VICTORIA, BRITISH COLUMBIA, April 13, 2023 (GLOBE NEWSWIRE) — FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE- AMERICAN: FSI), 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 top-line revenue for the first quarter (Q1), of 2023.
Sales were lower in Q1, 2023 compared to Q1, 2022. Flexible Solutions’ top-line revenue decreased from $10.783 million (Q1, 2022) to $9.883 million (Q1, 2023), down approximately 8% year over year
Mr. Dan O’Brien, CEO, comments, “Sales into agriculture markets were not as strong as last year, possibly due to weather and more just in time ordering by distribution compared to other years. We expect agricultural sales to resume growth in Q2.”
Complete financial results will be available on Monday, May 15, 2023, concurrent with the Company’s SEC first-quarter filings. A conference call will be scheduled for 8:00 am Pacific Time, 11:00 am Eastern Standard Time, the following business day, Tuesday, May 16, 2023. See the FSI May 15, 2023 financials news release for the dial-in numbers.
About Flexible Solutions International
Flexible Solutions International, Inc. (www.flexiblesolutions.com), based in Victoria, British Columbia, 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 started producing other crop enhancement products as well. The 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 WaterSavrTM, the world’s first commercially viable water evaporation retardant. WaterSavrTM reduces evaporation by up to 30% on reservoirs, lakes, aqueducts, irrigation canals, ponds, and slow-moving rivers. HeatsavrTM, a “liquid blanket” evaporation retardant for 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 statements 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 54th Ave, Taber, Alberta, CANADA T1G 1X4
Email: [email protected]
To find out more information about Flexible Solutions and our products please visit www.flexiblesolutions.com
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