LONG BEACH, CA--(Marketwire - Mar 20, 2013) - Rouchon Industries, Inc. dba Swiftech® ( PINKSHEETS : RCHN ) has released its year-end reports for the fiscal year ended December 31st, 2012. The Company specializes in manufacturing advanced air, liquid, and thermoelectric cooling devices for the IT industry, and provides thermal management solutions for consumers, OEMs and industrial customers.
Key financial highlights, year over year:
Revenues increased 14% to $3.6 Million
Net Profits after provisions for income tax rose 118% to a net income of $224k
Gabriel Rouchon, Swiftech's Chairman and CEO, stated, "2012 was our best year since inception, both in terms of gross revenues and net profits. As a result, net cash from operations provided adequate funding for the acquisition of capital equipment and tooling in preparation for an aggressive 2013 growth plan. Among the fundamental changes in the company's activity in 2012 was the addition of an electric motor production line. This allowed us to manufacture in house the new generation of pumps used in the all-in-one H220 CPU cooling system that was unveiled during CES in January 2013. Once again, our entire organization continues to deliver on the company's goals by producing results that meet or exceed our highest expectations and I want to take this opportunity to thank our customers, vendors, employees and shareholders for helping us in realizing such strong and steady growth in 2012."
Swiftech's entry in the high volume all-in-one CPU cooling market has received considerable industry attention, and is expected to fuel the company's accelerated growth in 2013 and beyond. The company has a ten year track record of consistently profitable operations, and remains debt free, a fact that has not escaped investors who began rallying around RCHN stock beginning April 2012.
This release contains certain "forward-looking statements" relating to the business of the Company. All statements, other than statements of historical fact included herein are "forward-looking statements." Such statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the OTC Markets and available online here: http://www.otcmarkets.com/stock/RCHN/financials
. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.