April 12, 2012 at 09:00 AM EDT
Axion International Reports Impressive Sales Growth for First Three Months of 2012
Axion International Holdings, Inc. (OTCBB: AXIH.OB), a leader in recycled plastic and plastic composite technologies used to produce ECOTRAX™ rail ties and STRUXURE™ building products, today announced that the Company’s sales for the first quarter ended March 31, 2012 were $2.3 million compared to $191,000 for the same period in 2011 and $1.7 million for the fourth quarter of 2011. The Company expects to release its complete earnings report prior to its conference call early next month.
“We’re very pleased with the progress we’ve made in the last twelve to sixteen months, and we feel the evidence is the increase in our total sales,” stated Axion’s President and CEO, Steve Silverman. “Axion’s focus over this period has been to emerge from a ‘proof of concept’ company into a manufacturing and sales organization. Twelve months ago we started our 'mass marketing' effort. As a result, we sold product to 26 customers in 2011 and built a pipeline containing numerous potential sales opportunities across customers around the globe. In 2011 we attended three trade shows globally, signed distribution agreements for South America and Australia and we began to actively advertise across the rail industry. Many of our customers that placed initial orders that we shipped in 2011, are now re-ordering or have initiated conversations for long-term supply agreements. Considering we are marketing and selling an infrastructure product, we believe this is outstanding progress. In addition to this sales growth, we’ve also scaled up our manufacturing capacity and our quality systems so we can properly serve our customers. We currently have two fully operational manufacturing lines and anticipate our third manufacturing line by the end of next quarter. This is an exciting time at Axion. We’re beginning to see the rewards of our hard work and we believe 2012 will further prove that we made the correct choices for the Company as we continue the challenge of growing our business.”
About Axion International Holdings, Inc.
Axion International Holdings, Inc. (OTCBB: AXIH.OB - News) develops, manufactures and sells rail ties and structural building products made from 100% recycled consumer and industrial plastics and plastic composites. It offers its ECOTRAXTM composite rail ties, and STRUXURETM composite structural building products such as, I-beams, pilings, tongue and groove planking, and various sizes of boards, for use in engineered design solutions, such as rail and tank bridges, pedestrian and recreation bridges, marinas, boardwalks, and bulk heading, throughout the world. Axion markets its composite products to the railroad industry, military, and industrial engineering and contracting firms. Axion International Holdings, Inc. was founded in 2006 and is headquartered in New Providence, New Jersey.
For additional information, please visit Axion’s corporate website: www.axionintl.com
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.
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