FSI Announces 39% Increase In Second Quarter Revenue
FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (AMEX: FSI, FRANKFURT: FXT), is
the developer and manufacturer of biodegradable and environmentally
safe water and energy conservation technologies, as well as oil field
FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (AMEX: FSI, FRANKFURT: FXT), is the developer and manufacturer of biodegradable and environmentally safe water and energy conservation technologies, as well as oil field anti-scalant, detergent, water and agricultural technologies. Today the Company announces a significant year over year increase in revenues for second quarter (Q2), 2011. Sales into oil extraction, agriculture and detergent industries were much higher than in Q2, 2010. As a result, Flexible Solutions’ top line revenue increased from $2.83million (Q2, ‘10) to $3.93million (Q2, ‘11), up 39% year over year. The largest driver of FSI’s sales growth has been agricultural sales. The product is used to increase fertilizer availability to crops giving higher yields with no increase in the amount of fertilizer used. The cost of using our product is a fraction of the value of the yield increase, which results in net profits for farmers. Mr. Dan O’Brien, CEO, comments, “The revenue increases FSI reports are the result of hard work by our sales and operating people. I am pleased to lead such a strong team.” Complete financial results will be available August 15 th. About Flexible Solutions International Flexible Solutions International, Inc. ( www.flexiblesolutions.com), based in Victoria, British Columbia, is an environmental technology company specializing in 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, further results in reduced indoor humidity. The Company’s Ecosavr product targets the residential swimming pool market. The Company’s Nanochem Solutions, Inc., subsidiary specializes in environmentally friendly, green chemistry, water-soluble products utilizing thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are manufactured from the common biological amino acid, L-aspartic acid. 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.