NEW YORK, NY--(Marketwired - January 14, 2014) -
Profit Planners Management, Inc. (OTCQB: PPMT) announced its financial results for the six months period ending in November 30, 2013. Revenues were $372,288 compared to revenues of $453,210 for the prior year, a decrease of approximately 18%. The decrease in revenues is primarily attributable to a transition in the client base and the completion of non-recurring projects. Net loss for the six month period was $(206,052) as compared to a net income of $18,000 in the prior year. Costs increased during the six month period, on a comparative basis, resulting primarily from staffing costs and operating expenses to support the growth plans of the Company. These include costs incurred by our Organic Innovations business to develop our Organically Crafted and Golden Age Medical web-sites and brands and set up costs for Profit Planners Management's insurance subsidiary, Profit Planners Insurance Group, Inc.
"We have continued to expand into the areas of growth for our business. Our Organic Innovations subsidiary is still fine-tuning its processes and marketing efforts for our Organically Crafted brand and we have confidence that we will see growth in this area in the coming quarters. The Golden Age Medical brand offers various medical supplies to physicians, nursing homes and hospitals, predominantly for the older senior," said Wesley Ramjeet, PPMT's CEO.
"In November, we re-launched our insurance business under the name Profit Planners Insurance Group to provide insurance coverage for individuals and businesses and specifically address the healthcare initiatives under the Affordable Care Act. This business allows us to provide to our current clients additional products, services and guidance that previously were provided elsewhere," stated Mr. Ramjeet. "Going into 2014, we plan to continue to expand our services in management and advisory consulting, life insurance and healthcare services with a focus on increasing our revenue streams as we go forward," added Mr. Ramjeet.
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 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, earnings per share and future plans. All statements other than statements of historical fact made in this report are forward looking. In particular, the statements herein regarding industry prospects, future results of operations or financial position and the Company's dividend plans, 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," "intends," "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.