SOURCE: Thinkpath, Inc.

July 17, 2007 11:00 ET

Thinkpath Announces Preliminary Six Months Results; 20% Increase in Revenue to $8,025,000

Aggressive Marketing Strategy Key to Generating Added Revenues From Broad Customer Base of Global Clients, and New Client Wins

TORONTO--(Marketwire - July 17, 2007) - Thinkpath, Inc. (OTCBB: THPHF), a global leader in engineering and design services, announced revenues are up 20% for the six months ended June 30, 2007, to approximately $8,025,000, compared to $6,700,000 for the same period last year, based on preliminary results.

This revenue growth coincides with record contract awards during the first six months of 2007 totaling approximately $7,500,000, up 74%, from $4,300,000 for the same period last year. These contract awards have resulted in one of the strongest backlogs Thinkpath has enjoyed in many years. Final results are expected to be announced on or about August 15, 2007.

Thinkpath Chairman and CEO, Declan French, said, "The orders we have booked thus far in 2007 is confirmation of the new, aggressive marketing strategy management put in place late last year. We continue to pursue a number of other large proposals from many of our existing clients, and importantly, potential new clients. We expect to gain further sales momentum as we go forward. We also anticipate that the rapid increase in backlog, and revenues, will have a very positive impact on our margins. Our broad array of highest quality engineering services, supported by our dedication and commitment to our existing and new customers, are key to Thinkpath's future growth."

"Our revenue growth has created a backlog that is dynamic in nature. It permits us to better schedule resources, alleviating bottlenecks, and expands our workload with a non-crisis approach, which results in consistent and profitable billing scenarios," said John W. Kennedy, VP Business Development and Strategic Planning. "This enables Thinkpath to continue to successfully focus on controlled expansion within our core industries."

About Thinkpath

Thinkpath Inc. (OTCBB: THPHF) is a global provider of engineering design services and on-site engineering support. Customers include defense contractors, aerospace, logistics, healthcare, pharmaceutical and manufacturing companies, including Johnson and Johnson, Lockheed Martin, General Dynamics, Siemens, Federal Express, L-3 Communications, and Cummins Engines.

Thinkpath, positioned in growth industries, targets customers with growing revenues who require its specialized design services and engineering support. Thinkpath is poised to benefit from increased demand generated by these targeted industries, and customers, that increasingly rely on project engineering design and technical staffing services.

For over 25 years, Thinkpath has helped companies achieve success with design and engineering objectives from office design centers located in the US and Canada, and partner in India. Our vision is to build lasting partnerships with our clients by delivering cost effective, quality, project engineering services; thus allowing us national and international scope, a respected, public company and a significant player in the defense, medical devices, and material handling industries.

For further information click on www.thinkpath.com

SAFE HARBOR STATEMENT: Certain statements in this news release may constitute "forward-looking" statements within the meaning of section 21E of the Securities and Exchange Act of 1934. The Company believes that its expectations, as expressed in these statements are based on reasonable assumptions regarding the risks and uncertainties inherent in achieving those expectations. These statements are not, however, guarantees of future performance and actual results may differ materially. Some of the factors that may affect the forward-looking statements in this news release are the ability to grow our business, attract new or retain existing customers and/or professional staff, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; quarterly reports on Forms 10-QSB; and any reports on Form 8-K. Thinkpath, Inc. takes no obligation to update or correct forward-looking statements.

Contact Information


  • Contact:
    Michael Dodge
    ROI Group LLP
    39 Broadway
    NY, NY 10006
    212.495.0744
    mdodge@roiny.com

    Thinkpath Inc.
    Kelly Hankinson
    CFO
    416-622-5200