Business
Rouchon Industries Inc., dba Swiftech® (OTC Pink Current: RCHN) announces record revenues and profits for the third quarter ending September 30th, 2012.
Rouchon Industries Inc., dba Swiftech® (OTC Pink Current: RCHN) announces record revenues and profits for the third quarter ending September 30th, 2012..
About this update from Rouchon Industries, Inc.
[{"type":"text","content":"Rouchon Industries, Inc. dba Swiftech® (OTC Pink Current: 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, OEM’s and industrial customers.\n The complete report is available online at http://www.otcmarkets.com/stock/RCHN/filings\n \nKey financial highlights\n \nYear over year:\n \n\nRevenues increased 19% to $2.5 Million fueled by a 115% increase in industrial sales; \nGross Profits rose 37% to $1.1 Million reflecting a 15% increase in gross profit margins; \nOperating Expenses rose 13% to $841k as a result of workforce augmentation; and \nNet Profits before provisions for income tax rose 626% to a net income of $219k\n\n \nGabriel 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.\"\nSafe Harbor \nThis 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 ...