FSI Announces a Decrease in First Quarter, 2014 Revenueadmin
FSI Announces a Decrease in First Quarter, 2014 Revenue
Victoria, British Columbia CANADA, April 11, 2014 /FSC/ – Flexible Solutions International Inc. (FSI – NYSE Amex, FXT – FWB),is the 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 first quarter (Q1), 2014.
Sales were lower in Q1, 2014 than in Q1, 2013. Flexible Solutions’ top line revenue decreased from $4.50 million (Q1, ’13) to $3.81 million (Q1, ’14), down 15% year over year.
The exceptional cold weather during the quarter reduced uptake by certain agricultural customers. We expect sales in Q2 will recover some of those missed in Q1.
Complete financial results will be available by May 15, 2014 concurrent with our SEC quarterly filing.
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, BC
V8T 5G4 CANADA
Toll Free: 800.661.3560
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Source: Flexible Solutions International Inc. (NYSE Amex: FSI) (FWB: FXT) http://www.flexiblesolutions.com
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Posted: April 11th, 2014 under FSCWIRE.