February 29, 2008 08:03 ET
PRG Group Triples Annual Revenues in 2007
PISCATAWAY, NJ--(Marketwire - February 29, 2008) - PRG Group, Inc. (PINKSHEETS: PRGJ), a
holding company for PRG Systems Inc., Prime Communications Inc. and
LOCATUM, is pleased to announce that total revenues for all divisions in
fiscal 2007 were $9.5 million dollars.
"We came within the range of our projections stated last spring," said Uma
Pandey, CEO of PRG Group, "and when you factor in the sharp downturn in
other industries and the economy at large, we have to be proud of last
year's success," Pandey added.
"The challenge now is to remain on the conservative side of our forecasts
and estimates while enjoying this jump in annual revenue from 3 million to
more than 9. I'm tempted to say 2008 will exceed our fiscal expectations,
due to expansion of the Training Division and pending market introduction
of new products. But I feel safe in saying we'll at least meet those
expectations; 2008 is shaping up very well thus far," concluded Pandey.
About PRG Group, Inc.:
PRG Group, Inc., a holding company for PRG Systems Inc., Prime
Communications and LOCATUM, has lines of business in: Consulting, Managed
Services, Equipment, Network Services, Research & Development and
Professional Training. PRG Group subsidiaries provide leading edge business
support processes, technology and software to companies seeking to improve
their cost structure, productivity and system efficiency. PRG Group, a
Delaware-based corporation with offices in New Jersey, has been recognized
as a leader in designing integrated solutions for businesses of all sizes.
For more information, visit http://www.prg-group.com.
Safe Harbor Statement:
Except for historical information contained herein, the matters set forth
above may be forward-looking statements that involve certain risks and
uncertainties that could cause actual results to differ from those in the
forward-looking statements. Such forward-looking statements are based on
the current beliefs of management and information currently available to
management. Actual results could differ materially from those contemplated
by the forward-looking statements as a result of certain factors, such as:
the level of business and consumer spending, the ability of the Company to
continue to expand its operations, and economic conditions in the industry.
The Company does not undertake any obligation to update such
forward-looking statements. Investors are also directed to consider all
other risks and uncertainties.