MUMBAI, India, Aug. 27, 2012 /PRNewswire/ -- Groupe Athena, Inc. (Pink sheets: GATA) has announced record revenues of $44,571,386 for the recent fiscal year ended June 30, 2012, an increase of 78% over the previous year. After tax earnings increased 116% to a record $4,417,047 or $0.094 a share.
Though the company added $4,656,442 in assets, its cash position is extremely healthy with cash and short term assets of $3,286,141 as against current liabilities of $84,090. The company is proud of the fact that all equipment and other acquisitions have been made entirely from internally generated cash and it is the commitment of management that future additions to the asset base be accomplished without any further dilution or debt increases. The Company has no plans for shareholder dilution over the next 12-18 months.
To read the complete annual report, please go to www.otcmarkets.com and enter the company's trading symbol "GATA"
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 device companies in India and Southeast Asia to get regulatory approvals and facilitate exports of their products to the United States. The Company's web address is www.groupeathena.com.
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.
SOURCE Groupe Athena, Inc.