NEW YORK, NY--(Marketwire - Oct 17, 2012) - Profit Planners Management, Inc. (OTCQB: PPMT) today announced financial results for its fiscal 2012 first quarter ended August 31, 2012. The Company posted quarterly revenue of $250,800 and quarterly net profit of $58,753. These results compare to revenue of $49,637 and net quarterly profit of $10,333 in the year-ago quarter. This represents a 327% increase in revenues and a 380% increase in net income. As a commitment to increasing shareholder value we declared and issued a 100% stock dividend for the second consecutive year. The dividend was distributed on October 10, 2012 to shareholders of record as of September 28, 2012.
The Company's increased revenue, and net profit, for the quarter were the result of new customers and service offerings added in the first fiscal quarter of August 31, 2012 compared to the year ago quarter.
"We are extremely pleased that the company was able to increase its revenue and cash flow for the first quarter and report a net profit for the quarter with only a modest increase in SG&A expenses," said Wesley Ramjeet, PPMT's CEO. "We are continuing to focus our energies on increasing the customer base of the company, increasing the company's revenues and broadening our business areas. We have been very pleased with the initial response to our recently launched Sports and Entertainment Practice and expect it to become one of our growth drivers in the future. Over the coming months we expect to move forward in developing our company infrastructure, adding additional management in key areas, acquisitions, developing an advisory board that we anticipate will assist in the development of additional products designed to enable our company to become a significant player in this market," 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.