NEWS RELEASE

                                              

                         April 20, 2021                          

                      

FSI Announces First Quarter, 2021 Revenue

 

 

VICTORIA, BRITISH COLUMBIA, April 20, 2021 – FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE-AMERICAN: 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 year over year decrease in revenues for first quarter (Q1), 2021.

 

Sales were lower in Q1, 2021 compared to Q1, 2020. Flexible Solutions’ top line revenue decreased from $8.429 million (Q1, 2020) to $7.623million (Q1, 2021), down approximately 10% year over year.

 

Dan O’Brien, CEO, states, “Shipping constraints, both inbound and outbound shifted revenue out of Q1 and into Q2.” Mr. O’Brien continues, “While we can’t control in which quarter orders and shipments will land, we continue to expect growth for the full year of  2021”.

 

Complete financial results will be available on May 14, 2021 concurrent with the Company’s SEC quarterly filings. A conference call will be scheduled for 8:00 am Pacific Time, 11:00 am Eastern Standard Time, the following business day, Monday, May 17. See the FSI May 14, 2021 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. Along with TPA, this division started producing other crop enhancement products as well. 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.

 

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.