Business
Groupe Athena, Inc. Reports Audited Financials, Announces Record Revenues & Profits
Groupe Athena, Inc. Reports Audited Financials, Announces Record Revenues & Profits.
About this update from Ayujoy Herbals Ltd.
[{"type":"text","content":"Groupe Athena, Inc. (Pink sheets GATA.PK) today announced record revenues of $44,571,386 for the recent fiscal year ended June 30, 2012, an increase of 78% over the previous year. After tax earnings increased 116% to a record $4,417,047 or $0.094 a share.The Company's Chairman, D. Purohit stated, \"Though we are pleased with these results, we will continue adding more equipment and concentrate on our marketing efforts to increase revenues. As a result of these efforts, we are confident of reporting record revenues in the current fiscal year too. As many critical drug patents expire for large U.S. manufacturers, our client base is bound to increase. This is an exciting time to be part of our dynamic revenue growth and we look forward to increasing our market share in the Indian pharmaceutical industry.\"Though the company added $4,656,442 in assets, it’s cash positionis extremely healthy with cash and short term assets of $ 3,286,141 as againstcurrent liabilities of $ 84,090. The company is proud of the fact that all equipment and other acquisitions have been made entirely from internally generated cash and it is the commitment of management that future additions to the asset base be accomplished without any further dilution or debt increases.The Company has no plans for shareholder dilution over the next 12-18 months.To read the complete quarterly report, please go to www.otcmarkets.com and enter the company's trading symbol\"GATA\"About Groupe Athena, Inc.Groupe Athena Inc. was incorporated in June 2008 and began operations on July 1 of that year. The company is aresearch and testing organization and helps various pharmaceutical and medicalproducts and devices companies in India and Southeast Asia toget regulatory approvals and facilitate exports of their products to the United States.The Company accomplishes this by assisting clients from concept throughdevelopment, providing consultation on regulatory requirements, filings andprocesses.The company has a research and marketing facility in India that currently employs 17 consultantsand marketing personnel and is working towards aggressively expanding itspresence in the Indian pharmaceutical industry. The Company's web address is www.groupeathena.comSafe Har...