MUMBAI, India, Oct. 10, 2011 /PRNewswire/ -- Groupe Athena, Inc. (Pink sheets GATA.PK) announced today record revenues of $12,211,400 for the first quarter ending September 30, 2011 which generated pretax earnings of $1,566,906, or $.033 per share which is also a record for the same period. With the most recent strong quarter, trailing twelve month (ttm) earnings jumped to nearly $.10 per share. The record quarterly revenue was significant in that it equaled nearly 50% of total revenue for all of the previous fiscal year.
The Company's Chairman, D. Purohit stated, "As our markets continue to expand within India and the region, we expect to see continued strong revenue and earnings growth, and with the recently reported asset additions which allow us to perform more services in-house, our margins are also increasing significantly. We are also very pleased to have a healthy backlog to build on which currently insures our growth well into fiscal 2013."
To review the complete quarterly report please go to www.otcmarkets.com/stock/GATA/quote and click on "Financials."
The company reports it is still committed to funding all capital expenditures entirely from internal cash accruals without any shareholder 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 advantage over competitors due to the facilities based in India, and their ability to deliver quick feedback to clients that could result in expedited order generation. With recent additions to equipment, the company will continue to take on additional contracts and continue to anticipate further growth.
About Groupe Athena, Inc.
Groupe Athena, Inc. wa
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