NEW YORK, Sept. 10, 2013 (GLOBE NEWSWIRE) -- Profit Planners Management, Inc. (OTCQB:PPMT) today announced financial results for the year ended May 31, 2013. Revenues for the year were $843,172, compared to revenues of $504,910 in the prior year, an increase of 67%. The increase in revenues is attributable to an increase in our customer base. Net loss for the fiscal year 2013 was $(102,412) as compared to a net loss of $(52,915) in the prior year. The increase in the net loss was primarily the result of increased personnel and administrative costs needed to facilitate our continued growth.
"Our focus continues to be on expansion of our practice areas and revenues," said Wesley Ramjeet, PPMT's CEO. "We are continuing to explore additional growth opportunities and intend to continue to grow both organically and by acquisition. We now operate in the following areas: management and advisory consulting; CFO, accounting and tax services; life and healthcare insurance services; and through our Organic Innovations subsidiary where we are developing new and innovative concepts. We have, in each of the past two years, issued a 100% stock dividend to our shareholders. We intend to continue to pay dividends to our shareholders, either from PPMT directly or through the spinoff of our subsidiaries," he added.
About Profit Planners Management, Inc.
Profit Planners Management, Inc. (OTCQB:PPMT) is a publicly traded company that provides management, financial, marketing and other professional services and business solutions . Members of our team have both public accounting and industry experience, and many of them have successfully started and operated their own companies. This expertise allows our team to understand and then implement what a company needs to achieve its business goals. For more information, visit: www.profitplannersmgt.com
This press release contains forward-looking statements including without limitation those about the Company's estimated revenue, earnings per share and future plans. All statements other than statements of historical fact made in this report are forward looking. In particular, the statements herein regarding industry prospects, future results of operations or financial position and the Company's dividend plans, are forward-looking statements. These forward-looking statements can be identified by the use of words such as "believes," "estimates," "could," "possibly," "probably," anticipates," "projects," "expects," "intends" "may," "will," or "should" or other variations or similar words. No assurances can be given that the future results anticipated by the forward-looking statements will be achieved. Forward-looking statements reflect management's current expectations and are inherently uncertain. Our actual results may differ significantly from management's expectations.
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