PTSH - revenue news
Tuesday, April 03 2007 8:58 AM, GMT-05:00
--------------------------------------------------------------------------------
PTS, Inc. Files 2006 Annual Report
Business Wire "US Press Releases "
LAS VEGAS--(BUSINESS WIRE)--
Management of PTS, Inc. (OTCBB:PTSH) today announced that it has filed its Annual Report on Form 10-KSB for the fiscal year ending December 31, 2006. Selected excerpts and highlights are as follows:
Total net sales and revenues were $781,886 for the year ended December 31, 2006 compared to $52,755 for the year ended 2005. This represents a 1,482% increase in total revenue.
Total G&A (general and administrative) expenses for the year ended December 31, 2006 increased by $631,459 to $1,625,406 for the year ended December 31, 2006 from $993,947 for the year ended December 31, 2005 representing a 163% increase. This increase is primarily attributed to the inclusion of the Disability Access Corporation (DAC) operations for the full 2006 fiscal year. We do not expect G&A expenses to increase substantially in the coming 12 months. We intend to focus on operating efficiencies, increasing revenues, and attaining profitability during this period.
"Needless to say, we are very pleased with the financial and operational performance and improvements made in the past year. With an increase of only (approx.) 163% in expenses, we were able to realize an increase in revenue of (approx.) 1,482%. This is a dramatic improvement from 2005 to 2006, and management is now confident to forecast that 2007 will be profitable," stated Peter Chin, CEO of PTS, Inc.
About PTS
PTS, Inc.'s subsidiary, Glove Box Inc. (www.ptspi.com), owns the rights to the patented, revolutionary Glove Box(TM), the only product that offers contamination reduction through automated glove dispensing. The Glove Box(TM) system is a free-standing dispenser of disposable latex gloves, which is being marketed by PTS in the United States and Asia.
About Disability Access Corporation (DAC)
Disability Access Corporation (Pink Sheets:DBYC) conducts facility inspections, policy reviews and program analyses in addition to a comprehensive continuum of other compliance services. www.adaconsultants.com.
Except for historical information contained herein, the statements in this news release are forward-looking statements that involve risks and uncertainties and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted results.
Source: PTS, Inc.
................... Nothing lasts forever ..................
