|By Marketwired .||
|November 21, 2012 05:31 PM EST||
NEW PROVIDENCE, NJ -- (Marketwire) -- 11/21/12 -- AXION International Holdings, Inc. (OTCBB: AXIH), a leader in recycled plastic and plastic composite technologies used to produce ECOTRAX rail ties and STRUXURE building products, today announced financial results for its 2012 third quarter and nine months ended September 30, 2012.
- Nine month revenues grew 124% to $4.9 million over prior year period
- Third quarter revenues grew 14% to $0.8 million over prior year period
- Completed investment in tooling and equipment that will allow for increasing annual production capacity to $30 - $40 million
- Sold product to six new customers during the quarter
- Sold more product to six existing customers during the quarter
- ECOTRAX is currently in track testing or undergoing purchase approval in Australia, Brazil, Chile, Mexico, New Zealand, Russia, Singapore, and Europe on leading passenger and freight lines
- Continued investments into product development, production processes, sales and marketing, and reduction of raw materials costs
"We are very excited about the continued progress we have achieved. We are building a manufacturing company and supporting sales and marketing activities to gain adoption of our breakthrough products. Selling a new, proprietary, branded building product is a process that involves a long sales cycle and we have made significant progress in a short period of time. In less than two years we've grown from being primarily engaged in product development to now having products sold and tested on every continent in the world with the exception of Antarctica," stated AXION's President and CEO Steve Silverman.
"We greatly appreciate the support of our investors as we make progress towards competing profitably. Creating, manufacturing and selling building materials out of recycled plastics that offer superior quality and long-term return on investment for the customer, while also benefitting the environment is a significant achievement and we thank our investors for sharing this journey with us."
"Our revenues are up and our losses have narrowed, while we increased investments in product quality, sales, marketing, and manufacturing. We've invested in tooling and equipment to increase our annual production capacity to $30 to $40 million. Our gross margins are expected to show improvements as sales volume and technology adoption rates for ECOTRAX and STRUXTURE grow, resulting in an opportunity to optimize our materials supply chain and reduce raw materials costs. Our Class 1 rail customer, which has accounted for a large part of our sales to date, has served as an early adopter, loss leader, and has helped drive our manufacturing, allowing us to evolve into serving a more diversified customer base. We continue to build a large pipeline of sales opportunities with numerous new customers, that are all moving forward on schedule," added Silverman.
AXION reported $800,007 in revenues for the third quarter of 2012, a 14% increase compared to $698,758 for the third quarter of 2011. The Company's gross margin was $12,929 for the third quarter of 2012 compared to $76,504 in the same period of the prior year. Seventy-three percent of AXION's revenues in the third quarter were derived from a Class 1 railroad customer, which was an early adopter of ECOTRAX. This put heavy pressure on the Company's margins in the third quarter.
Product development and quality management expenses increased to $320,137 in the third quarter of 2012 compared to $129,771 in the same period of the prior year. Marketing and sales expenses similarly increased in the third quarter of 2012 to $362,851 from $103,401 in the third quarter of 2011. General and administrative expenses declined to $581,561 in the third quarter of 2012 compared to $1,273,850 in the third quarter of 2011.
Loss from operations narrowed to $1,251,620 in the third quarter of 2012 from $1,430,518 in the third quarter of 2011. Net loss attributable to common shareholders for the third quarter of 2012 narrowed by 67% to $1,353,253 or $0.05 per basic and diluted share compared to a net loss attributable to common shareholders of $4,060,959 or $0.16 per basic and diluted share for the third quarter of 2011, as restated.
Revenues increased 124% for the nine months ended September 30, 2012 to $4,892,802 from $2,187,379 in the first nine months of 2011. Gross margin was $64,155 in the first nine months of 2012 compared to $84,864 in same period of the prior year. Sixty-five percent of AXION's revenues in the first nine months of 2012 were derived from its first Class 1 railroad customer, putting heavy pressure on the Company's margins for nine month period, just as it did in the third quarter. In the nine month period ended September 30, 2012, AXION invested further in product development and product quality management, which increased to $883,979 from $296,408 from the prior year, as well as marketing and sales expenses which increased to $749,913 from $167,076 in the prior year. General and administrative expenses declined to $2,788,381 for the nine months ended September 30, 2012 compared to $5,160,523 for the corresponding period of 2011.
