MUMBAI, INDIA--(Marketwired - Apr 11, 2017) - Groupe Athena, Inc. (OTC: GATA) announced today revenues of $10,665,210 for the period ending March 31, 2016. Operating income before depreciation, amortization and taxes were $1,662,277 while net income was $1,233,147.
Total revenues for the 9 month period this fiscal year were $43,816,222 which is well on pace to meet the previously announced 12 month guidance. Cash reserves in the form of short term investments and deposits are extremely healthy while long term debt remains virtually non-existent.
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 exporter companies 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. 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 testing facility in India that employs 21 consultants 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 http://www.otcmarkets.com/stock/GATA/filings and click on "Filings & Disclosure".
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