Groupe Athena, Inc. Clarifies Previous Guidance, Addresses U.S. Drug Shortage
MUMBAI, India, March 2, 2012 /PRNewswire/ -- Groupe Athena, Inc. (Pink sheets GATA.PK)
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. (Pink sheets GATA.PK) has previously announced they have approximately $60 million in customer orders that they are processing and they expect to be able to convert at least two thirds or approximately $40 million into revenue for the current fiscal year. The company is extremely pleased to issue this guidance update and announce that due to several factors including additional order flow and the recent equipment acquisitions, revenue should increase at least 10% or a minimum of $4 million. Earnings are also expected to increase similarly.
The company also announced they are in talks with several regional drug manufacturers as part of an effort to help alleviate the recently announced severe, potentially life threatening shortage of vital cancer drugs in the United States including methatrexate, one of the most widely used. The company expects developments in the near term and has committed to make every effort to "fast track" any trials or regulatory filings necessary.
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 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.