ST. LOUIS--(BUSINESS WIRE)--Fuel Performance Solutions, Inc. (FPS) (OTC: IFUE) announced today it has filed its quarterly report on Form 10-Q for the period ended June 30, 2014. Net revenues for the six month period ended June 30, 2014 increased by 2.6 times compared to the six month period ended June 30, 2013. FPS also realized continued gross profit margin expansion, gross profit margin percentage increased by 47% for the six months ended June 30, 2014 compared to the six months ended June 30, 2013, as the Company’s sales mix continues to shift toward higher margin products.
The Company also announced that it has already recorded $614,000 in net revenues for the third quarter of 2014 and total net revenues to date for 2014 of over $1.4 million.
“We are continuing to see quarter over quarter increases in commercial activity and net revenues,” said Stuart Beath, FPS’s CFO. “Our distribution partners are not only increasing the level of sales activities in their initial targeted markets, they are also commencing commercial activities in new geographic markets as well which should further increase quarter over quarter net revenue gains going forward.”
For the six months ended June 30, 2014 the Company recorded a net loss of $653,957 which included non-cash expenses of $3.1 million.
About Fuel Performance Solutions, Inc.
Fuel Performance Solutions, Inc., formerly International Fuel Technology, Inc., is a company focused on providing its technology to large, industrial consumers of diesel fuel and bio-diesel fuel blends in the rail, stationary power generation and road transport industries.
Safe Harbor Statement
Some statements contained in this release may be forward-looking within the meaning of the safe harbor clause of the Private Securities Litigation Reform Act of 1995 including, but not limited to, statements as to commercialization of the Company's products and business development activities. Editors and investors are cautioned that such forward-looking statements involve risks and uncertainties that may cause the Company's actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, the Company's ability to generate revenues and other factors as described in the Company's literature and filings with the Securities and Exchange Commission.
Further information on DiesoLiFTTM and the PerfoLiFTTM BD-Series may be found at FPS’s website: www.internationalfuel.com.