20 October 2016
FSI Announces a Small Decrease in Third Quarter Revenue
Victoria, British Columbia- 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 small year over year decrease in revenues for third quarter (Q3) 2016.
Flexible Solutions’ top line revenue decreased from $3.303 million (Q3, 2015) to $3.117 million (Q3, 2016), down approximately 6% year over year. 2016 sales to date were basically unchanged at $12.163 million, compared to sales of $12.168 million during the same period in 2015.
Mr. Dan O’Brien, CEO, comments, “In a quarter where agriculture sales are not a significant factor, the weak oil price has limited our growth, resulting in slightly lower revenue for the quarter.”
Complete financial results will be available after market close on Monday November 14, 2016 concurrent with our SEC quarterly filings. A conference call will be scheduled for 8:00am Pacific Time, 11:00 am Eastern Standard Time, Tuesday, November 15. To participate in the call see the FSI November 14, 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 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.