FLEXIBLE SOLUTIONS 1ST QTR 2003 REVENUES TO EXCEED 2002 ANNUAL REVENUES
Tuesday, April 08, 2003 6:05 AM
Further Worldwide Sales Growth Anticipated As Summer Season Approaches
VICTORIA, BRITISH COLUMBIA, April 8, 2003 – FLEXIBLE SOLUTIONS
INTERNATIONAL, INC. (AMEX: FSI, FRANKFURT: FXT), the developer and
manufacturer of environmentally safe water conservation technology, expects
that revenues for the first quarter ended March 31, 2003, will be more than
U.S. $1.3 million, exceeding total annual revenues for all of 2002, it was
announced today by Daniel B. O’Brien, the Company’s President and Chief
Executive Officer.
“We anticipate further growth stemming from our sales and marketing efforts
around the world and from the Company’s ongoing partnership with key
distributors and government entities,” Mr. O’Brien stated. “As we move into
the Northern Hemisphere’s summer season, sales are expected to accelerate
due to greater demand for our water evaporation retardants.”
Flexible Solutions’ Water$avr Global Solutions Inc. wholly owned subsidiary,
based in Yorkville, Ill., accounted for 40% of the Company’s first quarter
revenue due to growing sales of Water$avr, which targets an estimated $7
billion worldwide agricultural and industrial markets. Strong sales in the
swimming pool product division for the Company’s Heat$avr and Tropical
Fish(tm) water evaporation retardants also contributed to the increase.
For the year ended Dec. 31, 2002, Flexible Solutions had total revenues of
$1,112,192, compared with $1,334,273 for 2001.
The Company expects to report actual first quarter financial results on or
before May 15, 2003.
About Flexible Solutions International
Flexible Solutions International, Inc. (www.flexiblesolutions.com
<http://www.flexiblesolutions.com>), the developer and manufacturer of the
world’s first commercially viable water evaporation retardant, is an
environmental technology company specializing in energy and water
conservation products for drinking water, agriculture, industrial markets
and swimming pools throughout the world. Water$avr reduces evaporation by up
to 30% on reservoirs, lakes, aqueducts, irrigation canals, ponds and slow
moving rivers. Water$avr, which is patented, has been certified by the
United Nations, the National Sanitation Foundation (NSF) and meets the
drinking water standards of the American National Standard Institute (ANSI).
Heat$avr, a “liquid blanket” evaporation retardant for the commercial
swimming pool and spa markets, also reduces humidity and lowers water
heating costs, resulting in energy savings of 15% to 40%. The Company’s
Tropical Fish(tm) product targets the residential swimming pool market.
The Private Securities Litigation Reform Act of 1995 provides a “Safe
Harbor” for forward-looking statements. Certain on 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.
Company Contacts:
David Katzov or Grant Moonie
250-477-9821
Jens Biertumpel
604-682-1799
or
The Wall Street Group, Inc.
212-888-4848