MUMBAI, INDIA / ACCESSWIRE / July 28, 2014 / Groupe Athena, Inc. (OTC Pink: GATA) has posted the results for their fiscal year ending June 30, 2014. Annual revenue for the period was $65,189,762 which is an increase of more than 15% over the previous record fiscal year and represents an amazing 5th consecutive double digit increase in annual revenue. EBITDA for the year was also a record $10,938,698 and net after tax income for the period was $6,501,645 or $.14 per share.
Current assets continue to remain strong at $14,988,476 and total assets minus liabilities are $22,196,645 or $.47 per common share.
Company chairman, D. Purohit stated, "We are very proud to be able to maintain our strong growth path while still being able to internally finance and entertain new and developing revenue strategies. I truly believe our current research and development efforts will enable Groupe Athena, Inc. to become even more dynamic within our industry for many years to come."
The company reports that though they are presently committed to funding all expenditures with internally generated funds, they may seek investment banking partners in the future to capitalize on specific growth opportunities to benefit the shareholders of GATA.
To review the complete quarterly report please go to www.otcmarkets.com/stock/GATA/quote and click on "Financials".
The Indian pharmaceutical industry is increasingly focusing on exports to the United States and GATA is well positioned to help them get their products approved by the FDA for sales in the US. All of these are potential clients and the Company believes it has an advantage over competitors due to the facilities based in India, and their ability to deliver quick feedback to clients that could result in expedited order generation. With recent additions to equipment, the company will continue to take on additional contracts and continue to anticipate further growth.
About Groupe Athena, Inc.
Groupe Athena Inc. was incorporated in June 2008 and began operations on July 1 of that year. The company is a research and testing organization and helps various pharmaceutical and medical products and devices companies in India and Southeast Asia to get regulatory approvals and facilitate exports of their products to the United States. The Company accomplishes this by assisting clients from concept through development, providing consultation on regulatory requirements, filings and processes.
The company has a research and marketing facility in India that currently employs 21 consultants and marketing personnel and is working towards aggressively expanding its presence in the Indian pharmaceutical industry. The Company's web address is www.groupeathena.com.
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements.” Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.
For more information contact:
Paul Cornell
Corporate Shareholder Relations, Inc.
[email protected]
SOURCE: Groupe Athena, Inc.