Welcome!

Microsoft Cloud Authors: Janakiram MSV, Yeshim Deniz, David H Deans, Andreas Grabner, Stackify Blog

News Feed Item

AXION Reports Continued Revenue Growth in Third Quarter and Nine Months Ended September 30, 2012

Company to Conduct Conference Call on Tuesday, November 27 at 4:15 pm ET

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.

Highlights include:

  • 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.
www.AXIH.com

Forward-Looking Statements
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.

Add to Digg Bookmark with del.icio.us Add to Newsvine

Contacts

AXION Investor Relations
Email Contact
or
AXION Media Relations
Email Contact
or
(908) 542-0888 ext. 134

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
SYS-CON Events announced today that Dasher Technologies will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Dasher Technologies, Inc. ® is a premier IT solution provider that delivers expert technical resources along with trusted account executives to architect and deliver complete IT solutions and services to help our clients execute their goals, plans and objectives. Since 1999, we'v...
SYS-CON Events announced today that NetApp has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. NetApp is the data authority for hybrid cloud. NetApp provides a full range of hybrid cloud data services that simplify management of applications and data across cloud and on-premises environments to accelerate digital transformation. Together with their partners, NetApp emp...
SYS-CON Events announced today that TidalScale, a leading provider of systems and services, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale has been involved in shaping the computing landscape. They've designed, developed and deployed some of the most important and successful systems and services in the history of the computing industry - internet, Ethernet, operating s...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
Infoblox delivers Actionable Network Intelligence to enterprise, government, and service provider customers around the world. They are the industry leader in DNS, DHCP, and IP address management, the category known as DDI. We empower thousands of organizations to control and secure their networks from the core-enabling them to increase efficiency and visibility, improve customer service, and meet compliance requirements.
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, will lead you through the exciting evolution of the cloud. He'll look at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering ...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere delivers a more modern architectural approach to storage that doesn't require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbui...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
SYS-CON Events announced today that TidalScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale is the leading provider of Software-Defined Servers that bring flexibility to modern data centers by right-sizing servers on the fly to fit any data set or workload. TidalScale’s award-winning inverse hypervisor technology combines multiple commodity servers (including their ass...
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...
As hybrid cloud becomes the de-facto standard mode of operation for most enterprises, new challenges arise on how to efficiently and economically share data across environments. In his session at 21st Cloud Expo, Dr. Allon Cohen, VP of Product at Elastifile, will explore new techniques and best practices that help enterprise IT benefit from the advantages of hybrid cloud environments by enabling data availability for both legacy enterprise and cloud-native mission critical applications. By rev...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant th...
Digital transformation is changing the face of business. The IDC predicts that enterprises will commit to a massive new scale of digital transformation, to stake out leadership positions in the "digital transformation economy." Accordingly, attendees at the upcoming Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA, Oct 31-Nov 2, will find fresh new content in a new track called Enterprise Cloud & Digital Transformation.
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, will discuss how given the magnitude of today's applicati...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...