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Author Topic: PKCY - "a sleeper stock"
steelman
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Here is a "sleeper" stock that is getting ready to report it's latest annual earnings statements. Their last report, showed no profits, and the company has continued to reduce debt, and I believe will show quite a profit in the next statement (which should come out in October). This may be one to watch in the next couple of weeks. Park City is a software development company serving clients such as Home Depot, Grocery stores, convenience stores, and a cookie mfg. They have good potential.

Park City Group Focuses on New Revenue Channels With New President, James D. Horton, Long-Time Retail Industry Leader

PARK CITY, Utah, Oct 6, 2004 (BUSINESS WIRE) -- Park City Group, Inc. (PKCY) announced today that James D. Horton has joined the Company as its President and Chief Operating Officer. Mr. Horton was most recently a Vice President and senior officer of Kurt Salmon Associates, an international management consulting firm to the retail, consumer products and health care industries.

"Prior to my appointment, I had a chance to do in-depth analysis of Park City Group," states Horton. "I can foresee the possibility of making this a $25-30 million company in just a few years. I believe this is achievable and my personal investment in the Company is demonstration of my commitment and confidence in the growth possibilities for Park City Group."

"As we look at the anticipated growth of the Company going forward, it is now crucial that we focus on our sales and strategic alliance execution and Jim will bring that to our organization," states Randy Fields, CEO and Chairman of Park City Group.

Mr. Horton has extensive experience in the retail industry. He began his career with Ernst and Young consultants, was the National Director of Retail consulting for KPMG and most recently was a senior partner and the director of the retail practice at Kurt Salmon Associates. "I view my responsibilities to be threefold -- first and foremost my primary objective is to focus on improving the top line growth of the Company. All other actions will flow from this objective," explains Horton. "Second, I will be defining and managing business development channels. This plan will identify managers who will be directly responsible for channel development as well as their results. While the Company has a few relationships today, we will focus on improving those as well as adding new channels that must be synergistic business partnerships.

"Third and certainly critical to our business success is a renewed emphasis on working with existing customers to ensure we are meeting their needs and that our software is and will continue to provide business value. Whether it is new software or additional operational consulting, we will be very focused on the most important part of our business, our customers."

Demonstrating significant business experience, Horton's resume includes being the President of World Wide Chain Store Systems, a retail/wholesale distribution application software company that has been installed in many of the largest retail and wholesale companies today. Additionally his more than 25 years of experience in the retail industry coupled with both a BS in Accounting and MBA from West Virginia University, has allowed Horton to be a featured presenter in worldwide industry conferences at the Food Marketing Institute, the National Retail Federation, and the International Business Leaders Advisory Council.

"Park City Group, leveraging its retail domain expertise has seen recent successful customer results from the use of Fresh Market Manager," states Bernie Brennan, member of the Park City Group Board of directors as well as being a director of other retail related software companies. "The addition of Jim Horton with his extensive consulting experience in grocery and Consumer Product Groups as well as software, will position the Company for meaningful growth."

About Park City Group

Park City Group, Inc. develops and markets patented computer software that helps its retail customers to increase their sales while reducing their inventory and labor costs: the two largest, controllable expenses in the retail industry. The technology has its genesis in the operations of Mrs. Fields Cookies, co-founded by Randy Fields, CEO of Park City Group, Inc. Industry leading customers such as The Home Depot, Victoria's Secret, The Limited, Anheuser Busch Entertainment and Tesco Lotus benefit from our software. Feel free to contact us (Media Contact Randy Fields) at 800-772-4556 or info@parkcitygroup.com. To find out more about Park City Group (PKCY), visit our website at www.parkcitygroup.com.

Statements in this press release that relate to Park City Group's future plans, objectives, expectations, performance, events and the like are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these statements. Those factors could include changes in economic conditions that may change demand for the Company's products and services and other factors discussed in the "forward-looking information" section and the "risk factor" section of the management's discussion and analysis included in the Company's report on Form 10-K for the year ended June 30, 2003 filed with the Securities and Exchange Commission. This release is comprised of interrelated information that must be interpreted in the context of all of the information provided and care should be exercised not to consider portions of this release out of context. Park City Group uses paid services of investor relations organizations to promote the Company to the investment community. Investments in any company should be considered speculative and prior to acquisition, should be thoroughly researched. Park City Group does not intend to update these forward-looking statements prior to announcement of quarterly or annual results.

SOURCE: Park City Group, Inc.

Park City Group, Inc.Randy Fields, 800-772-4556info@parkcitygroup.com

Copyright (C) 2004 Business Wire. All rights reserved.


