Groupe Athena, Inc. Posts Strong 3rd Quarter Results

MUMBAI, INDIA / ACCESSWIRE / April 11, 2016 / Groupe Athena, Inc. GATA announced today revenues of $15,162,114 for the period ending March 31, 2016. Operating income before depreciation, amortization and taxes were $2,063,959 while net income increased an impressive 52.89% compared to the corresponding period in 2015, to $1,640,944.

Total revenues for the 9 month period this fiscal year were $59,487,887 which is well on pace to meet or exceed the previously announced 12 month guidance. Net earnings for the same period were $4,773,269, approximately .10 per share.

Cash reserves in the form of short term investments and deposits are extremely healthy and the Company's backlog of orders is larger than ever and growing while long term debt remains virtually non-existent.

The Indian pharmaceutical industry is increasingly focusing on exports to the United States and GATA is well positioned to help them get their products approved by the FDA for sales in the US. All of these exporter companies are potential clients and the Company believes it has an advantage over competitors due to the facilities based in India, and their ability to deliver quick feedback to clients that could result in expedited order generation. With recent additions to equipment, the company will continue to take on additional contracts and continue to anticipate further growth.

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 devices companies in India and Southeast Asia to get regulatory approvals and facilitate exports of their products to the United States. The Company accomplishes this by assisting clients from concept through development, providing consultation on regulatory requirements, filings and processes.

The company has a research and testing facility in India that employs 22 consultants and is working towards aggressively expanding its presence in the Indian pharmaceutical industry. The Company's web address is www.groupeathena.com.

To review the complete quarterly report please go to http://www.otcmarkets.com/stock/GATA/filings and click on "Filings & Disclosure."

For more information contact:

Groupe Athena, Inc.
info@groupeathena.com
877-647-6876

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.