Green Planet Group Inc (GNPG)

[My4ntoy]

Nice GNPG News today - Green Planet Files First Quarter 10-Q
Date : 08/15/2011 @ 10:00AM
Source : GlobeNewswire Inc.
Stock : Green Planet Group, Inc. (GNPG)
Quote : 0.0377 0.0002 (0.53%) @ 4:02PM



Green Planet Group, Inc. (OTCBB:GNPG) announced today that it filed its first fiscal quarter Form 10-Q with the Securities and Exchange Commission (SEC) earlier today. The highlights of the report are summarized below:

1.Net Sales from the quarter were $9.1 million.
2.Selling, General and Administrative expenses were further reduced by 11.7% reflecting the Company's continuing efforts to reduce costs while improving efficiency and productivity.
3.Depreciation and Amortization were reduced significantly because the Company wrote off all of the intangible assets at the end of the last fiscal year.
4.Cash provided from operations was $270,000 which represents an improvement of $383,800 over the prior year.
5.Total operating expenses were reduced to 22% from 26.7% from last year reflecting an improvement of 21%.
Edmond L Lonergan, President/CEO, stated, "Our first fiscal quarter for this year was very challenging and our overall performance reflected the general economy in the U.S. Revenues were flat and the impact of our new Xentx orders and Lumea acquisitions will not begin increasing revenues until September. During this quarter, we have expanded our sales and marketing efforts and they are just now beginning to positively impact our growth."

For more information, please visit: http://www.sec.gov/Archives/edgar/data/1372533/000107654211000098/p0822.htm
About Green Planet Group

Green Planet Group, Inc. (OTCBB:GNPG) is based in Scottsdale, Arizona and engages in ongoing research and development to create products and services that enhance our environment. The Company's revenues are currently derived from the production and distribution of fuel-based energy conservation and clean-air products, as well as through the placement of members of the growing ranks of the unemployed into meaningful "green collar" careers. For additional information, please visit www.greenplanetgroup.com.

SAFE HARBOR: Certain information included herein may contain statements that are forward-looking, such as statements relating to plans for future expansion and other business development activities. Such forward-looking information is subject to changes and variations which are not reasonably predictable and which could significantly affect future results.

CONTACT: E Relations Group, Inc.
623-255-5750