FSI Announces a Decrease in Third Quarter, 2013 Revenue but,
Expects Positive Revenue Growth for Full Year, 2013
VICTORIA, British Columbia--(BUSINESS WIRE)-- FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (AMEX: FSI, FRANKFURT: FXT), isthe developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also manufactures biodegradable and environmentally safe water and energy conservation technologies. Today the Company announces a year over year decrease in revenues for third quarter (Q3), 2013.
Sales were lower in Q3, 2013 than in Q3, 2012. As a result, Flexible Solutions' top line revenue decreased from $3.598 million (Q3, '12) to $2.9786 million (Q3, '13), down 17% year over year.. Total 9 month revenue for 2013 stands at $12.368 million compared to $12.554 million for 2012 or down approximately 1% year over year. Despite the lower Q3 revenue number, full year revenue is expected to be higher in 2013 than in 2012.
Complete financial results will be available by November 14,2013 concurrent with our SEC third quarter filings.
About Flexible Solutions International
Flexible Solutions International, Inc. (www.flexiblesolutions.com), based in Victoria, British Columbia, is an environmental technology company. The Company's NanoChem Solutions Inc. subsidiary specializes in biodegradable, water-soluble products utilizing thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are manufactured from the common biological amino acid, L-aspartic and have wide usage including scale inhibitors, detergent ingredients, water treatment and crop enhancement. The other divisions manufacture 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 can result in reduced indoor pool humidity. The Company's Ecosavr product targets the residential swimming pool market providing the same savings as Heatsavr.
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.
Flexible Solutions International
615 Discovery Street, Victoria, BCV8T 5G4 CANADA
Toll Free: 800.661.3560
To find out more information about Flexible Solutions and our products please visit www.flexiblesolutions.com
Jason Bloom, 250.477.9969
Toll Free: 800.661.3560
KEYWORDS: North America Canada
The article FSI Announces a Decrease in Third Quarter, 2013 Revenue but, Expects Positive Revenue Growth for Full Year, 2013 originally appeared on Fool.com.
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