SOURCE: Rouchon Industries, Inc.
LONG BEACH, CA--(Marketwire - Nov 15, 2012) - Rouchon Industries, Inc., dba Swiftech® (PINKSHEETS: RCHN), today reported its interim financial reports for the 3rd quarter ended September 30th, 2012. The Company specializes in manufacturing advanced air, liquid, and thermoelectric cooling devices for the IT industry, and provides thermal management solutions for consumers, OEMs 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 19% to $2.5 Million fueled by a 115% increase in industrial sales;
- Gross Profits rose 37% to $1.1 Million reflecting a 15% increase in gross profit margins;
- Operating Expenses rose 13% to $841k as a result of workforce augmentation; and
- Net Profits before provisions for income tax rose 626% to a net income of $219k
Gabriel Rouchon, Swiftech's Chairman and CEO, stated, "Our entire organization continues to deliver on the company's goals and producing results that are in line with earlier expectations. Industrial Sales remain on course with the bulk of the shipments taking place during this 4th quarter. In the Retail sector, new products released during the 2nd quarter received excellent press with two Editor's Choice Awards thus far; this helped fuel the notable 36% increase in export sales resulting from our European partners renewed efforts. With recently appointed Robert Chan at its head, our new Asia Sales division is now complete, and tangible results are expected to start materializing in the first quarter of 2013. The most exciting news is on the manufacturing side of things with the official launch of our new DC motor manufacturing operations. This new capability gives us a degree of freedom and competitiveness that couldn't be achieved until now, particularly in the high-volume sector of our business where major OEM agreements are in progress for a new product line to be announced before year-end."
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 at http://www.otcmarkets.com/stock/RCHN/filings. 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.