Falken Reports Record Second Quarter 2012 Results
06 Agosto 2012 - 3:09PM
Marketwired
Falken Industries Ltd (OTCBB:FLKI) -
FLKI today announced financial results for its 2012 Second
Quarter ended June 30, 2012. The Company, consistent with
projections continued its global market share expansion enhancing
its product conceptions in Scandinavia and opening Super
Distribution facilities in Turkey. FLKI has been particularly
active in developing these markets. Net operating revenues even
after unfavorable net currency adjustments to the strong dollar
were up 34% from the year-ago quarter and net operating margins
increased 17% to 45.53%. Profits (PPS) were a solid 2 cents per
share on an annualized basis. "The company has been particularly
keen on production efficiencies and expanding margins are the
result" says Manuel Garcia, Communications Officer. "We expect
continued progress in procurement, hedging, and production
efficiencies throughout the year leading to higher revenue and
profit, and this, notwithstanding the strong dollar." added
Garcia.
During the quarter FLKI further authorized expansion in the
number of its distribution platforms and funding for additional
marketing and sales support for its distributor network in
developing markets. Emphasis is focused on continuing to exploit
the opportunities created by the weak economy, and on reinforcing
market segmentation coverage and penetration in existing ones.
"Because of our strong penetration of the female market we enjoy a
substantial advantage in consumer products over our competitors"
said Garcia. At the start of the economic crisis FLKI had elected
to concentrate on extensive support of its existing distribution
network and platforms. "We expect a substantial improvement in
overall sales and profits, notably in professional and industrial
products for the balance of the year, and a major breakthrough in
2013," emphasized Garcia.
The Company's revenues are Euro denominated, exposing it to
negative consequences when converted to the recently stronger US
dollar for reporting purposes. This has unjustifiably spooked
investors. As a result the stock is trading at $ 0.0268 on clearly
exaggerated fears of the impact of revenues subjected to conversion
to a stronger US dollar for GAAP accounting. The company's core
values and strong fundamentals are being indefensibly ignored and
are consequently not reflected in the company's share price which
trades at less than 30% of book value.
"The new products we are planning to release this year and
through the Spring of 2013 are very strong, and we're really
excited about them" said Garcia.
About Falken Industries Ltd :
Falken Industries Ltd (OTCBB:FLKI) is a diversified industrial
conglomerate that operates in Chemicals, Wet Wipe and Biodegradable
Technology. Falken Industries Ltd is the concept behind more than
160 products distributed through a network of global platforms and
the recipient of trade awards for innovations, biodegradability and
environmental and health quality standards.
SAFE HARBOR STATEMENT: This news release contains
"forward-looking statements" made pursuant to the safe harbor
provisions of the 1995 Private Securities Litigation Reform Act.
"Forward-looking statements" describe future expectations, plans,
results, or strategies and are generally preceded by words such as
"future," "plan" or "planned," "will" or "should," "expected,"
"anticipates," "draft," "eventually" or "projected." Such
statements are subject to risks and uncertainties that could cause
future circumstances, events, or results to differ materially from
those projected in the forward-looking statements, including the
risks that our products may not achieve customer acceptance or
perform as intended, that we may be unable to obtain necessary
financing to continue operations and development, and other risks.
You should consider these factors in evaluating the forward-looking
statements included herein, and not place undue reliance on such
statements.
Contacts: Falken Industries Ltd Manuel Garcia Communications
Officer +1609 357 0316mgarciafaure@falkenltd.com
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