NEWS RELEASE
January 14, 2016
FSI Announces fourth Quarter and Full Year 2015 Revenue
VICTORIA, BRITISH COLUMBIA, January 14, 2016 – FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (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 no change in full year 2015 compared to full year 2014.
Sales were lower in Q4, 2015 than in Q4, 2014. Flexible Solutions’ top line revenue decreased from $3.96 million (Q4, ‘15) to $3.73 million (Q4, ‘15), down 6% year over year. Full year 2015 revenue remained unchanged at $15.9 million compared to full year 2014.
A significant dollar value of FSI’s revenue comes from the oil industry which has had a weak year. Consequent difficulty growing oil industry revenue in 2015 and the $300,000 reduction in WaterSavrTM revenue, due to severe flooding in Texas, prevented FSI from achieving year over year revenue growth.
Complete financial results will be announced March 31, 2016 concurrent with our audited SEC full year filings.
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.