Groupe Athena, Inc. Continues Record Revenue Growth With Strongest Quarter To Date
MUMBAI, India, Feb. 12, 2013 /PRNewswire/ -- Groupe Athena, Inc. (OTCPink: GATA) announced today record revenues of $14,810,936 for the period ending December 31, 2012, which represents a 23% increase over the same period in 2011. Net after tax income for the period was $1,549,882 or $.033 per share which was also the best for any quarter to date as profit margins continue to increase.
Revenue growth for the first half of this fiscal year is also on a record pace and has increased approximately 30% year on year. With the two recent strong quarters trailing twelve month (ttm) earnings have increased to just over $.11 per share.
Cash reserves are strong and long term debt remains virtually non-existent as the Company prepares to outfit it's recently purchased new testing facility. The company reports it is still committed to funding all capital expenditures entirely from internal cash accruals without any shareholder dilution or debt increases.
Company Chairman, D. Purohit stated, "We could not be happier with our financial position and the pharmaceutical business environment in general. Many of our regional customers are now renewing contracts going forward and our efforts to develop and expand our global footprint is progressing nicely."
As previously stated, the company plans to apply for listing on the NASDAQ Bulletin Board quotation system with the completion of the audit for this fiscal year ending June 30, 2013.
To review the complete quarterly report please go to www.otcmarkets.com/stock/GATA/quote and click on "Financials".
As was previously stated, 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 17 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.
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SOURCE Groupe Athena, Inc.