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FSI Announces Third Quarter Financial Results

Stocks in this article: FSI

(TABLE FOLLOWS)

* CEO, Dan O’Brien has scheduled a conference call for 11:00am EST, 8:00am PST, Thursday November 15th to discuss the financials. Call 1-480-629-9835 (or 1-877-941-0844), just prior to the scheduled call time. The conference call title, “ Third Quarter Financials,” may be requested. *

The above information and following table contains supplemental information regarding income and cash flow from operations for the 3 & 9 months respectively ended Sept 30, 2012 and 2011. Adjustments to exclude depreciation, stock option expenses, one time charges and certain other expenses are given. This financial information is a non-GAAP financial measure as defined by SEC regulation G. The GAAP financial measure most directly comparable is net income . The reconciliation of each of the non-GAAP financial measures is as follows:

FLEXIBLE SOLUTIONS INTERNATIONAL, INC. Consolidated Statement of Operations For 3 Months Ended Sept. 30 (9 Months Operating Cash Flow) (Unaudited)

  3 months ended Sept. 30
2012   2011
Revenue $3,598,032 $3,861,195
Net income (loss) GAAP $ (458,085) $ (92,293)
Net income (loss) per common share – basic. GAAP $ (0.03) $ (0.01)
3 month weighted average shares used in computing per share amounts – basic. GAAP 13,169,991 13,169,991
 
9 month Operating Cash Flow

Ended Sept. 30

Operating Cash flow (9 months). NON-GAAP

$1,164,841 a

$1,673,240 b

 

Operating Cash flow per share excluding non-operating itemsand items not related to current operations (9 months) – basic. NON-GAAP

$ 0.09 a

$ 0.13 b

Non-cash Adjustments (9 month)

$1,017,770 c

$ 370,111 c

9 month basic weighted average shares used in computing per share amounts – basic GAAP 13,169,991 13,269,926

Notes: certain items, including items not related to operations or current operating activities of the Company, have been excluded from net income as follows: a NON-GAAP amount excludes certain non-cash items (depreciation and stock option expenses - $1,017,770), as well as interest income ($759), gain on sale of equipment ($2,217) and net income taxes charged ($861,468 – 10,000). This is a 9 month number as per financials. b NON-GAAP amount excludes certain non-cash items (depreciation and stock option expenses - $370,111), interest income ($53), as well as net income taxes charged (of $882,634 - $20,000). This is a 9 month number as per financials. c NON-GAAP amount represents depreciation and stock option expenses.

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.

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