Rouchon Industries Inc., dba Swiftech® (OTC Pink Current: RCHN) announces record revenues and profits for the third quar...
November 15 2012 - 8:00AM
OTC Markets
Rouchon Industries, Inc. dba Swiftech® (OTC Pink Current: RCHN),
today reported its interim financial reports for the 3rd quarter
ended September 30th, 2012. The Company specializes in
manufacturing advanced air, liquid, and thermoelectric cooling
devices for the IT industry, and provides thermal management
solutions for consumers, OEM’s and industrial customers.
The complete report is available online at
http://www.otcmarkets.com/stock/RCHN/filings
Key financial highlights
Year over year:
- Revenues increased 19% to $2.5 Million fueled by a 115%
increase in industrial sales;
- Gross Profits rose 37% to $1.1 Million reflecting a 15%
increase in gross profit margins;
- Operating Expenses rose 13% to $841k as a result of
workforce augmentation; and
- Net Profits before provisions for income tax rose 626% to
a net income of $219k
Gabriel Rouchon, Swiftech’s Chairman and CEO,
stated, "Our entire organization continues to deliver on the
company's goals and producing results that are in line with earlier
expectations. Industrial Sales remain on course with the bulk of
the shipments taking place during this 4th quarter. In
the Retail sector, new products released during the 2nd
quarter received excellent press with two Editor’s Choice Awards
thus far; this helped fuel the notable 36% increase in export sales
resulting from our European partners renewed efforts. With recently
appointed Robert Chan at its head, our new Asia Sales division is
now complete, and tangible results are expected to start
materializing in the first quarter of 2013. The most exciting news
is on the manufacturing side of things with the official launch of
our new DC motor manufacturing operations. This new capability
gives us a degree of freedom and competitiveness that couldn’t be
achieved until now, particularly in the high-volume sector of our
business where major OEM agreements are in progress for a new
product line to be announced before year-end."
Safe Harbor
This release contains certain "forward-looking
statements" relating to the business of the Company. All
statements, other than statements of historical fact included
herein are "forward-looking statements". Such statements are often
identified by the use of forward-looking terminology such as
"believes," "expects" or similar expressions and involve known and
unknown risks and uncertainties. Although the Company believes that
the expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks, and uncertainties,
and these expectations may prove to be incorrect. Investors should
not place undue reliance on these forward-looking statements, which
speak only as of the date of this news release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the OTC Markets and available
online
at http://www.otcmarkets.com/stock/RCHN/filings. All forward-looking statements attributable to the
Company or persons acting on its behalf are expressly qualified in
their entirety by these factors. Other than as required under the
securities laws, the Company does not assume any duty to update
these forward-looking statements.
Contact:
Investor Relations
info@swiftech.com
Source: Rouchon Industries, Inc., dba Swiftech®
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