April 13, 2010
FSI Announces First Quarter 2010 Revenues Significantly Above First Quarter 2009
VICTORIA, BRITISH COLUMBIA, April 13, 2010 – 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 technology, and detergent and agricultural products. Today the Company announces a significant year over year increase in revenues for First Quarter (Q1), 2010.
Sales into oil extraction, agriculture and detergent industries were significantly higher than in Q1, 2009. As a result, Flexible Solutions’ top line revenue was up 29% year over year when compared to Q1, 2009. Top line revenue increased from $2.66million (Q1, ‘09) to $3.43million (Q1, ‘10).
It is anticipated that revenue for full year 2010 will continue to track higher than 2009. First Quarter financials will be available by mid-May when the Company’s auditors have completed their review.
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.