Flexible Solutions International, Inc.
FSI Announces Fourth Quarter, 2018 Revenue
Thursday, February 7, 2019 4:30 PM
VICTORIA, BC / ACCESSWIRE / February 7, 2019 / FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE-AMERICAN: FSI, FRANKFURT: FXT), 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 Increase in revenues for fourth quarter (Q4), 2018.
Sales were higher in Q4, 2018 than in Q4, 2017. Flexible Solutions' top line revenue increased from $2.84 million (Q4, 2017) to $5.62 million (Q4, 2018), up approximately 98% year over year.
Mr. Dan O'Brien comments, "The revenue increase is a combination of increased sales in our historic business and the first quarter of consolidated revenue from the acquisition made in Q4 2018." Mr. O'Brien continues, "We apologize to shareholders for the slow release of top line revenue for Q4. The delay was because the acquisition required integration of data for the first time and we wanted to be sure it was as accurate as possible. We hope to resume more timely revenue releases beginning with Q1 2019."
Complete financial results will be available on April 1, 2019 concurrent with the Company's SEC quarterly filings. A conference call will be scheduled for 8:00 am Pacific Time, 11:00 am Eastern Standard Time, the following day, April 2. See the FSI April 1, 2019 financials news release for the dial in numbers.
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. Along with TPA, this division started producing other crop enhancement products as well. 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 WaterSavrTM, the world's first commercially viable water evaporation retardant. WaterSavrTM reduces evaporation by up to 30% on reservoirs, lakes, aqueducts, irrigation canals, ponds and slow moving rivers. HeatsavrTM, 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.
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
6001 54th Ave, Taber, Alberta, CANADA T1G 1X4
Toll Free: 800.661.3560
Email: [email protected]
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To find out more information about Flexible Solutions and our products please visit www.flexiblesolutions.com
SOURCE: Flexible Solutions International, Inc.