Rouchon Industries, Inc., dba Swiftech(R) (OTC Pink Current: RCHN) Announces Record Revenues and Profits for the Third Quarte...
15 Novembre 2012 - 2:00PM
Marketwired
Rouchon Industries, Inc., dba Swiftech® (PINKSHEETS: RCHN), today
reported its interim financial reports for the 3rd quarter ended
September 30th, 2012. The Company specializes in manufacturing
advanced air, liquid, and thermoelectric cooling devices for the IT
industry, and provides thermal management solutions for consumers,
OEMs and industrial customers.
The complete report is available online at
http://www.otcmarkets.com/stock/RCHN/filings
Key financial highlights
Year over year:
- Revenues increased 19% to $2.5 Million fueled by a 115%
increase in industrial sales;
- Gross Profits rose 37% to $1.1 Million reflecting a 15%
increase in gross profit margins;
- Operating Expenses rose 13% to $841k as a result of workforce
augmentation; and
- Net Profits before provisions for income tax rose 626% to a net
income of $219k
Gabriel Rouchon, Swiftech's Chairman and CEO, stated, "Our
entire organization continues to deliver on the company's goals and
producing results that are in line with earlier expectations.
Industrial Sales remain on course with the bulk of the shipments
taking place during this 4th quarter. In the Retail sector, new
products released during the 2nd quarter received excellent press
with two Editor's Choice Awards thus far; this helped fuel the
notable 36% increase in export sales resulting from our European
partners renewed efforts. With recently appointed Robert Chan at
its head, our new Asia Sales division is now complete, and tangible
results are expected to start materializing in the first quarter of
2013. The most exciting news is on the manufacturing side of things
with the official launch of our new DC motor manufacturing
operations. This new capability gives us a degree of freedom and
competitiveness that couldn't be achieved until now, particularly
in the high-volume sector of our business where major OEM
agreements are in progress for a new product line to be announced
before year-end."
Safe Harbor This release contains certain "forward-looking
statements" relating to the business of the Company. All
statements, other than statements of historical fact included
herein are "forward-looking statements". Such statements are often
identified by the use of forward-looking terminology such as
"believes," "expects" or similar expressions and involve known and
unknown risks and uncertainties. Although the Company believes that
the expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks, and uncertainties,
and these expectations may prove to be incorrect. Investors should
not place undue reliance on these forward-looking statements, which
speak only as of the date of this news release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the OTC Markets and available online at
http://www.otcmarkets.com/stock/RCHN/filings. All forward-looking
statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by these factors.
Other than as required under the securities laws, the Company does
not assume any duty to update these forward-looking statements.
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Contact: Rouchon Industries, Inc., dba Swiftech® Investor
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