SKPN.OB Reports Financial Results for the Second Quarter
Just before the closing bell yesterday, SkyPostal Networks, Inc. announced its financial results for the second quarter of 2008. Sales for the 6 months ended June 30, 2008 totaled $4,532,113, which is a 16.5% increase over the same 6-month period ended the previous year. The company also reported that total tonnage handled increased 20% for the 6 months ended June 30, 2008 compared to the same period ended June 30, 2007.
Gross margins were 17.2% in the first half of this year, compared to 23.9% in 2007. “As with all international mail operators, the high fuel surcharges imposed by the airlines during the second quarter could not be immediately passed along to our contracted mail clients. With the increase in fuel surcharges upwards of 30%, we are exploring ways to recover some of these incredibly high surcharges which have been unprecedented in our industry,” commented Albert P. Hernandez, SkyPostal’s President and CEO.
Through the opening of a sort facility at Newark Airport and the recently signed agreement with DHL Global Mail, SkyPostal is expanding their mail delivery service to Europe. Another strategic development of the company is its introduction of a new service targeted at U.S. Internet marketers. The service will allow them to market their products to upscale LAC consumers by removing the costly risks of shipping by parcel post through the public UPU Public Postal Network.
Mr. Hernandez further added, “We anticipate being able to substantially grow SkyPostal in the second half through several targeted acquisitions, introduction of service to Europe, introduction of new mailing solutions to LAC for internet marketers and the roll out of our GPS-PDA units, which will provide SkyPostal with a decidedly unique advantage over the state-owned public postal networks by offering automatic confirmation of delivery on mail at a fraction of the cost charged by Express operators.”
AI
