FSI($1.86) disappoints; Q2 revenues decline sequentially....
FSI Announces a Decrease in Second Quarter, 2015 Revenue.
First Half Revenue Increases Year over Year
Victoria, British Columbia (FSCwire) - 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 a year over year decrease in revenue for second quarter (Q2), 2015.
Sales were lower in Q2, 2015 than in Q2, 2014. Flexible Solutions top line revenue decreased from $4.29 million (Q2, 14) to $3.90 million (Q2, 15), down 9% year over year. For the 6 months ended June 30, 2015 sales were up from $8.10million to $8.86million, up 9% year over year.
Mr. Dan OBrien, Chief Executive Officer reports, This quarter had somewhat lower revenue than expected, possibly because the excellent first quarter pulled sales from Q2. The results of the first two quarters average to the low end of the growth we anticipate this year.
Complete financial results will be available by August 14, 2015 concurrent with the Companys SEC quarterly filing.
About Flexible Solutions International
Flexible Solutions International, Inc. (www.flexiblesolutions.com), based in Victoria, British Columbia, is an environmental technology company. The Companys 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 WaterSavr, the worlds 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 can result in reduced indoor pool humidity. The Companys Ecosavr product targets the residential swimming pool market providing the same savings as Heatsavr.
Aspire to inspire before you expire.
