BUSINESS DEVELOPMENT
Untitled Page
Seychelle earns spot on International Business Times 1000
The San Juan Capistrano firm is the 48th fastest-growing company in the world.
by Caitlin AdamsPublished: January 19, 2012 11:05 AM
Seychelle Water Filtration Products, a developer and manufacturer of portable water filtration bottles, has been named the 48th fastest-growing company in the world by the International Business Times. A DBA of Seychelle Environmental Technologies Inc., Seychelle is one of only five U.S. companies to break the top fifty companies on the IBT 1000 list.
The company has reported its tenth straight quarter of profits, with the most recent period’s income after taxes figure being 11 percent of total revenues, compared to the previous year’s figure of 24.1 percent. Seychelle President and CEO Carl Palmer explained that sales were lower this quarter due to delays in negotiating three major new distributor agreements, shipments to Japan and the launch of the company’s new pH product line.
“[W]e anticipate a continuation of the overall sales and earnings trend demonstrated in the IBT Study, primarily as a result of our high margin new products being released during the fourth quarter. We will continue to deal with reducing higher [selling, general and administrative] costs as well as an adverse tax ruling from the State of California as it relates to our net loss carry forwards,” Palmer said.
In related company news, the company has added production and warehousing space to its existing facilities in order to meet the growing demand for its products. Seychelle is also considering outsourcing large assembly orders to third-party fulfillment services in order to increase its efficiency. The company’s continued growth and the increasing demand for its products together with the added production space will make a transition to a higher volume business model possible.
Related headlines
Seychelle Water Filtration Products reports revenue increase of 289.9 percent
Seychelle launches radiological filter for portable water products
Seychelle sees sixth consecutive quarterly profit
|
||||
|
The company has reported its tenth straight quarter of profits, with the most recent period’s income after taxes figure being 11 percent of total revenues, compared to the previous year’s figure of 24.1 percent. Seychelle President and CEO Carl Palmer explained that sales were lower this quarter due to delays in negotiating three major new distributor agreements, shipments to Japan and the launch of the company’s new pH product line. “[W]e anticipate a continuation of the overall sales and earnings trend demonstrated in the IBT Study, primarily as a result of our high margin new products being released during the fourth quarter. We will continue to deal with reducing higher [selling, general and administrative] costs as well as an adverse tax ruling from the State of California as it relates to our net loss carry forwards,” Palmer said. In related company news, the company has added production and warehousing space to its existing facilities in order to meet the growing demand for its products. Seychelle is also considering outsourcing large assembly orders to third-party fulfillment services in order to increase its efficiency. The company’s continued growth and the increasing demand for its products together with the added production space will make a transition to a higher volume business model possible. Related headlines Seychelle Water Filtration Products reports revenue increase of 289.9 percent Seychelle launches radiological filter for portable water products Seychelle sees sixth consecutive quarterly profit |
||||
