FSI Announces Top Line Revenue for Third Quarter, 2020

Rhea-AI Summary

Flexible Solutions International (NYSE-AMERICAN: FSI) reported a year-over-year revenue increase for Q3 2020, with sales rising from $7.40 million in Q3 2019 to $8.11 million, reflecting a 10% growth. CEO Dan O'Brien expressed satisfaction with the results and emphasized ongoing efforts to sustain momentum. Full financial results will be disclosed after market close on November 13, 2020, ahead of a conference call scheduled for November 16, 2020. The company's focus includes biodegradable polymers for various applications, enhancing its environmental technology portfolio.

Positive

• Q3 2020 revenue up 10% from Q3 2019, reaching $8.11 million
• Positive outlook from CEO regarding maintaining growth momentum

Negative

• None.

VICTORIA, BC / ACCESSWIRE / October 15, 2020 / 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 third quarter (Q3), 2020.

Sales were higher in Q3, 2020 than in Q3, 2019. Flexible Solutions' top line revenue increased from $7.40 million (Q3, 2019) to $8.11 million (Q3, 2020), up approximately 10% year over year.

CEO, Dan O'Brien states, "We are pleased with the results for the third quarter and are working hard to maintain the momentum for the rest of 2020."

Complete financial results will be available after market close on November 13, 2020, concurrent with the Company's SEC third quarter filings. A conference call will be scheduled for 8:00 am Pacific Time, 11:00 am Eastern Standard Time, Monday, November 16, 2020. See the FSI November 13, 2020 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/610697/FSI-Announces-Top-Line-Revenue-for-Third-Quarter-2020

FAQ

What was Flexible Solutions International's revenue for Q3 2020?

Flexible Solutions International reported revenue of $8.11 million for Q3 2020, up from $7.40 million in Q3 2019.

How much did revenue increase year-over-year for FSI in Q3 2020?

FSI experienced a year-over-year revenue increase of approximately 10% in Q3 2020.

When will Flexible Solutions International release its complete financial results for Q3 2020?

The complete financial results for Q3 2020 will be released after market close on November 13, 2020.

What is the significance of the revenue increase for FSI?

The revenue increase indicates positive business growth and reflects the company's successful strategies in the environmental technology sector.

When is the conference call for FSI's Q3 2020 results?

The conference call is scheduled for 8:00 am Pacific Time, 11:00 am Eastern Standard Time, on November 16, 2020.