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Flexible Solutions International Inc.
2008-07-15 07:30:00
VICTORIA, BC–(EMWNews – July 15, 2008) – Flexible Solutions International Inc. (
and environmentally safe water and energy conservation technologies, as
well as anti-scalant technology. Today the Company announces a significant
year-over-year increase in revenues for Second Quarter (Q2), 2008.
Sales into most divisions were strong and, more specifically, the NanoChem
Division sales into agriculture, oil extraction and detergent industries
were significantly stronger than in Q2, 2007. As a result, Flexible
Solutions’ top line revenue was up more than 36% year-over-year when
compared to Q2, 2007. Top line revenue increased from $2.14 million (Q2,
’07) to $2.92 million (Q2, ’08). Note also that in comparing year-over-year
revenue for second quarter, Q2, 2008 revenue is the highest revenue
reported for a Q2 by the Company. This brings first half revenue to $6.42
million, up 45% over first half of 2007.
As reported in previous news releases, Flexible Solutions Management
indicated that any slowdown in revenue growth in 2007 would likely be
temporary. It is anticipated that revenue growth for 2008 may track higher
than analyst expectations. Second Quarter financials will be available by
mid-August 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
statement 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.
If you have received this news release by mistake or if you would like to
be removed from our update list please reply to:
To find out more information about Flexible Solutions and our products
please visit www.flexiblesolutions.com.
| Company Contacts
Jason Bloom Flexible Solutions International |
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