PERTH, AUSTRALIA and GREER, SC--(Marketwired - Apr 12, 2016) - Alexium International Group Limited (Alexium) (
Highlights:
- New purchase orders of US$530,000 secured in April (month-to-date).
- Month-to-date revenue over 65% of total 3Q revenue budget.
- Seventh quarter of continuous growth for Alexium.
- Alexium reaffirms CY2016 top-line revenue guidance of US$18.5M.
Alexium International Group Limited (Alexium) (ASX:AJX, OTC QX:AXXIY) announced sales and product updates and reaffirmed revenue guidance of US$18.5M in calendar year (CY) 2016. Business development is off to a strong start for the fourth quarter of fiscal year (FY) 2016 with Alexium securing over US$530,000 of purchase orders from existing and new customers in the month-to-date. In addition, the Company has scheduled nine additional initial production runs, which is the final scale-up run before production, with a number of customers this month.
Over the past several quarters, Alexium has expanded active industry markets to six, grown their global distribution network and secured strategic partnerships. In addition, increased government scrutiny of the risks associated with certain flame retardants is leading to a changed landscape in the U.S. and abroad, providing further impetus for manufacturers to adopt Alexium's innovative, environmentally friendly alternatives.
"We saw solid performance in the third quarter of FY 2016, which marked our seventh quarter of continuous growth, and are very pleased with the sales results of the past two weeks," said Dirk VanHyning, President. "Given our sales momentum and excellent growth prospects, we remain confident with our projections to be in a cash neutral position by July 1, 2016, and are on track for our forecast of US$18.5M for calendar year 2016."
About Alexium
Alexium International Group Limited (ASX: AJX, AX:AJX OTC QX: AXXIY) holds proprietary patent applications for a process developed initially by the U.S. Department of Defense, which allows for the surface modification and attachment of nano-particles or multiple chemical functional groups to surfaces or substrates to provide functions such as fire retardancy, water proofing, oil proofing, and anti-microbial treatments. Applications under development include but are not limited to textiles, paints, and packaging, glass and building materials. Alexium's fire retardant chemical treatments are currently marketed for different fabric markets under the Alexiflam™, Ascalon™, Nycolon™, Nuvalon™, and Polytron™, Omnitron™ and Bactron™ trademarks.