|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.
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and analyzed? As an area of investment, how might a retail company move towards an innovation methodolo...
Aug. 27, 2015 06:15 PM EDT Reads: 377
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
Aug. 27, 2015 05:45 PM EDT
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Aug. 27, 2015 02:45 PM EDT Reads: 374
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
Aug. 27, 2015 02:15 PM EDT
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Aug. 27, 2015 02:00 PM EDT Reads: 320
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Aug. 27, 2015 01:00 PM EDT Reads: 282
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Treloar, President and COO of Bebaio, will explore examples of brands transforming their businesses by t...
Aug. 27, 2015 11:30 AM EDT
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of IoT applications and projects. Business operations, IT, and data scientists need advanced analytics t...
Aug. 27, 2015 10:45 AM EDT Reads: 310
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
Aug. 27, 2015 10:00 AM EDT Reads: 117
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes about through a Communications Platform as a Service which allows for messaging, screen sharing, video...
Aug. 27, 2015 06:15 AM EDT Reads: 505
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevOps to advance innovation and increase agility. Specializing in designing, imple...
Aug. 26, 2015 08:00 AM EDT Reads: 153
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
Aug. 26, 2015 07:00 AM EDT
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Aug. 3, 2015 06:45 PM EDT Reads: 772
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
Aug. 2, 2015 11:15 AM EDT Reads: 538
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Aug. 1, 2015 10:00 AM EDT Reads: 467
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
Jul. 30, 2015 07:30 PM EDT Reads: 1,555
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
Jul. 30, 2015 02:30 PM EDT Reads: 267
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...
Jul. 30, 2015 12:00 PM EDT Reads: 2,213
In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit for the EMC Federation.
Jul. 30, 2015 09:00 AM EDT Reads: 2,305
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of profound change in the industry.
Jul. 29, 2015 03:00 PM EDT Reads: 1,436