Groupe Athena Inc. (OTCMKTS:GATA) announced its second quarter results last month. The revenues rose to approximately $19 million in 2Q compared to $17.9 over the same period a year ago. The net income came at $0.04 per share. The total assets including reserves and cash stands at $24.6 million and liabilities in 2Q remain low at $59,138.
The financial performance
Groupe Athena reported operating income before amortization and depreciation at $2.84 approximately. It included research and development expense of $428,659. The Indian Pharma sector is increasing to focus on exports to the U.S. In such a scenario, Groupe Athena Inc. (OTCMKTS:GATA) is well placed to benefit in the near term. It assists the Indian Pharma companies to get FDA approval so that they can sell their products in the U.S.
The potential clients
Groupe Athena said that it had an impressive list of potential clients. It is in a better position compared to peers due to its advanced facilities based in India. Groupe Athena Inc. (OTCMKTS:GATA) provides quick feedback to its customers that further results in expedited order generation. Groupe Athena has added the latest set of equipments in the facilities that will help it get additional contracts in the coming quarters. It will contribute significantly in expanding its operations in India.
The other plans
Groupe Athena has been in negotiation talks with several Indian drug firms for the manufacture of generic pharmaceuticals. It wants to market these generic products in the UK once it gets the necessary license. The company is an old player in the field of research and testing. It started to provide its services in 2008. It assists various pharmaceutical and medical companies in Southeast Asia and India to acquire regulatory approvals and increase exports to their medical products to the U.S. It helps in all the stags right from concept through development. Groupe Athena Inc. (OTCMKTS:GATA) has a dedicated research and marketing facility in India.