International Absorbents Inc. Third Quarter Yields Record Revenues Sales Milestone Posted for October
BELLINGHAM, Wash., Nov. 18 /PRNewswire/ -- International Absorbents Inc. (OTC: IABS - news), a leading manufacturer and marketer of absorbent products made from waste wood pulp, today reported record revenues of $1.4 million for the quarter ended October 31, 1997, a 20% improvement over the same period last year. For the month of October, the Company reported sales of nearly $600,000, another new record.
''We are very encouraged with the continued market expansion experienced in both our Animal Care and Industrial Divisions,'' commented Gordon Ellis, Chairman of International Absorbents. ''Ongoing progress in production efficiency improvements and cost controls gives us further reason to be optimistic. While our stock continues to experience considerable volatility, partially due to the conversion and sale of shares under an outstanding convertible debt
issue, our primary focus remains on building a strong base for future growth and shareholder value.''
International Absorbents Inc. develops, manufactures and markets patented and proprietary, cost-effective sorbent products derived from recycled, renewable materials. These environmentally safe products outperform conventional products used in a broad range of industrial and consumer applications, including oil and hazardous liquid spill cleanup and control, oil/water filtration, packaging and commercial/retail animal bedding and litter. Further information about International Absorbents is available at absorbent.com .
This press release may contain forward-looking statements with respect to the operations and business of the Company that involves risks and uncertainties. These risks and uncertainties are detailed from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE: International Absorbents Inc. |
