Centerline Reaches Profitability, Trending Toward Target $350K Per Month Net Profit
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--May 11, 2006--GlobeTel Communications Corp. (AMEX:GTE) announced that its Centerline Communications LLC subsidiary has reached profitability as of May 10. Given the second quarter performance and its trending, this places Centerline on a pace to exceed its $350,000 per month net profit by the end of June.
Timothy Huff, Chief Executive Officer of GlobeTel, stated, "Centerline has continued its transition from its low margin off-net traffic to its state of the art VoIP direct route network, which it continues to grow. This traffic has significantly increased margins of approximately 7%. Centerline not only provides bottom line profit to GlobeTel but also provides a low cost telecom component to our other business units. We have stated our short-term goals in the April 10 press release and remain confident we will reach these goals. Centerline's profitability is the first stepping stone in a long line of accomplishments that the company is striving for in the second and third quarters."
Say it ain't so.
