Efftec International Inc. Announces Quarterly Results, Raises Forecast for Next Fiscal Quarter
Marketwired MarketwiredDecember 8, 2016
LAS VEGAS, NV--(Marketwired - Dec 8, 2016) - Efftec International, Inc. ( OTC : EFFI ). The Company announced that revenues for the third quarter of 2016 were $141,225 with a gross profit of 14,200, versus no revenue or profit in the same quarter a year earlier. In addition, the balance sheet has been improved dramatically as assets increased due to our recent acquisitions.
Management is increasing its internal estimates for both revenues and earnings based on stronger than expected sales of its core lighting and nutrient lines and synergies created by its acquisitions. The Company expects to be cash flow positive and will only seek non-dilutive financing to spur future growth outside its core business.
"We are extremely pleased with the progress we made during the quarter ending Sept 30. Our balance sheet is improving along with our P&L and we believe that 2017 will be a year of strong organic growth. We expect to provide additional updates regarding our recent acquisitions growth strategy in the near future," stated Jack Morris, Efftec International CEO.
Efftec International. Inc. ( OTC : EFFI ) is a holding company whose mission is to continue its steady growth and become a market leader through strategic acquisitions and organic growth. The company's core business focus is on sales of hardware and nutrients into the hydroponics and indoor growth markets.
This Press Release may contain, among other things, certain forward-looking statements, including, without limitation, (I) statements with respect to the Company's plans, objectives, expectations and intentions; and (ii) other statements identified by words such as "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans" or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management.
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