Business
Trucept Inc. Files Year-End For 2015
Trucept Inc. Files Year-End For 2015.
About this update from Afinida, Inc.
[{"type":"text","content":"\n\n\n\nTrucept Inc. Files Year-End For 2015\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nTrucept Inc. Files Year-End For 2015\nReports gross revenues of $33 million; 10 percent increase over prior year\nNet income $603 thousand; 143 percent increase over previous year\nPR Newswire\nSAN DIEGO, March 31, 2016\n\n\n\nSAN DIEGO, March 31, 2016 /PRNewswire/ -- Trucept Inc. (OTC Pink: TREP) has filed its year-end report for 2015.\n\nCEO Brian Bonar said he is pleased with the company's performance and anticipates continued growth in 2016. \n\nThroughout 2015, the company actively restructured both products and offerings and made an aggressive reduction in expenses. These resulted in a 96 percent increase in gross profit over the previous year and a 18 percent reduction in expenses.\n\nThe efforts paid off handsomely, there was a net operating income of $293 thousand, which is 118 percent over the previous year.\n\n\"We anticipate maintaining steady sales growth, selling more profitable products and offerings,\" Bonar said. \n\nBonar also said that the company intends continued growth in PEO and staffing business lines. \"We intend to increase profitability by offering various insurance and other products and services to our co-employer and staffed clients, and we will continue to look for opportunities to grow organically where feasible as well as evaluate potential acquisition opportunities that may present themselves in the next 12 months,\" he said.\n\nTrucept Inc. relieves clients from business operations tasks, including payroll processing, human resources support, workers' compensation insurance, safety programs, employee benefits, and other administrative and aftermarket services predominantly related to staffing. It also offers employee and employer benefits and aftermarket products.\n\nSafe Harbor:\n\nStatements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and pla...