FSI Announces Top Line Revenue for Fourth Quarter, 2021

Rhea-AI Summary

Flexible Solutions International (FSI) reported a 23% year-over-year revenue increase for Q4 2021, with sales rising from $7.16 million in Q4 2020 to $8.82 million. CEO Dan O’Brien highlighted challenges such as material shortages and shipping issues but noted strong performance under these conditions. Full financial results will be released post-market on March 31, 2022, followed by a conference call on April 1, 2022.

Positive

• 23% year-over-year revenue growth in Q4 2021.
• Increased sales from $7.16 million (Q4 2020) to $8.82 million (Q4 2021).
• Strong performance despite material shortages and shipping challenges.

Negative

• None.

VICTORIA, BRITISH COLUMBIA, Jan. 13, 2022 (GLOBE NEWSWIRE) -- FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE-AMERICAN: FSI, FRANKFURT: FXT), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also manufactures biodegradable and environmentally safe water and energy conservation technologies. Today the Company announces a year over year Increase in revenues for fourth quarter (Q4), 2021.

Sales were higher in Q4, 2021 than in Q4, 2020. Flexible Solutions’ top line revenue increased from $7.16million (Q4, 2020) to $8.82million (Q4, 2021), up approximately 23% year over year.

CEO, Dan O’Brien comments, “Fourth quarter and full year revenue are up again. This year Flexible Solutions had to contend with material shortages and shipping problems as well as covid. We had a very good year considering the headwinds.”

Complete financial results will be available after market close on March 31, 2022, concurrent with the Company’s SEC fourth quarter filings. A conference call will be scheduled for 8:00 am Pacific Time, 11:00 am Eastern Standard Time, Friday, April 1, 2022. See the FSI March 31, 2022 financials news release for the dial in numbers.

About Flexible Solutions International
Flexible Solutions International, Inc. (www.flexiblesolutions.com), based in Taber, Alberta, is an environmental technology company. The Company’s NanoChem Solutions Inc. subsidiary specializes in biodegradable, water-soluble products utilizing thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are manufactured from the common biological amino acid, L-aspartic and have wide usage including scale inhibitors, detergent ingredients, water treatment and crop enhancement. Along with TPA, this division produces other crop enhancement products. Other divisions manufacture energy and water conservation products for drinking water, agriculture, industrial markets and swimming pools throughout the world. FSI is the developer and manufacturer of WaterSavr^TM, the world’s first commercially viable water evaporation retardant. WaterSavr^TM reduces evaporation by up to 30% on reservoirs, lakes, aqueducts, irrigation canals, ponds and slow moving rivers. Heatsavr^TM, a “liquid blanket” evaporation retardant for the commercial swimming pool and spa markets, reduces energy costs by 15% to 40% and can result in reduced indoor pool humidity.

Safe Harbor Provision
The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward looking statement with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.

Flexible Solutions International
6001 54^th Ave, Taber, Alberta, CANADA T1G 1X4

Company Contacts
Jason Bloom
Toll Free: 800.661.3560
Fax: 403 223 2905
Email: info@flexiblesolutions.com

If you have received this news release by mistake or if you would like to be removed from our update list please reply to: info@flexiblesolutions.com

To find out more information about Flexible Solutions and our products please visit www.flexiblesolutions.com

FAQ

What were Flexible Solutions International's Q4 2021 revenues?

FSI reported revenues of $8.82 million for Q4 2021, a 23% increase compared to $7.16 million in Q4 2020.

When will Flexible Solutions International release its full financial results?

The full financial results will be available after market close on March 31, 2022.

What challenges did Flexible Solutions International face in 2021?

The company faced material shortages and shipping problems during 2021.

When is the conference call for Flexible Solutions International's Q4 results?

The conference call is scheduled for April 1, 2022, at 8:00 am Pacific Time.