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Groupe Athena, Inc. Clarifies Previous Guidance
Date:8/24/2011

MUMBAI, India, Aug. 24, 2011 /PRNewswire/ -- Groupe Athena, Inc. (Pink Sheets: GATA) announced on August 15, 2011 they have approximately $60 million in customer orders that they are currently processing, and they are expecting this number to increase in the near term.  Based on the orders in hand the company expects to be able to convert at least two thirds or approximately $40 million into revenue during the current fiscal year.

The company also stated that due to the recent capital investments in equipment and facilities which has increased their ability to perform more services in-house, they will to be able to increase net profit margins on future revenues by 1.5-2%. To clarify this projection the company issued the following example:

Approximate current hourly rate for outsourcing of tests: $1,750

Approximate In-house hourly rate for same process:       $3-400

Based on this scenario the company expects to reduce these costs up to 80% over current levels.

The resulting savings to net earnings would have added several hundred thousand dollars to fiscal 2011 net earnings and will have a positive impact on any future earnings.

The company is on track to report revenue of $12,000,000 for the current quarter, which would be more than the first and second quarters combined of the previous fiscal year and well in line with their expectations for the current fiscal year.

The company is still committed to funding all capital expenditures entirely from internal cash accruals without any further dilution or debt increases.

As was previously stated, the Indian pharmaceutical industry is increasingly focusing on exports to the United States and GATA is well positioned to help them get their products approved by the FDA for sales in the US. All of these are potential clients and the Company believes it has an adv
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SOURCE Groupe Athena, Inc.
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