SOURCE: Profit Planners

Profit Planners

April 22, 2013 11:00 ET

Profit Planners Management, Inc. Reports Third Fiscal Quarter and First Nine Months 2012 Results

NEW YORK, NY--(Marketwired - Apr 22, 2013) - 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 infrastructure costs.

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.

Contact Information

  • Contact:
    Trudy M. Self
    Self & Associates
    (909) 336-5685