From Toodles: Univec has been unprofitable for
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Posted On: 03/13/2024 10:31:11 AM
From Toodles:
Univec has been unprofitable for almost 30 years
It could actually be longer, but only paper records exist prior to 1996. Dalton became CEO of UNVC in 2002 and you can see reported revenues dramatically increased in 2003, unfortunately this was when he was caught illegally cross-invoicing between his own companies - for example, in 2004 PPSI invoices accounted for 99% of all sales - notice how the revenues fall off a cliff thereafter, and have never recovered.
1996 - $1.44m loss on $461k of revenues
1997 - $1.17m loss on $2.4m of revenues
1998 - $1.89m loss on $1.8m of revenues
1999 - $1.16m loss on $3.3m of revenues
2000 - $1.5m loss on $3.0m of revenues
2001 - $893k loss on $3.1m of revenues
2002 - $505k loss on $2.8m of revenues
Dalton became CEO
2003 - $1.48m loss on $16.1m of revenues
2004 - $1.72m loss on $19.4m of revenues
Dalton ends cross invoicing
2005 - $1.69m loss on $81k of revenues
2006 - $1.04m loss on $21k of revenues
Dark Period
2018 - $978k loss on $14k of revenues
2019 - $1.11m loss on $14k of revenues
2020 - $1.17m loss on $14k of revenues
2021 - $1.34m loss on $53k of revenues
2022 - $2.66m loss on $33k of revenues
If you can't make a profit in almost 30 years, and have had no new business developments in more than two decades - it's time to question the validity and viability of both the business itself - and in particular, those at the helm.
Univec has been unprofitable for almost 30 years
It could actually be longer, but only paper records exist prior to 1996. Dalton became CEO of UNVC in 2002 and you can see reported revenues dramatically increased in 2003, unfortunately this was when he was caught illegally cross-invoicing between his own companies - for example, in 2004 PPSI invoices accounted for 99% of all sales - notice how the revenues fall off a cliff thereafter, and have never recovered.
1996 - $1.44m loss on $461k of revenues
1997 - $1.17m loss on $2.4m of revenues
1998 - $1.89m loss on $1.8m of revenues
1999 - $1.16m loss on $3.3m of revenues
2000 - $1.5m loss on $3.0m of revenues
2001 - $893k loss on $3.1m of revenues
2002 - $505k loss on $2.8m of revenues
Dalton became CEO
2003 - $1.48m loss on $16.1m of revenues
2004 - $1.72m loss on $19.4m of revenues
Dalton ends cross invoicing
2005 - $1.69m loss on $81k of revenues
2006 - $1.04m loss on $21k of revenues
Dark Period
2018 - $978k loss on $14k of revenues
2019 - $1.11m loss on $14k of revenues
2020 - $1.17m loss on $14k of revenues
2021 - $1.34m loss on $53k of revenues
2022 - $2.66m loss on $33k of revenues
If you can't make a profit in almost 30 years, and have had no new business developments in more than two decades - it's time to question the validity and viability of both the business itself - and in particular, those at the helm.
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Hambone....