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Pro Travel Network Announces Q3 Results for Fiscal `09
May 18, 2009 9:00:00 AM
2009 GlobeNewswire, Inc.


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View Additional ProfilesFRESNO, Calif., May 18, 2009 (GLOBE NEWSWIRE) -- Pro Travel Network, Inc. (OTCBB:PTVL) (the "Company") has released its unaudited financial results for its fiscal third quarter which ended March 31, 2009.

The Company had total revenues of $1,181,960 for that time period compared to revenues of $2,672,811 for the quarter which ended March 31, 2008. Gross profit was $602,477 compared to $1,104,167 for the same period last year. The company did experience a comprehensive loss of $94,981 for the third quarter compared to a comprehensive gain of $241,088 for the third quarter of 2008. As a result, earnings per share for the third quarter were $0.00 compared to earnings of $0.01 per share for the third quarter of 2008.

Pro Travel Network President & CEO Mr. Paul Henderson commented, "The first three months of this year were not only challenging for our company, but for the nation as a whole. Financial markets were under incredible stress and while some were looking for a bailout, we were looking for growth opportunities."

The company's overall business strategy of no long term debt has served the Company well in economic down times. Mr. Henderson added, "We know there are business cycles and by having no long term debt, we can weather the storm and be well-positioned for growth opportunities in the future. As a result our current assets exceed current liabilities by more than a two to one margin; we've maintained our no long term debt status, and we are poised to take advantage of new opportunities which we hope to announce in the coming quarter."

About Pro Travel Network

Pro Travel Network is an emerging growth direct to consumer service business leveraging the powerful home-based business concepts with the travel industry. The company offers one of the most unique and comprehensive independent travel agent training packages in the travel industry, and currently has nearly 12,000 Independent Travel Agents nationwide.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The OTC Bulletin Board has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

For more information, please review the company's filings with the Securities & Exchange Commission (http://www.sec.gov/cgi-bin/browse-edgar?company=pro+travel&CIK=&filenum=&State=&SIC=&owner=include&action=getcompany).

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although Pro Travel Network, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by Pro Travel Network, Inc. or any other person that the objective and plans of Pro Travel Network will be achieved.

CONTACT: AGORACOM Investor Relations
[e-mail]
www.agoracom.com/IR/ProTravelnetwork