REVENUE PRODUCING! PeopleString Corporate Update
Press Release Source: PeopleString Corporation On Wednesday April 6, 2011, 8:00 am EDT
RED BANK, NJ--(Marketwire - 04/06/11) - On March 31, 2011 PeopleString Corporation (OTC.BB:PLPE - News) filed its annual report announcing that revenues for the year ended December 31, 2010, were $2,652,418, a 258% increase over revenues of $741,888 earned in the year ended December 31, 2009. The increase in revenues was primarily due to a 680% increase in advertising and affiliate revenues on top of a 200% increase in services. Net earnings for the year ended December 31, 2010, were $52,644, as compared to a net loss of $338,014 for the year ended December 31, 2009. The $390,658 increase in net earnings was primarily attributable to gross margin expansion from 37% to 46% and increased revenues. Cash Flow for the year ended December 31, 2010, provided by operating activities and investing activities were $59,004, as compared to a use of $128,626 for the year ended December 31, 2009. The $187,630 increase in operating and investing cash flows was primarily attributable to increased net earnings. Working capital increased 21% to $300,595 on current asset growth of 37% to $613,236.
