Groupe Athena, Inc. Posts Strong 3rd Quarter Results in Line With Record Annual Pace
April 21 2014 - 4:30PM
Marketwired
Groupe Athena, Inc. Posts Strong 3rd Quarter Results in Line With
Record Annual Pace
MUMBAI, INDIA--(Marketwired - Apr 21, 2014) - Groupe Athena,
Inc. (OTC Pink: GATA) (PINKSHEETS: GATA) announced
today revenues of $14,471,625 for the period ending March 31,
2014, an increase of $1,093,173 over the same period in
2013. Gross earnings before depreciation, amortization and
taxes were $2,384,395 and net income was $1,438,956 or $.031 per
share.
Total revenues for the 9 month
period this fiscal year were $51,195,666 which is well on pace to
meet or exceed the previously announced 12 month guidance. Net
earnings for the same period were $5,132,140, just shy of .11 per
share.
Cash reserves in the form of
short term investments and deposits are extremely healthy and the
Company's backlog of orders is larger than ever and growing while
long term debt remains virtually non-existent.
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 exporter companies 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.
The company also continues to
negotiate with several Indian drug companies for the manufacture of
generic pharmaceuticals that the company intends to market in
the United Kingdom under the anticipated license they are
in the process of applying for.
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 employs
19 consultants and is working towards aggressively expanding
its presence in the Indian pharmaceutical industry. The Company's
web address is www.groupeathena.com.
To review the complete
quarterly report please go
to www.otcmarkets.com/stock/GATA/quote and click on
"Financials."
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.
For more information contact: Paul Cornell
Cornellpaul6@gmail.com