FT. WORTH, Texas, Jan. 26, 2016 /PRNewswire/ -- Galenfeha, Inc. (OTC:GLFH) is pleased to announce that the company has exceeded its projected fourth quarter revenue increase of 50% by an additional 15.6% over third quarter revenue of $275,000.00. This milestone solidifies the company's revenue generating ability even in the midst of today's volatile oil and gas marketplace.
In fiscal year 2015, chemical injection sales represented 40% of the company's revenue, with sales of Galenfeha's stored energy product line offering a 57% contribution.
Galenfeha's product lines are now distributed through a nationwide network of prominent and well-established vendors. With these channels plus the recent addition of strategic alliances in Canada, the company expects revenue growth to continue in 2016.
Lucien Marioneaux, Jr., Galenfeha, Inc. President/CEO commented, "Galenfeha made great strides in 2015, from securing valuable distributorship agreements to increasing sales of both our product lines. We are very optimistic for our future as we enter 2016."
Mark Warren, Galenfeha's recently appointed Chairman added, "I am extremely pleased to see such positive revenue results, especially in the current economic climate. Galenfeha is poised for a very exciting year ahead."
About Galenfeha, Inc.
Galenfeha (GLFH) is a design, engineering, and manufacturing firm with a focus on stored energy solutions with low environmental impact. Galenfeha designs, manufactures and markets a complete line of patent pending, microprocessor controlled, LiFePO4 chemistry battery systems for Oil and Gas measurement and automation as well as a full line of proprietary high precision chemical injection systems.
For more information on Galenfeha's products and services, please visit www.galenfeha.com.
Ft. Worth, TX
Forward-Looking Statements: Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as "anticipate," "believes," "estimate," "expect," "should," "intend," "projects," "objective," and "appears," and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization, or technological difficulties; the regulatory and trade environment; the impact of reimbursement rates and coverage; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or developments.
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SOURCE Galenfeha, Inc.