19 January 2017
FSI Announces Fourth Quarter and Full Year 2016 Revenue
VICTORIA, BRITISH COLUMBIA, January 19, 2017 – 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 increase in revenue for fourth quarter (Q4) and full year 2016.
Flexible Solutions’ top line quarterly revenue increased from $3.731 million (Q4, 2015) to $4.090 million (Q4, 2016), up approximately 10% year over year. Full year 2016 revenue was $16.253 million, up 2%, compared to sales of $15.899 million during the same period in 2015.
Complete financial results will be available after market close on Friday March 31, 2017 concurrent with our SEC quarterly filings. A conference call will be scheduled for 8:00am Pacific Time, 11:00 am Eastern Standard Time on Monday, April 3, 2017. To participate in the conference call see the FSI March 31, 2017 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. The Company’s EcosavrTM product targets the residential swimming pool market providing the same savings as HeatsavrTM.
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.