![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Thursday, November 11, 2010 10:56:14 AM
-- Gross Margin increased from 11.8% to 15.4% representing an increase of 30.4% from the prior year.
-- Selling, General and Administrative Expenses decreased by 32.2% which represent a reduction of approximately $1.15 million from the same period last year.
-- Interest Expenses decreased by 50% as compared to the same quarter last year.
-- Cash used in operations was $113,000 for this quarter versus cash provided by operations of $1,378,000 for the prior quarter while reducing the net loss from the prior quarter by $5,325,000 to $1,979,000.
-- The Company has successfully negotiated an interim repayment plan regarding past due taxes with the IRS.
"The Company is now transitioning into profitability," stated Edmond Lonergan, Green Planet Group CEO. "Even though the staffing industry has seen a reduction in business activity of approximately 40%, and Lumea's revenues were similarly impacted, Gross Margins increased by 30% primarily because we terminated low margin clients. S, G & A expenses also improved substantially which reflected our efforts to reduce overhead, close unprofitable locations and improve overall efficiency," continued Mr. Lonergan. "In addition, the projected revenues from our high tech, fuel efficiency and emission reducing technologies will begin to positively impact Green Planet's revenues in September and subsequent months."
Mike
FEATURED BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • Jul 2, 2024 7:19 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM