SOURCE: Groupe Athena Inc.

Groupe Athena Inc.

November 07, 2017 09:00 ET

Groupe Athena, Inc. Posts Strong 1st Quarter Results Approximating $20,000,000 in Revenues

MUMBAI, INDIA--(Marketwired - Nov 7, 2017) - Groupe Athena, Inc. (OTC PINK: GATA) today announced revenues of $19,864,908 for the fiscal quarter ending September 30, 2017, representing a 14% growth over the same period in 2016. Operating income before depreciation, amortization and taxes was $3,128,491, an increase of 34.5% over the corresponding period of the previous year. Cash reserves in the form of short term investments and deposits remain strong and the Company has initiated aggressive marketing measures to further revenue growth.

The Indian pharmaceutical, medical product and device industries is increasingly focusing on exports to the United States and GATA is highly experienced in providing the types of assistance needed to get such products approved by the FDA for sale in the US. All such Indian companies are potential clients of GATA. GATA has a competitive advantage in that it has India-based facilities, and therefore the ability to deliver quick client feedback could result in expedited order generation. GATA recently has been adding equipment to its facilities so that it has increased capacity to meet a growing demand for its services. It believes this combination of factors will result in continued further growth year over year.

About Groupe Athena, Inc.

Groupe Athena, Inc. was incorporated in June 2008 and began operations on July 1 of that year. The company is a research and testing organization and helps various pharmaceutical and medical products and devices companies in India and Southeast Asia to get regulatory approvals and facilitate exports of their products to the United States. The Company accomplishes this by assisting clients from concept through development, providing consultation on regulatory requirements, filings and processes.

The company has a research and marketing facility in India that employs 21 consultants and marketing personnel and is working towards aggressively expanding its presence in the Indian pharmaceutical industry. The Company's web address is www.groupeathena.com.

To review the complete quarterly report please go to www.otcmarkets.com/stock/GATA/quote and click on "Financials"

Safe Harbor Statement

Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.

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