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FSI Announces First Quarter, 2021 Revenue

By: Flexible Solutions International, Inc. via AccessWire

April 20, 2021 at 16:30 PM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

VICTORIA, BC / ACCESSWIRE / April 20, 2021 / FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE American:FSI)(FRANKFURT:FXT), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also manufactures biodegradable and environmentally safe water and energy conservation technologies. Today the Company announces a year over year decrease in revenues for first quarter (Q1), 2021.

Sales were lower in Q1, 2021 compared to Q1, 2020. Flexible Solutions' top line revenue decreased from $8.429 million (Q1, 2020) to $7.623million (Q1, 2021), down approximately 10% year over year.

Dan O'Brien, CEO, states, "Shipping constraints, both inbound and outbound shifted revenue out of Q1 and into Q2." Mr. O'Brien continues, "While we can't control in which quarter orders and shipments will land, we continue to expect growth for the full year of 2021".

Complete financial results will be available on May 14,2021 concurrent with the Company's SEC quarterly filings. A conference call will be scheduled for 8:00 am Pacific Time, 11:00 am Eastern Standard Time, the following business day, Monday, May 17. See the FSI May 14, 2021 financials news release for the dial in numbers.

About Flexible Solutions International

Flexible Solutions International, Inc. (www.flexiblesolutions.com), based in Victoria, British Columbia, is an environmental technology company. The Company's NanoChem Solutions Inc. subsidiary specializes in biodegradable, water-soluble products utilizing thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are manufactured from the common biological amino acid, L-aspartic and have wide usage including scale inhibitors, detergent ingredients, water treatment and crop enhancement. Along with TPA, this division started producing other crop enhancement products as well. The other divisions manufacture energy and water conservation products for drinking water, agriculture, industrial markets and swimming pools throughout the world. FSI is the developer and manufacturer of WaterSavr^TM, the world's first commercially viable water evaporation retardant. WaterSavr^TM reduces evaporation by up to 30% on reservoirs, lakes, aqueducts, irrigation canals, ponds and slow moving rivers. Heatsavr^TM, a "liquid blanket" evaporation retardant for the commercial swimming pool and spa markets, reduces energy costs by 15% to 40% and can result in reduced indoor pool humidity.

Safe Harbor Provision

The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward looking statement with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.

Flexible Solutions International
6001 54^th Ave, Taber, Alberta, CANADA T1G 1X4

Company Contacts

Jason Bloom
Toll Free: 800.661.3560
Fax: 250.477.9912
Email: info@flexiblesolutions.com

If you have received this news release by mistake or if you would like to be removed from our update list please reply to: info@flexiblesolutions.com

To find out more information about Flexible Solutions and our products please visit www.flexiblesolutions.com

SOURCE: Flexible Solutions International, Inc.

View source version on accesswire.com:
https://www.accesswire.com/641364/FSI-Announces-First-Quarter-2021-Revenue

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