Falken Reports Second Quarter Results
August 19 2010 - 4:02AM
Marketwired
FLKI (OTCBB: FLKI) today announced financial results for its 2010
Second quarter ended June 30, 2010. The Company consistent with
projections continued its global market share expansion enhancing
its product conceptions in Scandinavia and opening distribution in
Moldova a former East Block satellite. FLKI has been particularly
active in developing these markets. Net operating revenues before
currency adjustments to the dollar were up 11% from the year-ago
quarter and net operating margins increased 21.5%. "The company has
been particularly keen on production efficiencies and expanding
margins are the result" says Manuel Garcia, Communications Officer.
"We expect continued progress in procurement, hedging, and
production efficiencies throughout the year" added Helle Madso,
President.
During the quarter FLKI authorized a renewed expansion of its
distribution platforms and additional marketing and sales support
for its distributor network in developing markets. Emphasis will be
focused on exploiting the opportunities created by the weak
economy, and on reinforcing market segmentation coverage and
penetration in existing ones. "Because of our strong penetration of
the female market we enjoy a substantial advantage over our
competitors" said Garcia. At the start of the economic crisis FLKI
had elected to concentrate on extensive support of its existing
distribution network and platforms. "We expect a substantial
improvement in overall sales and profits in 2010 and a major
breakthrough in 2011" emphasized Garcia.
"If you consider the company in all its components, two of its
hidden values are brand trust and recognition and a global
distribution network, notably in Europe, which is likely worth $ 35
to 40 million to any US company seeking instant expansion of its
distribution abroad. These and other core values are not reflected
in the company's share price" said Garcia, who was recently
appointed to head the new IR cell whose role is to facilitate
interface with the IR community.
"The new products we are planning to release this year and
through the Spring 2011are very strong, and we're really excited
about them" added Madso.
About Falken Industries Ltd:
Falken Industries Ltd (OTCBB: FLKI) is a diversified industrial
conglomerate that operates in Chemicals, Wet Wipe and Biodegradable
Technology. Falken Industries Ltd is the concept behind more than
160 products distributed through a network of global platforms and
the recipient of trade awards for innovations, biodegradability and
environmental and health quality standards.
SAFE HARBOR STATEMENT: This news release contains
"forward-looking statements" made pursuant to the safe harbor
provisions of the 1995 Private Securities Litigation Reform Act.
"Forward-looking statements" describe future expectations, plans,
results, or strategies and are generally preceded by words such as
"future," "plan" or "planned," "will" or "should," "expected,"
"anticipates," "draft," "eventually" or "projected." Such
statements are subject to risks and uncertainties that could cause
future circumstances, events, or results to differ materially from
those projected in the forward-looking statements, including the
risks that our products may not achieve customer acceptance or
perform as intended, that we may be unable to obtain necessary
financing to continue operations and development, and other risks.
You should consider these factors in evaluating the forward-looking
statements included herein, and not place undue reliance on such
statements.
Contacts: Falken Industries Ltd Manuel Garcia Communications
Officer +1609 357 0316 mgarciafaure@falkenltd.com
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