GATA..Groupe Athena, Inc. (Pink sheets GATA.PK) has previously announced they have approximately $60 million in customer orders that they are processing and they expect to be able to convert at least two thirds or approximately $40 million into revenue for the current fiscal year. The company is extremely pleased to issue this guidance update and announce that due to several factors including additional order flow and the recent equipment acquisitions, revenue should increase at least 10% or a minimum of $4 million. Earnings are also expected to increase similarly.
The company also announced they are in talks with several regional drug manufacturers as part of an effort to help alleviate the recently announced severe, potentially life threatening shortage of vital cancer drugs in the United States including methatrexate, one of the most widely used. The company expects developments in the near term and has committed to make every effort to "fast track" any trials or regulatory filings necessary.
The Indian pharmaceutical industry is increasingly focusing on exports to the United States and GATA is well positioned to help them get their products approved by the FDA for sales in the US. All of these are potential clients and the Company believes it has an advantage over competitors due to the facilities based in India, and their ability to deliver quick feedback to clients that could result in expedited order generation. With recent additions to equipment, the company will continue to take on additional contracts and continue to anticipate further growth.
