EXHIBIT 99.1
(NEXTERA LOGO)
Contact:
Michael Muldowney
Chief Operating Officer and Chief Financial Officer
Nextera Enterprises, Inc
(617) 262-0055
NEXTERA ANNOUNCES THIRD QUARTER RESULTS
     Boston, MA — November 9, 2006 —
Nextera Enterprises, Inc. (OTC BB: NXRA) today reported results for the third quarter ended September 30, 2006. In the third quarter of 2006, Nextera recorded a net loss of $0.5 million, or $0.01 per share, compared to a net loss of $0.6 million, or $0.02 per share in the 2005 third quarter. Included in this third quarter loss is a $0.1 million non-cash charge related to the amortization of the step-up in value of inventory acquired as part of Nextera’s acquisition of the Woodridge business in March 2006. Net sales for the 2006 third quarter were $3.8 million. The Company had no sales in the 2005 third quarter as it did not have any operations until the March 9, 2006 acquisition of the Woodridge business.
     “In August, we began distributing our Virtual Laser brand through several of our major retail channels, contributing to a 7% increase in net sales over the previous quarter,” said Joe Millin, President of Nextera.
     As of September 30, 2006, Nextera had cash on-hand of $1.5 million. Outstanding debt under the Company’s credit facility was $11.8 million at September 30, 2006, $0.7 million lower than the prior quarter and $1.2 million lower than the initial debt balance at March 9, 2006. Contributing to the ability of the Company to repay its debt was its receipt of $0.3 million with respect to an indemnity claim under the purchase agreement for the acquisition of the Woodridge business. Nextera also has net operating loss carry-forwards exceeding $54.0 million. A full valuation allowance is maintained on the Company’s deferred tax assets, which includes the loss carry-forwards, due to the uncertainty of utilization of the future tax benefits.
     Non-cash charges were $0.8 million in the quarter, or $0.02 per share. Non-cash charges included $0.5 million in deferred tax expense relating to the goodwill generated in the Woodridge acquisition, $0.1 million of amortization of intangible assets, $0.1 million related to the one-time inventory step-up charge, and $0.1 million related to the expensing of stock options.
           
1
        10 High Street
 
        Boston, MA 02110
 
        617.262.0055 617.262.7105 fax
 
        www.nextera.com

 


The following information was filed by Nextera Enterprises Inc (NXRA) on Thursday, November 9, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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