Updates on 2014 Objectives
MONTREAL, March 6, 2014 /CNW Telbec/ - Imaflex Inc. (TSXV: IFX) ("Imaflex" or the "Company") is pleased to announce that it anticipates top-line revenue of approximately $55 million for fiscal 2013. This represents greater than 15% year over year growth, when compared to fiscal 2012 revenue of $47 million. The Company anticipates releasing its full audited fiscal 2013 financial results on April 16, 2014.
"We are very pleased with the trajectory our businesses are on, and anticipate continued revenue growth this year," commented Joe Abbandonato, President and CEO of Imaflex. "Starting in 2013, we began investing heavily in our agriculture business, including new leadership to support the commercialization of our current agricultural films, and our pipeline of new proprietary products. This increased investment was made because we anticipate that our agriculture business will be our engine for growth this fiscal year and beyond."
Imaflex is also pleased to announce its corporate goals and objectives for 2014;
- The building of a small, technically astute, sales organization for the agriculture business to increase revenues of the Company's existing Environmental Protection Agency (EPA) qualified agricultural films. These films have already demonstrated to be of exceptional quality, as per the EPA's Tarp Testing Protocol
- Complete the final lab and field tests for the Company's first-in-class herbicidal releasing agricultural film
- Make regulatory submission to the EPA for the Company's herbicidal releasing agricultural film
- Continue to evaluate North American acquisition opportunities
Joe Abbandonato added, "We are well on the way towards achieving our target of becoming a leader in the agriculture film market. The high quality of our products combined with our commitment towards innovation will translate into a growing agriculture business for the current and coming years."
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward Looking Information
Certain information included in this press release constitutes "forward-looking" statements within the meaning of Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the management of the Corporation, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies. The Corporation cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Imaflex to be materially different from the Corporation's estimated future results, performance or achievements expressed or implied by those forward-looking statements and that the forward-looking statements are not guarantees of future performance. These statements are also based on certain factors and assumptions. For more details on these estimates, risks, assumptions and factors, see the Corporation's most recent Management Discussion and Analysis filed on SEDAR. The Corporation disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as expressly required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.
SOURCE: Imaflex Inc.
Imaflex Inc.
Joseph Abbandonato, President and C.E.O
Giancarlo Santella, CPA, CA - Corporate Controller
Tel: (514) 935 - 5710
Fax: (514) 935 - 0264
e-mail: [email protected]
Website: www.imaflex.com
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