FSI Announces First Quarter Revenues Significantly Above Expectations
SOURCE:
Flexible Solutions International, Inc.
2008-04-08 05:30:00
FSI Announces First Quarter Revenues Significantly Above Expectations
VICTORIA, BC–( EMWNews – April 8, 2008) – Flexible Solutions International, Inc. (
and environmentally safe water and energy conservation technologies, as
well as anti-scalant technology. Today the Company announces significant
year over year increase in revenues for First Quarter (Q1) 2008.
Sales into most divisions were strong and more specifically the NanoChem
Division sales into agriculture, oil extraction and detergent industries
were stronger than expected in Q1. As a result, Flexible Solutions’ top
line revenue was up more than 50% year over year when compared to Q1, 2007.
Top line revenue increased from $2.3million (Q1, ’07) to 3.5million (Q1,
’08). Note also that Q1, ’08 revenue is the largest quarterly revenue the
Company has reported to date.
As reported in previous news releases, Flexible Solutions Management
indicated that any slow down in revenue growth in 2007 would likely be
temporary. It is anticipated that revenue growth for 2008 may track higher
than analyst expectations. First Quarter financials will be available by
mid-May when the Company’s auditors have completed their review.
About Flexible Solutions International
Flexible Solutions International, Inc. (www.flexiblesolutions.com), based
in Victoria, British Columbia, is an environmental technology company
specializing in energy and water conservation products for drinking water,
agriculture, industrial markets and swimming pools throughout the world.
FSI is the developer and manufacturer of WaterSavr, the world’s first
commercially viable water evaporation retardant. WaterSavr reduces
evaporation by up to 30% on reservoirs, lakes, aqueducts, irrigation
canals, ponds and slow moving rivers. Heatsavr, a “liquid blanket”
evaporation retardant for the commercial swimming pool and spa markets,
reduces energy costs by 15% to 40% and, further results in reduced indoor
humidity. The Company’s Ecosavr product targets the residential swimming
pool market. The Company’s Nanochem Solutions, Inc. subsidiary specializes
in environmentally friendly, green chemistry, water-soluble products
utilizing thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are
manufactured from the common biological amino acid, L-aspartic acid.
Safe Harbor Provision
The Private Securities Litigation Reform Act of 1995 provides a “Safe
Harbor” for forward-looking statements. Certain of the statements
contained herein, which are not historical facts, are forward-looking
statements with respect to events, the occurrence of which involve risks
and uncertainties. These forward-looking statements may be impacted,
either positively or negatively, by various factors. Information
concerning potential factors that could affect the company is detailed from
time to time in the company’s reports filed with the Securities and
Exchange Commission.
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To find out more information about Flexible Solutions and our products
please visit www.flexiblesolutions.com.
| Company Contacts: Jason Bloom Tel: 250.477.9969 Toll Free: 800.661.3560 Fax: 250.477.9912 Email: Flexible Solutions International |
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