Groupe Athena, Inc. Reports Record First Quarter Revenues
MUMBAI, India, Oct. 10, 2011 /PRNewswire/ -- Groupe Athena, Inc. (Pink sheets GATA.PK) announced today record revenues of $12,211,400 for the first quarter ending September 30, 2011 which generated pretax earnings of $1,566,906, or $.033 per share which is also a record for the same period. With the most recent strong quarter, trailing twelve month (ttm) earnings jumped to nearly $.10 per share. The record quarterly revenue was significant in that it equaled nearly 50% of total revenue for all of the previous fiscal year.
The Company's Chairman, D. Purohit stated, "As our markets continue to expand within India and the region, we expect to see continued strong revenue and earnings growth, and with the recently reported asset additions which allow us to perform more services in-house, our margins are also increasing significantly. We are also very pleased to have a healthy backlog to build on which currently insures our growth well into fiscal 2013."
To review the complete quarterly report please go to www.otcmarkets.com/stock/GATA/quote and click on "Financials."
The company reports it is still committed to funding all capital expenditures entirely from internal cash accruals without any shareholder dilution or debt increases.
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 15 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
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Corporate Shareholder Relations, Inc.
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SOURCE Groupe Athena, Inc.