Paysign Inc (PAYS)

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3PEA Reports Third Quarter 2016 Financial Results


HENDERSON, Nev.­­(BUSINESS WIRE)­­ 3PEA International, Inc. (“3PEA” or the “Company”) (OTCQB:TPNL), a vertically integrated provider of innovative prepaid card programs and processing services for corporate, consumer and government applications, reported financial results for the third quarter ended September 30, 2016.

Q3 2016 Highlights

Third quarter 2016 revenue increased 38% to $2.81 million compared to $2.03 million in the same year ago quarter. Revenue for the nine months ended September 30, 2016 increased 24% to $7.36 million from $5.94 million for the same period last year.
Gross profit for the three months ended September 30, 2016 increased to $1.42 million compared to $1.10 million, in the same year ago quarter. Gross profit for the nine months ended September 30, 2016 increased to $3.68 million from $2.98 million for the same period last year.
Net income for the three months ended September 30,2016 was $480,429, or $.01 per share, compared to a net loss of $(2,612,296) or $(0.06) per share in the same year ago quarter. Net income for the nine months ended September 30, 2016 was $898,048 or $0.02 per share compared to a net loss of $(2,612,296) or $(0.06) per share in the same period last year.
3PEA expects current revenue and profitability trends to continue.