FSI Announces a Decrease in Second Quarter Revenue
VICTORIA, BC / ACCESSWIRE / July 20, 2016 / FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE-MKT: 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 decrease in revenues for second quarter (Q2) 2016.
Flexible Solutions' top line revenue decreased from $3.90 million (Q2, 2015) to $3.74 million (Q2, 2016), down 4% year over year. First half of 2016 sales were $9.05 million, up 2% compared to sales of $8.86 million for the first half of 2015.
Complete financial results will be available on August 12, 2016 concurrent with our SEC quarterly filings. A conference call will be scheduled for 8:00 am Pacific Time, 11:00 am Eastern Standard Time, Monday, August 15. See the FSI August 12, 2016 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. 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 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 can result in reduced indoor pool humidity. The Company's Ecosavr™ product targets the residential swimming pool market providing the same savings as Heatsavr™.
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
206 - 920 Hillside Ave, Victoria, BC, V8T 1Z8 CANADA
Company Contacts
Jason Bloom
Tel: 250.477.9969
Toll Free: 800.661.3560
Fax: 250.477.9912
Email: info@flexiblesolutions.com
If you have received this news release by mistake or if you would like to be removed from our update list please reply to: Danielle@flexiblesolutions.com
To find out more information about Flexible Solutions and our products please visit www.flexiblesolutions.com.
SOURCE: Flexible Solutions International, Inc.
