MUMBAI, India, Aug. 15, 2011 /PRNewswire/ -- Groupe Athena, Inc.
(Pink Sheets: GATA) made the following announcement:
The guidance contained below represents forecasts, which
indicate possible outcomes and are provided to assist investors
with the development of earnings estimates. While Groupe Athena,
Inc. believes that these forecasts represent the best estimate of
management as to future events, actual events may differ from these
forecasts, and such differences could be material. These forecasts
are subject to risks identified under "Safe Harbor Statement"
below.
Groupe Athena, Inc. announced today they have approximately
$60 million in customer orders that
they are currently processing, and they are hopeful that this
number will increase in the near term. Based on the orders in
hand the company expects to be able to convert at least two thirds
or approximately $40 million into
revenue during the current fiscal year.
The company also stated that due to the recent capital
investments in equipment and facilities which has increased their
ability to perform more services in-house, they will to be able to
increase net profit margins on future revenues by 1.5-2%.
The company is still committed to funding all capital
expenditures entirely from internal cash accruals without any
further dilution or debt increases.
As was previously stated, 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.
About Groupe Athena, Inc.
Groupe Athena, Inc. was incorporated in June 2008 and began operations on July 1 of that year. The company is a research
and testing organization and helps various pharmaceutical and
medical products and devices companies in India and Southeast
Asia to get regulatory approvals and facilitate exports of
their products to the United
States. The Company accomplishes this by assisting clients
from concept through development, providing consultation on
regulatory requirements, filings and processes.
The company has a research and marketing facility in
India that currently employs 15
consultants and marketing personnel and is working towards
aggressively expanding its presence in the Indian pharmaceutical
industry. The Company's web address is www.groupeathena.com.
For more information contact:
Paul Cornell
Corporate Shareholder Relations, Inc.
pcornell@totalpublicrelations.com
Safe Harbor Statement
Certain statements set forth in this press release constitute
"forward-looking statements." Forward-looking statements include,
without limitation, any statement that may predict, forecast,
indicate, or imply future results, performance or achievements, and
may contain the words "estimate", "project", "intend", "forecast",
"anticipate", "plan", "planning", "expect", "believe", "will
likely", "should", "could", "would", "may" or words or expressions
of similar meaning. Such statements are not guarantees of future
performance and are subject to risks and uncertainties that could
cause the company's actual results and financial position to differ
materially from those included within the forward-looking
statements. Forward-looking statements involve risks and
uncertainties, including those relating to the Company's ability to
grow its business. Actual results may differ materially from the
results predicted and reported results should not be considered as
an indication of future performance. The potential risks and
uncertainties include, among others, the Company's limited
operating history, the limited financial resources, domestic or
global economic conditions -- activities of competitors and the
presence of new or additional competition and conditions of equity
markets.
SOURCE Groupe Athena, Inc.