FSI Announces Fourth Quarter 2017 Revenue
Victoria, British Columbia (FSCwire) - FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (MKT(AMEX): 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 fourth quarter (Q4) 2017.
Sales were lower in Q4, 2017 than in Q4, 2016. Flexible Solutions’ top line revenue decreased from $4.08 million (Q4, 2016) to $2.84 million (Q4, 2017), down approximately 30% year over year.
CEO Dan O’Brien states, “The revenue decrease is a combination of reduced uptake by certain customers and product that was sold but not shipped prior to the year end. The unshipped product has left the factory and will be included in Q1 2018 revenue. We are focused on recovering the uptake reduction as quickly as possible.”
Complete financial results will be available at market close on April 2, 2018, concurrent with the Company’s SEC full year audited filings. A conference call will be scheduled for 8:00 am Pacific Time, 11:00 am Eastern Standard Time, Tuesday, April 3, 2018. See the FSI April 2, 2018 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 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 AB, T1G 1X4, CANADA
Toll Free: 800.661.3560
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Source: Flexible Solutions International Inc (NYSE MKT:FSI, FWB:FXT)
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