Loss from operations narrowed to $4,358,118 in first three quarters of 2012 from $5,539,143 in the same period of 2011. Net loss attributable to common shareholders for the nine month period ended September 30, 2012 declined by 50% to $5,316,380 or $0.20 per basic and diluted share compared to a net loss attributable to common shareholders of $10,629,296 or $0.44 per basic and diluted share in the same period in 2011, as restated.
Conference call details:
Date: Tuesday, November 27, 2012
Time: 4:15 p.m. Eastern Time (ET)
Dial in Number for U.S. & Canadian Callers: 877-407-0668
Dial in Number for International Callers (Outside of the U.S. & Canada): 201-689-8558
For those unable to participate in the call at the scheduled time, a replay will be available for 7 days starting on November 27th at 8:00 p.m. ET. To access the replay, please dial 877-660-6853 in the U.S. and Canada, and 201-612-7415 for international callers. The conference ID# is 403676.
About AXION International Holdings, Inc.
AXION (OTCBB: AXIH) is green technology company, transforming waste plastics into structural building materials. Using 100%-recycled consumer and industrial plastics, AXION develops, markets and sells its recycled structural composite products through its ECOTRAX composite railroad tie and STRUXURE building material lines. From the railroading industry to the military to global engineering firms, AXION delivers tested, proven and superior green solutions to infrastructure needs around the world.
This release contains "forward-looking statements" for purposes of the Securities and Exchange Commission's "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. These forward-looking statements are subject to various risks and uncertainties that could cause AXION's actual results to differ materially from those currently anticipated, including the availability of materials at favorable pricing, sufficient manufacturing capability and the risk factors identified in AXION's filings with the Securities and Exchange Commission.
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
Jul. 29, 2016 03:15 PM EDT Reads: 599
On Dice.com, the number of job postings asking for skill in Amazon Web Services increased 76 percent between June 2015 and June 2016. Salesforce.com saw its own skill mentions increase 37 percent, while DevOps and Cloud rose 35 percent and 28 percent, respectively. Even as they expand their presence in the cloud, companies are also looking for tech professionals who can manage projects, crunch data, and figure out how to make systems run more autonomously. Mentions of ‘data science’ as a skill ...
Jul. 29, 2016 03:00 PM EDT Reads: 367
IoT generates lots of temporal data. But how do you unlock its value? You need to discover patterns that are repeatable in vast quantities of data, understand their meaning, and implement scalable monitoring across multiple data streams in order to monetize the discoveries and insights. Motif discovery and deep learning platforms are emerging to visualize sensor data, to search for patterns and to build application that can monitor real time streams efficiently. In his session at @ThingsExpo, ...
Jul. 29, 2016 02:00 PM EDT Reads: 1,200
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 29, 2016 01:00 PM EDT Reads: 2,093
ReadyTalk has expanded the capabilities of the FoxDen collaboration platform announced late last year to include FoxDen Connect, an in-room video collaboration experience that launches with a single touch. With FoxDen Connect, users can now not only engage in HD video conferencing between iOS and Android mobile devices or Chrome browsers, but also set up in-person meeting rooms for video interactions. A host’s mobile device automatically recognizes the presence of a meeting room via beacon tech...
Jul. 29, 2016 12:15 PM EDT Reads: 312
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
Jul. 29, 2016 11:15 AM EDT Reads: 678
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
Jul. 29, 2016 11:15 AM EDT Reads: 1,341
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Jul. 29, 2016 09:45 AM EDT Reads: 2,136
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Jul. 29, 2016 09:45 AM EDT Reads: 1,033
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
Jul. 29, 2016 09:45 AM EDT Reads: 1,474
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
Jul. 29, 2016 07:15 AM EDT Reads: 1,647
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Jul. 29, 2016 06:45 AM EDT Reads: 2,374
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
Jul. 29, 2016 04:45 AM EDT Reads: 2,577
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Jul. 29, 2016 04:15 AM EDT Reads: 2,689
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
Jul. 29, 2016 02:45 AM EDT Reads: 1,625
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
Jul. 29, 2016 02:30 AM EDT Reads: 1,471
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
Jul. 29, 2016 02:00 AM EDT Reads: 1,703
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
Jul. 29, 2016 12:15 AM EDT Reads: 2,018
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Jul. 28, 2016 11:45 PM EDT Reads: 1,283
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 28, 2016 10:15 PM EDT Reads: 1,456