VICTORIA, BC -- (MARKET WIRE) -- 04/08/08 -- Flexible Solutions International, Inc. (AMEX: FSI) (FRANKFURT: FXT) is the developer and manufacturer of biodegradableand environmentally safe water and energy conservation technologies, aswell as anti-scalant technology. Today the Company announces significantyear over year increase in revenues for First Quarter (Q1) 2008.Sales into most divisions were strong and more specifically the NanoChemDivision sales into agriculture, oil extraction and detergent industrieswere stronger than expected in Q1. As a result, Flexible Solutions' topline revenue was up more than 50% year over year when compared to Q1, 2007.Top line revenue increased from $2.3million (Q1, '07) to 3.5million (Q1,'08). Note also that Q1, '08 revenue is the largest quarterly revenue theCompany has reported to date.
As reported in previous news releases, Flexible Solutions Managementindicated that any slow down in revenue growth in 2007 would likely betemporary. It is anticipated that revenue growth for 2008 may track higherthan analyst expectations. First Quarter financials will be available bymid-May when the Company's auditors have completed their review.
About Flexible Solutions International
Flexible Solutions International, Inc. (www.flexiblesolutions.com), basedin Victoria, British Columbia, is an environmental technology companyspecializing in 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, the world's firstcommercially viable water evaporation retardant. WaterSavr reducesevaporation by up to 30% on reservoirs, lakes, aqueducts, irrigationcanals, ponds and slow moving rivers. Heatsavr, a "liquid blanket"evaporation retardant for the commercial swimming pool and spa markets,reduces energy costs by 15% to 40% and, further results in reduced indoorhumidity. The Company's Ecosavr product targets the residential swimmingpool market. The Company's Nanochem Solutions, Inc. subsidiary specializesin environmentally friendly, green chemistry, water-soluble productsutilizing thermal polyaspartate (TPA) biopolymers. TPA beta-proteins aremanufactured from the common biological amino acid, L-aspartic acid.
Safe Harbor Provision
The Private Securities Litigation Reform Act of 1995 provides a "SafeHarbor" for forward-looking statements. Certain of the statementscontained herein, which are not historical facts, are forward-lookingstatements with respect to events, the occurrence of which involve risksand uncertainties. These forward-looking statements may be impacted,either positively or negatively, by various factors. Informationconcerning potential factors that could affect the company is detailed fromtime to time in the company's reports filed with the Securities andExchange Commission.
If you have received this news release by mistake or if you would like tobe removed from our update list please reply to:monique@flexiblesolutions.com
To find out more information about Flexible Solutions and our productsplease visit www.flexiblesolutions.com.
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Company Contacts:
Jason Bloom
Tel: 250.477.9969
Toll Free: 800.661.3560
Fax: 250.477.9912
Email: Email Contact
Flexible Solutions International
615 Discovery Street
Victoria, BC V8T 5G4 CANADA