FSI Announces Top Line Revenue for Fourth Quarter, 2020

Rhea-AI Summary

Flexible Solutions International (FSI) reported significant growth in its Q4 2020 revenue, achieving $7.15 million compared to $4.79 million in Q4 2019, marking an increase of approximately 49% year-over-year. CEO Dan O'Brien attributed this success to the team's hard work during challenging pandemic conditions. Full financial results will be released after the market closes on March 31, 2021, followed by a conference call on April 1, 2021. FSI specializes in biodegradable polymers and water conservation technologies.

Positive

• Revenue increased by approximately 49% year-over-year from $4.79 million in Q4 2019 to $7.15 million in Q4 2020.

Negative

• None.

VICTORIA, BC / ACCESSWIRE / January 12, 2021 / 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), 2020.

Sales were higher in Q4, 2020 than in Q4, 2019. Flexible Solutions' top line revenue increased from $4.79million (Q4, 2019) to $7.15million (Q4, 2020), up approximately 49% year over year.

CEO, Dan O'Brien comments, "Fourth quarter and full year revenue are up significantly, a testament to the year of hard work by our entire team and accomplished under very tough conditions caused by the pandemic."

Complete financial results will be available after market close on March 31, 2021, 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, Thursday, April 1, 2021. See the FSI March 31, 2021 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

SOURCE: Flexible Solutions International, Inc.

View source version on accesswire.com:
https://www.accesswire.com/623987/FSI-Announces-Top-Line-Revenue-for-Fourth-Quarter-2020

FAQ

What was Flexible Solutions International's revenue for Q4 2020?

Flexible Solutions International reported revenue of $7.15 million for Q4 2020.

How much did FSI's revenue increase from Q4 2019 to Q4 2020?

FSI's revenue increased by approximately 49% from $4.79 million in Q4 2019 to $7.15 million in Q4 2020.

When will Flexible Solutions International announce its full financial results?

FSI will announce its full financial results on March 31, 2021, after market close.

When is the conference call for FSI's Q4 2020 financial results?

The conference call for FSI's Q4 2020 financial results is scheduled for April 1, 2021, at 8:00 am Pacific Time.