Business
GROUPE ATHENA, INC. RELEASES YEAR END FINANCIALS, CONTINUES RECORD REVENUE AND EARNINGS GROWTH
GROUPE ATHENA, INC. RELEASES YEAR END FINANCIALS, CONTINUES RECORD REVENUE AND EARNINGS GROWTH.
About this update from Ayujoy Herbals Ltd.
[{"type":"text","content":"Mumbai, India. August4, 2013. Groupe Athena, Inc. (Pink sheets GATA.PK) is very excited to post the results for their fiscal year ending June 30, 2013. Annual revenue for the period was $56,457,443 which is an increase of more than 26% over the previous fiscal year and represents another new benchmark for the company. EBITDA for the year was also strong at $8,956,726 and net after tax income for the period was $5,440,694 or $.12 per share.Current assets have risen to $10,287,188 as of June 30 andconsist of primarily cash and short term investments. The company does expectto use a portion of their retained earnings to begin the outfitting of theirrecently purchased new testing facility, and to pursue other anticipated growthinvestments to be announced. Company Chairman, D. Purohit stated, \"This is a very exciting time for Groupe Athena, Inc. as we transition from a start-up company to an established regional pharmaceutical force. As we develop new global and regional relationships, and as dynamics within our industry evolve, we are seeing many exciting opportunities unfold that we hope to capitalize on in the near term\". As previously stated, the company plans to apply for listing on the NASDAQ Bulletin Board quotation system and hopes to have all relevant SEC filings submitted and subsequent SEC approval by the fiscal year end. To review the complete quarterly report please go to www.otcmarkets.com/stock/GATA/quote and click on \"Financials\" 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 regulat...