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Trucept Inc. Files Year-End Report For 2016
Trucept Inc. Files Year-End Report For 2016.
About this update from Afinida, Inc.
[{"type":"text","content":"\n\n\n\nTrucept Inc. Files Year-End Report For 2016\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 Report For 2016\nNet income of $3.8 million - increase of 534 percent over prior year\nPR Newswire\nSAN DIEGO, Feb. 23, 2017\n\n\n\nSAN DIEGO, Feb. 23, 2017 /PRNewswire/ -- Trucept Inc. (OTC Pink: TREP) has filed its year-end report for 2016. The Company earned a net income of approximately $3.8, an increase of 534 percent over the prior year. \n\nCEO Brian Bonar said he is delighted with the company's performance which continues to meet and exceed internal plans. While the company has reduced gross sales, it has also reduced operating expenses by $1 million. Gross profit increased by $630 thousand.\n\nBonar said he is also pleased to report that the company, for its second consecutive year, is current on all payroll tax liabilities for 2016. The company will focus on increasing profitability by reducing operating expenses rather than sales growth. \n\nThe company reduced its total liabilities by $6 million in 2016.  Management has and will continue to outsource repetitive and labor-intensive functions that will reduce payroll and ensure prompt payment of trust fund liabilities, Bonar 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 plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance m...