Acquire Media NewsEdge) BOISBRIAND, QUEBEC, May 29 / MARKET WIRE/ --

Raymor Industries Inc. (TSX VENTURE: RAR), a leading developer and producer of single-walled carbon nanotubes, nanomaterials and advanced materials, today released its first quarter 2008 unaudited financial statements, along with the company's Management Discussion and Analysis (MD&A). Raymor posted quarterly revenues of $2,335,487 a 327% increase as compared to the same period in 2007. The Company presents a net loss after depreciation and amortization of $422,627 or ($0.004 per share), as compared to a net loss after depreciation and amortization of $686,295 or ($0.007 per share) for the corresponding period in 2007. When excluding depreciation and amortization, the net loss is stated at $157,491 for the first quarter 2008 as compared to net loss of $527,361 in 2007. For its first quarter 2008, the Company delivered a negative EBITDA of $24,421 as compared to a negative EBITDA of $487,914 for the same period in 2007. The growth in revenue is explained, in part by, the acquisition of its new subsidiary SE Techno Plus Inc.; by new clients now leading to sales during this quarter as a result of the completed qualifications and also by the Company's ability to further grows its existing client base through expansion of its offering of products and technologies in global markets.

Raymor realized a gross margin of 30% as compared to 40% in 2007. This variation in the gross margin is explained by the consolidation of SE Techno Plus Inc.'s results, which exhibits a lower margin than the Company's other divisions.

Selling expenses increased by 20% compared to the same period in 2007. In particular, selling expenses amounted to $234,929 as compared to $196,103 for the same period in 2007. During this quarter, combined with its new subsidiary SE Techno Plus Inc., the Company launched a number of initiatives to improve not only its sales but efficiencies in sales fulfillment.

Administrative expenses amounted to $504,034 as compared to $514,241 for the same period in 2007. Items included under administrative expenses are rent, property taxes, salaries as well as professional expenses such as accounting fees. Dedicated to reducing its administrative expenses and improving its efficiency through its new found economies of scale originating from the acquisition, the Company is investing time and energy in improving its internal business processes.

The Company's total assets amounted to $21,290,433 as at March 31, 2008, compared to $16,592,018 as at December 31, 2007. It has cash and cash equivalents of $1,696,619 as of March 31, 2008 as compared to $1,238,891 as of December 31, 2007. This increase in assets is mainly related to the Company's financing activities which include private and institutional funding received during the first quarter. In the first quarter, additional investments produced by the Company in development costs toward nanotechnology initiatives.

Fixed assets amounted to $6,485,052 as of March 31, 2008 compared to $5,189,769 as of December 31, 2007. This variation is explained by the acquisition of its new subsidiary SE Techno Plus Inc. In fact, an amount of $1,539,800 was accounted towards fixed assets in the first quarter.

Following the acquisition of its subsidiary SE Techno Plus Inc., the Company accounted in its quarterly results for an amount of $864,742 in Goodwill representing the actual plus value realized between the amount paid for the acquisition and the established value of all purchased assets.

Deferred development costs related to its nanotechnology project amounted to $7,090,878 as at March 31, 2008, as compared to $6,682,522 at the end of December 31, 2007. Deferred development costs are composed of legal fees for the maintenance and protection of the Company's intellectual property, additional equipment and related development salaries.

Other highlights from the first quarter of 2008 Financial Statements and MD&A includes the following:

Raymor subsidiaries AP&C Advanced Powders and Coatings Inc. and Raymor Aerospace Inc. successfully completed the following accreditations:

- AP&C has completed the ISO-9001:2000 surveillance audit.

- Raymor Aerospace has completed the AS9100 REV B and ISO-9001:2000 surveillance audit.

Also, the Company's subsidiary Raymor Aerospace Inc. was in the process of acquiring its NADCAP accreditation which was completed after the end of the quarter.

Stephane Robert, President and CEO of Raymor Industries had the following to say:

"We are pleased with our results. Revenue generated reflects the Company's success in offering differentiated advanced materials addressing the needs of the aerospace, biomedical and defence sectors and meeting the needs of clients. Raymor's clients are recognizing the Company's strengths in coatings, metallic powders and single-walled carbon nanotubes. The recent addition of the one-stop-shop approach for the aerospace market, and with the end of qualification period for some clients for our advanced materials will continue to increase Raymor presence and sales in the biomedical, aerospace and defence sectors."

The complete 2008 first quarter results, along with the MD&A are available at www.sedar.com.

About Raymor Industries

RAYMOR INDUSTRIES INC. (TSX VENTURE: RAR) has as its mission to become a leading developer of high technology for the production of single-walled carbon nanotubes, nanomaterials and other advanced materials for high value-added applications. Raymor Industries operates three wholly-owned, industrial subsidiaries, Raymor Nanotech, Raymor Aerospace and AP&C Advanced Powders and Coatings, specializing in nanotechnology and advanced materials, and comprising four divisions: (1) nanotechnology products, including nano-powders, nano-coatings, and single-walled carbon nanotubes (C-SWNT) for "the applications of tomorrow"; (2) thermal spray coatings, which largely targets military, aeronautical, aerospace, specialized industrial, and mining applications; (3) spherical metallic powders, primarily used for biomedical and aerospace applications; and (4) net-shape forming, a component manufacturing technique used for ballistic protection and other aerospace and military applications. Raymor holds the exclusive rights to more than 20 patents throughout the world, with other patents pending.

ON BEHALF OF THE BOARD OF DIRECTORS

Stephane Robert, President.

FOR MORE INFORMATION ON RAYMOR INDUSTRIES, A NANOTECH 100 COMPANY, PLEASE VISIT: http://www.raymor.com

(VERSION FRANCAISE SERA DISPONIBLE SUR LE SITE WEB DE RAYMOR)

Contacts:
Investor Relations:
450-434-1004 ext. 444
1-877-734-1004
450-434-1300 (FAX)investor@raymor.com
Media Relations:media@raymor.com

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