SOURCE: Rouchon Industries, Inc.
LONG BEACH, CA--(Marketwire - Aug 9, 2012) - Rouchon Industries, Inc. dba Swiftech® (PINKSHEETS: RCHN), today reported its interim financial reports for the 2nd quarter ended June 30, 2012. The Company specializes in manufacturing advanced air, liquid, and thermoelectric cooling devices for the IT industry, and provides thermal management solutions for consumers, OEM's and industrial customers.
The complete report is available online at http://www.otcmarkets.com/stock/RCHN/filings
Key financial highlights
Year over year:
- Revenues increased 39% to $1.7 Million fueled by a 300% increase in industrial sales;
- Gross Profits rose 60% to $673k reflecting a 15% increase in gross profit margins;
- Operating Expenses rose 7% to $521k as a result of workforce augmentation; and
- Net Profits rose 330% to a net income of $152k
Gabriel Rouchon, Swiftech's Chairman and CEO, stated, "Our entire organization is delivering on the company's goals and producing results that are exceeding expectations. In addition to a portfolio of existing purchase orders spanning deliveries until the end of 2012, and an unprecedented number of new products released in the past 6 months, we also have several major product development projects on the verge of completion that we plan on unveiling well before year end. We do expect these new product lines to further reinforce Swiftech's position as a leading solution provider in the industry, and thus anticipate even stronger results in the next two quarters and beyond. We continue to see a sustained demand across all major product lines, and the ramp up of our China division to begin sales in the China market is expected to further add to the bottom line. I would like to take this opportunity to thank our loyal and talented employees for their hard work, as well as our shareholders for their trust and unwavering support."
This release contains certain "forward-looking statements" relating to the business of the Company. All statements, other than statements of historical fact included herein are "forward-looking statements." Such statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the OTC Markets and available online here: http://www.otcmarkets.com/stock/RCHN/financials. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.