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Wallace#1
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I like this one as well. They appear to have a very good customer base which is most important.
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steelman
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Good News...PKCY released its financials...this may take a jump today.

Press Release Source: Park City Group, Inc.


Park City Group Reports Substantial Year-Over-Year Improvement in Its FY2004 Year End Filing
Thursday October 14, 6:45 am ET
Increased revenues and profitability and improved cash flow from operations continue trend of year-over-year improvements


PARK CITY, Utah--(BUSINESS WIRE)--Oct. 14, 2004-- Park City Group, Inc. (OTCBB:PKCY - News) announced today that it has filed its 10KSB for FY2004 ending June 30, 2004 and reports significant improvements in the business operations for the year. The Company reported revenues of $6.03 million as compared to FY2003 revenues of $5.35 million, an improvement of approximately 12.7% or $680,000. Also reported is a significant improvement in cash flow from operations of 270% where in FY2004, the Company reported approximately $67,000 as compared to $27,000 in FY2003. Equally as important to the improved operation of the Company is a reduction in operating expenses to $5.37 million from $8.14 million or approximately a 34% reduction over FY2003. The prior year comparisons are based on reported FY2003 year results with the one time write down for capitalization of software expenses of approximately $2.24 million.
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Additional highlights for the year include reduced liabilities by more than $1.45 million and the addition of the PAYGo (Pay-As-You-Go) monthly subscription model that resulted in accelerated new customer sales as demonstrated by the addition of Kwik Trip, WinCo Foods, Marvelous Market and Larry's Market. Additionally, the Company reported increases in recurring revenues from customers such as Wawa, Schnuck Markets, Pacific Sunwear of California and Price Chopper and it should be noted that these revenues from existing customers are recurring revenues, one of the Company's most important revenue sources.

"I am very pleased with our efforts in this past year to improve our operations by increasing revenues and reducing expenses," said Randy Fields, CEO and Chairman of Park City Group. "These efforts validated our plan to improve our balance sheet and increase our market penetration while controlling expenses. Simply put, it was a very good year. In our new fiscal year we expect the trend for our subscription based payment model (PAYGo) to accelerate.

"The impact of that acceleration would be to reduce revenue in the short term, but it also increases the total revenues and makes it much more predictable in the longer term. We are, needless to say, very, very proud of the efforts our team made this year. Our new president, Jim Horton, is already making substantial progress toward building an expanded sales organization and the market traction is absolutely increasing. I believe that FY2005 will show continued progress in both revenues and profitability."

While the Company did end the year with a decreased net loss of $(675,000) as compared to $(5,000,000) in the prior year, the net loss was approximately an 86.6% improvement over results of FY2003. "We look at our progress over the past two years and we are increasingly confident in our products and our efforts," continues Fields. "We have placed a significant emphasis on providing the products and services that will make our customers successful. This is especially crucial since our success is measured by our customers' success.

"We feel we are well positioned for FY2005. We have already signed a few new customers whose names we will be announcing in future news releases as they begin their product implementations," concludes Fields.

About Park City Group:

Park City Group, Inc. develops and markets patented computer software that helps its retail customers to increase their sales while reducing their inventory and labor costs: the two largest, controllable expenses in the retail industry. The technology has its genesis in the operations of Mrs. Fields Cookies, co-founded by Randy Fields, CEO of Park City Group, Inc. Industry leading customers such as The Home Depot, Victoria's Secret, The Limited, Anheuser Busch Entertainment and Tesco Lotus benefit from our software. Feel free to contact us (Media Contact Randy Fields) at 800-772-4556 or info@parkcitygroup.com. To find out more about Park City Group (OTCBB:PKCY, Berlin: WKN# 925919), visit our website at www.parkcitygroup.com.

Statements in this press release that relate to Park City Group's future plans, objectives, expectations, performance, events and the like are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these statements. Those factors could include changes in economic conditions that may change demand for the Company's products and services and other factors discussed in the "forward-looking information" section and the "risk factor" section of the management's discussion and analysis included in the Company's report on Form 10-K for the year ended June 30, 2003 filed with the Securities and Exchange Commission. This release is comprised of interrelated information that must be interpreted in the context of all of the information provided and care should be exercised not to consider portions of this release out of context. Park City Group uses paid services of investor relations organizations to promote the Company to the investment community. Investments in any company should be considered speculative and prior to acquisition, should be thoroughly researched. Park City Group does not intend to update these forward-looking statements prior to announcement of quarterly or annual results.

--------------------------------------------------------------------------------
Contact:
Park City Group, Inc.
Randy Fields, 800-772-4556
info@parkcitygroup.com



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steelman
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Has anyone been seeing the news and volume on PKCY? This one may break.
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