PACEL Corp. (PCLO) Announces 33% Revenue Increase, 41% Operational Reduction Over Same Period in 2005advertisementRelated information E-mail this article Print-friendly versionStocks mentioned in this articlePACEL CORP(PCLO) Quote, Chart, News
All PRNewswire NewsCHARLOTTE, N.C., Aug. 21 /PRNewswire-FirstCall/ -- PACEL Corp. (OTC Bulletin Board: PCLO) filed its 10QSB, for the quarter ending June 30, 2006, on August 16, 2006. Second quarter results show sustained improvement and growth.
Related newsCan Rally Survive a Slow Summer Week? PACEL (PCLO) acquired United Personnel Services, Inc. in March 2006, and World Wide Personnel of Maine, Inc. in April 2006. A result of the purchase of World Wide has significantly improved revenue and gross profit.
Revenue for the second quarter increased approximately 33% over the same period in 2005, and even with the additional expenses in the acquired companies operating expenses were reduced by 41% over the same time period in 2005 and the bottom line has virtually a $1.4 million improvement over the same time period in 2005.
In May 2005, PACEL (PCLO) restructured its internal operations. Under- performing contracts were sold and administrative overhead was reduced. New markets are opening for PACEL (PCLO) with these latest acquisitions. Through its restructuring, PACEL (PCLO) has achieved affirmative forward momentum and expects additional growth in Third and Fourth Quarters.
"After joining PACEL, we have now had time to implement new procedures and growth models. This will allow our management team and staff to expand the footprint of PACEL, increase the availability of future acquisitions, and open new market opportunities. I am confident that through these efforts, PCLO is headed in the right direction, and we are looking to provide increased shareholder value," stated Gary Musselman, President/CEO of PACEL Corp. (PCLO)
Cautionary Statement for the Purpose of Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: Forward-looking statements in this news release are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by forward-looking statements, including the impact of competition, the success of existing and new product releases, the management of our growth, and other factors discussed from time to time in reports filed by the company with the Securities and Exchange Commission.
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Is this that old scam stock that used to be PCCE? I actually tripled up on that, knowing they would reverse split again soon. Their last reverse split was 6/15/06, so those clowns will probably do it again in a few months. Still, I might put an order in at .0001 since that strategy worked really well with PCCE. Definitely beware, though!
-------------------- I'm a dark horse, running on a dark race course.
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