Attached files
EXHIBIT 99.1
NEWS RELEASE April 7, 2011
FSI Announces First Quarter 2011 Revenue 29% Above 2010 Period
VICTORIA, BRITISH COLUMBIA, April, 7, 2011 - 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, detergent, water and
agricultural technology. Today the Company announces a significant year over
year increase in revenues for First Quarter (Q1), 2011.
Sales into oil extraction, agriculture and detergent industries were much higher
than in Q1, 2010. As a result, Flexible Solutions' top line revenue increased
from $3.38million (Q1, `10) to $4.36 million (Q1, `11), up 29% year over year.
The largest driver of FSI's sales growth was agricultural sales. The product is
used to increase fertilizer availability to crops giving higher yields with no
increase in the amount of fertilizer used.
CEO Dan O'Brien states, "This quarter's revenue confirms our strategy of
increased focus on sales into the agriculture market. World crop prices are very
strong, resulting in greater interest in ways to increase yields. We will
further our efforts in agriculture with the expectation of continued growth."
Mr. O'Brien adds, "It is also worth noting that this quarter is the first
quarter that FSI has achieved revenue above $4 million."
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.
Flexible Solutions International
615 Discovery Street, Victoria, BC V8T 5G4 CANADA
Company Contacts
Jason Bloom
Tel: 250.477.9969
Toll Free: 800.661.3560
Fax: 250.477.9912
Email: info@flexiblesolutions.com
If you have received this news release by mistake or if you would like to be
removed from our update list please reply to: Laura@flexiblesolutions.com
To find out more information about Flexible Solutions and our products please
visit www.flexiblesolutions.co
