News Release
July 8, 2010
FSI Announces Second Quarter 2010 Revenues Significantly Above Second Quarter 2009
VICTORIA, BRITISH COLUMBIA, July 8, 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 Second Quarter (Q2), 2010.
Sales into oil extraction, agriculture and detergent industries were significantly higher than in Q2, 2009. As a result, Flexible Solutions’ top line revenue was up 25% year over year when compared to Q2, 2009. Top line revenue increased from $2.27million (Q2, ‘09) to $2.83million (Q2, ‘10).
It is anticipated that revenue for full year 2010 will continue to track higher than 2009. Second quarter financials will be available by mid-August 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.
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.