Falken Reports Third Quarter Results
14 November 2012 - 4:42AM
Marketwired
Falken Industries Ltd (OTCBB:FLKI) -
FLKI today announced financial results for its 2012 Third
quarter ended September 30, 2012. The Company consistent with
projections continued its global market share expansion enhancing
its product conceptions in Scandinavia and opening further
distribution in former East Block satellite countries. FLKI has
been particularly active in developing these markets. Net operating
revenues after currency adjustments to the dollar were up 50% from
the year-ago quarter and net operating margins increased 45%. "The
company has been particularly keen on production efficiencies and
expanding margins are the result," says Manuel Garcia,
Communications Officer. "We expect continued progress in
procurement, hedging, and production efficiencies throughout the
year," he added.
During the quarter FLKI authorized further product support for
its distribution platforms and additional marketing and sales
support for its distributor network in developing markets. Emphasis
continues to be focused on exploiting the opportunities created by
the weak economy, and on reinforcing market segmentation coverage
and penetration in existing ones. "Because of our strong
penetration of the female market we enjoy a substantial advantage
over our competitors," said Garcia. At the start of the economic
crisis FLKI had elected to concentrate on extensive support of its
existing distribution network and platforms. "We expect a
substantial improvement in overall sales and profits in 2012 and a
major breakthrough in 2013 with the probability of an acquisition,"
emphasized Garcia.
"The new products we are planning to release through the Spring
2013 are very strong, and we're really excited about them," added
Garcia.
Speaking of the common stock's disappointing performance, Garcia
added: "If you consider the company in all its components, two of
its hidden values are brand trust and recognition and a global
distribution network, notably in Europe, which is likely worth $35
to 40 million to any US company seeking instant expansion of its
distribution abroad. These, other core values and its operating
performance, have not been considered by investors, and are not
reflected in the company's share price," said Garcia.
The company whose major revenues remain embedded in the Euro has
become a "Euro Play" depressing its current stock quotation to a
fraction of the company's book value of about 11 cents. "The
company's depressed stock is a rare opportunity for investors,"
says Garcia.
About Falken Industries Ltd:
Falken Industries Ltd (OTCBB:FLKI) is a diversified industrial
conglomerate that operates in Chemicals, Wet Wipe and Biodegradable
Technology. Falken Industries Ltd is the concept behind more than
160 products distributed through a network of global platforms and
the recipient of trade awards for innovations, biodegradability and
environmental and health quality standards.
SAFE HARBOR STATEMENT: This news release contains
"forward-looking statements" made pursuant to the safe harbor
provisions of the 1995 Private Securities Litigation Reform Act.
"Forward-looking statements" describe future expectations, plans,
results, or strategies and are generally preceded by words such as
"future," "plan" or "planned," "will" or "should," "expected,"
"anticipates," "draft," "eventually" or "projected." Such
statements are subject to risks and uncertainties that could cause
future circumstances, events, or results to differ materially from
those projected in the forward-looking statements, including the
risks that our products may not achieve customer acceptance or
perform as intended, that we may be unable to obtain necessary
financing to continue operations and development, and other risks.
You should consider these factors in evaluating the forward-looking
statements included herein, and not place undue reliance on such
statements.
Contacts: Falken Industries Ltd Manuel Garcia Communications
Officer +1609 357 0316mgarciafaure@falkenltd.com
Falken Industries (CE) (USOTC:FLKI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Falken Industries (CE) (USOTC:FLKI)
Historical Stock Chart
From Jul 2023 to Jul 2024