Small Business Development Group, Inc. (OTC: SBDG)
First Quarter Result
May 13, 2014 (Saint Cloud, Florida) ? Small Business Development Group, Inc. (symbol: SBDG) announced today its March 31, 2014 quarterly results.
Production Partners Chemical (PPC) had total revenue of $4,903,618, which is up $2,015,056 as compared to March 31, 2013, an increase of 70%. These results are a direct result of the company?s efforts to diversify the customer base and increase revenues in other product lines. This initiative was launched in 2013. After the review of the March 2014 physical inventory, management determined that an inventory adjustment of ($252,617) was needed to properly report a discrepancy between actual and book amounts. During the next few months, the company will be implementing a more robust inventory control system to better serve PPC through the upcoming anticipated growth.
The gross profit margin increased throughout 2013 from 14% to 16%. This was due to the company?s increased sales volumes and the ability to make timely purchases of highly-discounted products. The company?s growth trend in the first quarter of 2014 reflected the same trend, showing a 19% gross profit margin.
Expenses for the first quarter were in line for the company with the exception of a one-time extraordinary item. Also there was the one-time write-down of the inventory.
Production Partners Chemical had an EBITDA loss of $165,989; however, the adjusted EBITDA, taking into account the one-time expense item and the inventory reevaluation, showed a positive $148,628 for the first quarter of 2014.
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Forward-Looking Statements:
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Small Business Development Group, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions the occurrence of unanticipated events or changes to future operating results.
About Small Business Development Group, Inc.
Small Business Development Group, Inc. is a holding company acquiring companies for its own portfolio, and is a strategic business solutions firm providing services to companies requiring cutting-edge financial advice in the area of corporate growth and exit strategies
For further information contact: Deb Sanderson, IL Media Management, Inc., Investor Relations (d.sanderson@sbdgp.com) (207)-209-2013