Business
UPDATE: Groupe Athena, Inc. Continues Pace for Record Fiscal Year With Strong Second Quarter Sales
UPDATE: Groupe Athena, Inc. Continues Pace for Record Fiscal Year With Strong Second Quarter Sales.
About this update from Ayujoy Herbals Ltd.
[{"type":"text","content":"\n \n \n UPDATE: Groupe Athena, Inc. Continues Pace for Record Fiscal Year With Strong Second Quarter Sales\n \n \nUPDATE: Groupe Athena, Inc. Continues Pace for Record Fiscal Year With Strong Second Quarter Sales\n \n MUMBAI, INDIA--(Marketwired - Mar 10, 2014) -  Groupe Athena, Inc. (OTC Pink: GATA) today posted their quarterly results for the three months ending December 31, 2013. The company reported revenues of $17,961,452 which is an increase of 21% when compared to the corresponding period in 2012 and represents the strongest 6 month earnings period in the company's history. Operating income for the quarter was also strong at $3, 097,791, an increase of over 26% from $2.45 million for the same period in 2012. \n Net income after taxes and depreciation for the period was $2,083,606 or $.044 per share. \n With regard the continued strong growth, the company's President, Ms. D Purohit, stated, \"I can't put into words how exciting it is to see our dreams become reality. Our core business is thriving and our expansion plans are proceeding as expected. We fully expect 2014 to be a breakout year for Groupe Athena, Inc.\"\n The company reiterates that the strong increase in operating income is due to the continued increases in gross margins and they anticipate further increases as more work is transitioned in-house. Operating margins are approaching 20% currently and management remains committed to attain 40% gross margins over the next few years.\n The company's order position also remains very healthy and management expects record total revenues of at least $65 million for the current fiscal year. \n Cash and cash equivalents are at record levels for the company and continue to grow and debt remains virtually non-existent. \n To review the complete quarterly report please go to www.otcmarkets.com/stock/GATA/quote and click on \"Financials.\"\n The Indian pharmaceutical industry is increasingly focusing on exports to the United States and Europe and GATA is well positioned to help them get their products approved by the respective governing bodies for sales in both regions. 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...