Groupe Athena, Inc. Releases 3rd Quarter Financials, Continues Strong Revenue And Earnings Growth
MUMBAI, India, April 10, 2013 /PRNewswire/ -- Groupe Athena, Inc. (OTCPink: GATA) today released their quarterly report for the three months ending March 30, 2013. Revenues for the period were $13,378,452 which represents a 29% increase over the same period in 2012. Net after tax income for the period was $1,319,920 or $.03 per share.
Cumulative revenue for the trailing twelve months (ttm) was $53,569,759 with per share earnings of $.11 per share.
Cash reserves remain strong and continue to grow and long term debt remains virtually non-existent as the Company prepares to outfit its recently purchased new testing facility. The company reports it is still committed to funding all capital expenditures entirely from internal cash accruals without any shareholder dilution or debt increases.
Company Chairman, D. Purohit stated, "At Groupe Athena we strive to create shareholder value as a component of our business model and our current price to earnings ratio and share valuation is a fraction of our industry peers which is indicative of those efforts. The Indian pharmaceutical industry continues to be a global leader and experience superior growth which is creating new pathways for Groupe Athena to follow."As previously stated, the company plans to apply for listing on the NASDAQ Bulletin Board quotation system with the completion of the audit for this fiscal year ending June 30, 2013. 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 17 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 For more information contact: Paul Cornell Corporate Shareholder Relations, Inc. firstname.lastname@example.org 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. SOURCE Groupe Athena, Inc.
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