Mar 29, 2011 08:31 ET
Rouchon Industries, Inc. dba Swiftech® Announces Record Annual Sales of $3.2 Million in 2010, an Increase of 22 Percent Year Over Year
LONG BEACH, CALIFORNIA--(Marketwire - March 29, 2011) - Rouchon Industries Inc. (PINK SHEETS:RCHN), dba Swiftech, a leading producer of advanced air and liquid cooling solutions for the IT industry, is pleased to announce record annual sales of $3.2 million in 2010, an increase of 22 percent over the previous year.
The complete Report is available online at http://www.otcmarkets.com/stock/RCHN/financials.
2010 Key Financial Highlights:
$3.2 Million in gross revenue
Revenue increased 22% ($600k) year over year
Gross profit was up 41%
Net income before taxes up 121% to $197K
Zero Long-Term Debt
The company's performance in 2010 continues a trend of increasing revenues and profits since 2003. Investors are urged to review relevant graphs at:
http://www.swiftech.com/investorrelations.aspx. "I am very pleased to report that Swiftech had its best year ever in 2010. Gross profit was up 41%, and net income before taxes jumped 121%. This allowed us to re-invest the cash proceeds into production equipment, while keeping our long term debt to zero," said Gabriel Rouchon, the company's Chairman & CTA.
"Looking beyond the results of a single year's performance," Gabriel Rouchon added, "I am particularly encouraged to see that the plan we laid out in 2009 and started to implement in 2010 is starting to take shape now: diversification of our business in areas that we had neglected, such as our re-entry in the air cooling business early 2011, and finalization of the registration process for our China subsidiary, which now opens up a whole new market to sell our products. In terms of our business model, 2010 allowed us to continue improving our vertical integration, and also marked our renewed commitment to better communicate with the Public Markets which led us to hiring Agoracom as our Investors Relations Firm."
The company Chairman concluded with a word of cautionary optimism by saying, "Last years' excellent results were primarily due to a cyclical surge in our industrial sales activity, which is approximately based on a 2 year cycle; it thus represented close to 35% of our overall revenues, and we do not expect to reiterate at the same level in 2011. Therefore, in order to continue our growth, we have to compensate by diversifying and by increasing our market presence in the consumer market sector. This process has already begun, and will remain in focus for 2011 and beyond."
Investors are invited to visit the Rouchon Industries IR Hub at http://www.agoracom.com/ir/rouchonindustries where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively investors can email questions and correspondence to rchn@agoracom.com.
About Rouchon Industries Inc (dba, Swiftech) (PINK SHEETS:RCHN)
Swiftech offers a wide variety of advanced air and liquid cooling solutions for the IT industry, and is working with leading OEM's, semi-conductor and PC manufacturers as well as a network of over sixty leading distributors worldwide. The principal business of Swiftech is the development, manufacturing, and sales of thermal management products. They are divided into three categories of cooling products: air, liquid, and thermoelectric. Because Swiftech products have garnered innumerable industry awards in each one of these categories, the company has acquired the confidence of its customers, small and large, to resolve today's most acute thermal management issues, and contribute in shaping the future of the personal computer cooling industry. You can visit Swiftech's website at: http://www.swiftech.com. Or you can email us at: info@swiftech.com.
Safe Harbor
This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.