PACEL Corp. 10Q Demonstrates Continued Improvement
23 5월 2006 - 12:33AM
PR Newswire (US)
CHARLOTTE, N.C., May 22 /PRNewswire-FirstCall/ -- PACEL Corp.
(OTC:PCCE) (BULLETIN BOARD: PCCE) filed its first quarter 10QSB,
for the quarter ending March 31, 2006, on May 19, 2006. First
quarter results show continued improvement started in 2005. PACEL
acquired United Personnel Services, Inc. in March 2006 and closed
the acquisition of World Wide Personnel of Maine, Inc. effective
April 1, 2006. Results of the purchase of World Wide will show
further improvement in the second quarter of 2006. Gross Profit for
the first quarter increased approximately 13%, operating expenses
were reduced by 34% and the bottom line has a virtually a $1
million improvement over the same time period in 2005. In May 2005,
PACEL significantly restructured its internal operations. Several
underperforming contracts were sold and administrative overhead was
significantly reduced. First quarter results for 2006 clearly
demonstrate the positive impact of this restructuring. "PACEL
results and direction are clearly improved over a year ago," stated
Gary Musselman, President/CEO of PACEL Corp. "Our management team
and staff are committed to expanding and growing PACEL both
organically and with future acquisitions. We are confident the
company is headed in the right direction and that we will continue
to show improvement." 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. DATASOURCE: PACEL Corp. CONTACT: Gary Musselman of
PACEL Corp., +1-704-643-0676
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