Rouchon Industries Inc., dba Swiftech(R) (OTC Pink Current: RCHN) Announces Record Revenues and Profits for the Second Quarte...
10 August 2012 - 1:15PM
Marketwired
Rouchon Industries, Inc. dba Swiftech® (PINKSHEETS: RCHN), today
reported its interim financial reports for the 2nd quarter ended
June 30, 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.
The complete report is available online at
http://www.otcmarkets.com/stock/RCHN/filings
Key financial highlights
Year over year:
- Revenues increased 39% to $1.7 Million fueled by a 300%
increase in industrial sales;
- Gross Profits rose 60% to $673k reflecting a 15% increase in
gross profit margins;
- Operating Expenses rose 7% to $521k as a result of workforce
augmentation; and
- Net Profits rose 330% to a net income of $152k
Gabriel Rouchon, Swiftech's Chairman and CEO, stated, "Our
entire organization is delivering on the company's goals and
producing results that are exceeding expectations. In addition to a
portfolio of existing purchase orders spanning deliveries until the
end of 2012, and an unprecedented number of new products released
in the past 6 months, we also have several major product
development projects on the verge of completion that we plan on
unveiling well before year end. We do expect these new product
lines to further reinforce Swiftech's position as a leading
solution provider in the industry, and thus anticipate even
stronger results in the next two quarters and beyond. We continue
to see a sustained demand across all major product lines, and the
ramp up of our China division to begin sales in the China market is
expected to further add to the bottom line. I would like to take
this opportunity to thank our loyal and talented employees for
their hard work, as well as our shareholders for their trust and
unwavering support."
Safe Harbor This 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 similar expressions and involve known and
unknown risks and uncertainties. Although the Company believes that
the expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks, and uncertainties,
and these expectations may prove to be incorrect. Investors should
not place undue reliance on these forward-looking statements, which
speak only as of the date of this news release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the OTC Markets and available online
here: http://www.otcmarkets.com/stock/RCHN/financials. All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume any duty to update these
forward-looking statements.
Contact: Rouchon Industries, Inc., dba Swiftech® Investor
Relations Email Contact
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