Profit Planners Management, Inc. Reports Third Fiscal Quarter and First Nine
Months 2012 Results
NEW YORK, NY -- (Marketwired) -- 04/22/13 -- Profit Planners
Management, Inc. (OTCQB: PPMT) today announced financial results for
fiscal 2012 for the nine months ended February 28, 2013. Revenues for
the nine months were $631,055, compared to revenues of $331,283 in
the prior year period, a rise of 90%. Net loss for the first nine
months of the Company's fiscal 2012 was $(58,620) as compared to a
net loss of $(21,222) for the first nine months of fiscal 2012
primarily as a result of increased compensation, other personnel and
For the quarter ended November 31, 2012. The Company posted quarterly
revenue of $177,845 and a loss for the quarter of $(76,620). These
results compare to revenue of $143,583 and net quarterly loss of
$(35,922) in the year-ago quarter. This represents a 24% increase in
revenues. During the quarter, selling, general and administrative
expenses rose substantially as the company developed its sports and
entertainment and consulting practice, increased its presence at its
two offices in the South Florida market and incubated other concepts.
"We continue to expand our practice areas and revenues," said Wesley
Ramjeet, PPMT's CEO. "We are continuing to explore additional growth
opportunities and intend to continue to grow both organically and by
acquisition. We now operate in five business areas: management
services and advisory consulting; CFO, accounting and tax services;
energy and telecom cost reduction and cost recovery; insurance and
healthcare insurance services; and through our Unified Partners
Group, we own and operate a business to business social media
platform to help businesses grow and increase revenue through social
networking. We are particularly pleased with the continued
development of our consulting sports and entertainment advisory
practice. In the third quarter we added both board level advisors and
several new clients to that practice area and continue to increase
the number and types of advisory services offered. We have, in each
of the past two years, issued a 100% stock dividend to our
shareholders. We intend to continue to pay dividends to our
shareholders, either from PPMT directly or a spinoff of one of our
subsidiaries," he added.
About Profit Planners Management, Inc.
Profit Planners Management, Inc. (OTCQB: PPMT) is a publicly traded
company that provides management, financial, marketing and other
professional services and business solutions. Members of our team of
management professionals have both public accounting and industry
experience, and many of them have successfully started and operated
their own companies. This expertise allows our team to understand and
then implement what a company needs to achieve its business goals.
For more information, visit: www.profitplannersmgt.com
This press release contains forward-looking statements including
without limitation those about the Company's estimated revenue and
earnings per share. All statements other than statements of
historical fact made in this report are forward looking. In
particular, the statements herein regarding industry prospects and
future results of operations or financial position are
forward-looking statements. These forward-looking statements can be
identified by the use of words such as "believes," "estimates,"
"could," "possibly," "probably," anticipates," "projects," "expects,"
"may," "will," or "should" or other variations or similar words. No
assurances can be given that the future results anticipated by the
forward-looking statements will be achieved. Forward-looking
statements reflect management's current expectations and are
inherently uncertain. Our actual results may differ significantly
from management's expectations.
Trudy M. Self
Self & Associates
Press spacebar to pause and continue. Press esc to stop.