SOURCE: Pro Travel Network, Inc.

May 23, 2007 06:00 ET

PTVL Announces Incredible Third Quarter Results

Revenues up 32%, Gross Profit Soars up 51% Over Same Period Last Year

FRESNO, CA -- (MARKET WIRE) -- May 23, 2007 -- Pro Travel Network, Inc. (OTCBB: PTVL) announced today an increase in revenues of $508,027 or 32% from the same period comparison for 2006. Gross revenues for the period ending 3/31/2007 were $2,398,703. In addition to this good news, the company also reports a gross profit of $1,256,695. These significant milestones for the company are attributable to an increase in the number of agents. This increase is a direct result of global expansion, and national and international training events.

Chief Executive Officer Paul Henderson states, "We are very pleased with the financial results we just posted, and expect that the fourth quarter will be even more promising." Excluding the non-cash related expenses, the company reported positive cash flow from operations of $44,393. These mostly non-cash related issuances of stock are expected to reflect a one-time adjustment to the financial statements. In addition Pro Travel Network continues its practice of not holding any long-term debt.

"Our expansion into Canada, and execution of other strategic plans will allow us to create a platform for growth, which we believe could be unparalleled in the industry. I applaud the hard work of our staff and our representatives in their development of a solid financial basis for growth," states Henderson. This represents the 5th quarter where revenues and gross profit have increased simultaneously. The company will announce additional board members soon, and results from their International operations should follow.

About the Company

Pro Travel Network is a global marketing company that harnesses the power of the travel industry by creating a dynamic new market for consumer and suppliers. PTVL provides direct to consumer service that leverages the powerful home-based business concept with the travel industry. The company offers one of the most unique and comprehensive independent travel agent training packages in the travel industry, and currently has nearly 8,000 Independent Travel Agents nationwide.

This news release contains forward-looking statements. These statements describe management's beliefs and expectations about the future. We have identified forward-looking statements by using words such as "expect," "believe," and "should." Although we believe our expectations are reasonable, our operations involve a number of risks and uncertainties, and these statements may turn out not to be true. More detailed information about Pro Travel Network, Inc. is available in the Company's public filings with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Ron Huffman
    559-224-6000