Groupe Athena, Inc. Announces Record Six Month Revenue
MUMBAI, India, Feb. 28, 2012 /PRNewswire/ -- Groupe Athena, Inc. (Pink sheets GATA.PK) announced today it has reported revenues of $11,968,232 for the recent fiscal quarter ended December 31, 2011, which combined with the 1st quarter of this fiscal year established record 6 months revenue and earnings. Total revenues for the 6 month period were $24,179,632 which exceeded any period of the same length in the company's history and nearly equaled the total revenues for the entire 2011 fiscal year. After tax earnings also increased for the same period to $2,529,725 or $.054 per share.
The Company's Chairman, D. Purohit stated, "India's pharmaceutical industry is experiencing unprecedented growth and Groupe Athena, Inc. is uniquely poised to capitalize. As many critical drug patents expire for large U.S. manufacturers, it opens many doors for us here. This is an exciting time to be part of our dynamic revenue growth and we look forward to further similar increases as we continue to gain market share and increase our participation in the explosive growth of our core industry."
The Company's debt to equity ratio also remains extremely healthy at over 40 to 1 with cash and short term assets of $3,530,864 and total assets of $8,650,722 as of December 31 and only $114,232 of current liabilities and $0 long term debt on the books. The company is proud of the fact that all equipment and other acquisitions have been made entirely from internally generated cash and it is the commitment of management that future additions to the asset base be accomplished without any further dilution or debt increases. The Company has no plans for shareholder dilution over the near term.
To read the complete quarterly report, please go to www.otcmarkets.com and enter the company's trading symbol "GATA"
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 16 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:
Corporate Shareholder Relations, Inc.
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.
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