Evergreen December 2009 Revenues 14% Higher Than Previous Estimate With EBITDA of $725,000
CHANNELVIEW, Texas, Feb. 2 /PRNewswire-FirstCall/ -- Exousia Advanced Materials, Inc. (OTC Bulletin Board: EXOU) - www.exousiacorp.com, a company that manufactures advanced eco-friendly industrial products for worldwide infrastructure applications today announced that December revenues for Evergreen Global Investments Ltd. exceeded previous estimates.
In the announcement on January 13, 2010 of Exousia's acquisition of New York City-based Evergreen Global Investments Ltd., the company estimated that revenue of Evergreen entities in December would be approximately $5,000,000. Based on a preliminary review of December's results, Evergreen expects revenue for the month of approximately $5,700,000 and EBITDA of $725,000.
J. Wayne Rodrigue, Chairman of the Board of Exousia noted, "We are encouraged by these results which should enable us to pay down certain obligations of the company. With these results, the company will be seeking the needed commercially reasonable financing to achieve our goals. We anticipate January sales to be consistent with those of December and will provide updates to the market as appropriate."
About Exousia Advanced Materials, Inc.
Exousia, through its subsidiary Evergreen, is the provider of a variety of fuel products to thousands of customers in the Northeastern part of the United States. It is rapidly migrating its entire product base to include Green Energy attributes. Exousia manufactures advanced eco-friendly resins, engineered particles, high-performance coatings and structural products. Exousia products enhance strength, durability, cost effectiveness and performance for a wide range of manufacturing, commercial and construction applications. The company serves both domestic and international markets. Additional information on Exousia can be found at http://www.exousiacorp.com.
Safe Harbor Statement
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. We use words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "goal," "intend," "may," "plan," "project," "seek," "should," "target," "will," "would," variations of such words and similar expressions to identify forward-looking statements. In addition, forward-looking statements include, among others, statements that refer to Evergreen's expected contributions to Exousia's earnings, profits and EPS; projections of earnings, revenue, costs or other financial items of Exousia, Evergreen and the combined company; the anticipated value of the combined business to customers and partners; the expected performance of Evergreen service, along with anticipated growth and trends in the business or key markets of Exousia, Evergreen, and the combined company; and plans, objectives and strategies for future operations. Readers are cautioned that actual results could differ materially from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: the ability of Exousia to successfully integrate Evergreen operations and employees; the ability to realize anticipated benefits of the proposed acquisition, including the expectation of greater revenue opportunities, operating efficiencies and cost savings; the ability to ensure continued performance and market growth of Evergreen's business; continued turmoil in global financial markets and economies; the availability and cost of credit; the ability to successfully develop, introduce, and sell new products and enhancements; changes in relationships with key customers, suppliers, distributors, resellers, and others as a result of the acquisition; and other factors affecting the industrial coatings and energy industries generally. In addition, please refer to the risk factors contained in Exousia's SEC filings available at www.sec.gov, including Exousia's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. The companies undertake no obligation to update or revise any forward-looking statements for any reason.
SOURCE Exousia Advanced Materials, Inc.
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