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Invicta Group Increases First Quarter Revenue in 2010 by over $4,750,000 from First Quarter in 2009 and increases Gross Profit b
Date : 05/06/2010 @ 8:23PM
Source : PR Newswire
Stock : (IVIT)
Quote : 0.0006 0.0 (0.00%) @ 7:27AM
Invicta Group Increases First Quarter Revenue in 2010 by over $4,750,000 from First Quarter in 2009 and increases Gross Profit b
Invicta Group Increases First Quarter Revenue in 2010 by over $4,750,000 from First Quarter in 2009 and increases Gross Profit by over $650,000 for the Quarter
Invicta Group increases Net Profits by over $350,000
PR Newswire
CHICAGO, May 6
CHICAGO, May 6 /PRNewswire-FirstCall/ --
Invicta Group Inc., (http://www.ivitgroup.com) (Pink Sheets: IVIT) is pleased to announce the results of Operations for the Three Months Ended March 31, 2010 Compared to the Three Months Ended March 31, 2009.
Revenues for the three months ended March 31, 2010 ("First Quarter 2010") were $4,917,122 compared with $152,072 for the three months ended March 31, 2009 ("Fourth Quarter 2008"). That is an increase of $4,765,050 for the quarter.
Gross Profits for the three months ended March 31, 2010 ("First Quarter 2010") were $663,567 compared with $4,244 for the three months ended March 31, 2009 ("First Quarter 2009"). That is an increase of $659,323 for the quarter.
Net Income for the three months ended March 31, 2010 ("First Quarter 2010") was $300,915 compared with a loss of ($58,452) for the three months ended March 31, 2009 ("First Quarter 2009"). That is an increase of $359,367 in Net Profit for the quarter.
The total assets of the Invicta Group as of 03/31/10 were $3,454,457.
CEO of the Invicta Group, Paul Sorkin, said, "I was elected CEO of the Invicta Group in late June of 2008 and since that time we have completely turned this company around. We have been able to execute many of our business plans and I am very proud of our team. We finished Q1 2010 with almost $5,000,000 in revenues and substantial profits for the quarter. We are positioning ourselves for long-term growth and sustainability and we are continuing to evaluate a number of opportunities. The most popular current questions from shareholders are related to the convertible note structure, why the stock price and our market cap are so low, and what our future outlook is? To answer those questions for everyone, the convertible notes can be paid back in cash or stock. As for the stock price, some people like to use formulas based on current or future earnings or revenues so I can only suggest everyone does their own math and come up with their own opinions of what is a reasonable market cap. As for the future outlook, my vision has always been to create a solid foundation, with a quality team, where we could utilize shared resources to grow. We have accomplished that so far and it has helped us succeed so we will continue to create as many efficiencies as we can to help us improve. I believe in the experienced and quality team we have put together and I feel we are positioned very well to maximize all future relationships and opportunities to help this company report solid numbers for years to come."
About Invicta Group, Inc.
INVICTA GROUP, Inc. (IVIT.PK) is a full service multimedia management and marketing company. The Invicta Group is a conglomerate that utilizes shared resources to create synergies between their projects and companies and creates a lower cost of entry into the marketplace and almost instant start up capabilities for new products, services, and clients. www.IVITgroup.com
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plan, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Investor Relations and Media Contact
1-312-473-5234
info@IVITgroup.com
SOURCE Invicta Group, Inc.
Invicta Group Increases First Quarter Revenue in 2010 by over $4,750,000 from First Quarter in 2009 and increases Gross Profit b
Date : 05/06/2010 @ 8:23PM
Source : PR Newswire
Stock : (IVIT)
Quote : 0.0006 0.0 (0.00%) @ 7:27AM
Invicta Group Increases First Quarter Revenue in 2010 by over $4,750,000 from First Quarter in 2009 and increases Gross Profit b
Invicta Group Increases First Quarter Revenue in 2010 by over $4,750,000 from First Quarter in 2009 and increases Gross Profit by over $650,000 for the Quarter
Invicta Group increases Net Profits by over $350,000
PR Newswire
CHICAGO, May 6
CHICAGO, May 6 /PRNewswire-FirstCall/ --
Invicta Group Inc., (http://www.ivitgroup.com) (Pink Sheets: IVIT) is pleased to announce the results of Operations for the Three Months Ended March 31, 2010 Compared to the Three Months Ended March 31, 2009.
Revenues for the three months ended March 31, 2010 ("First Quarter 2010") were $4,917,122 compared with $152,072 for the three months ended March 31, 2009 ("Fourth Quarter 2008"). That is an increase of $4,765,050 for the quarter.
Gross Profits for the three months ended March 31, 2010 ("First Quarter 2010") were $663,567 compared with $4,244 for the three months ended March 31, 2009 ("First Quarter 2009"). That is an increase of $659,323 for the quarter.
Net Income for the three months ended March 31, 2010 ("First Quarter 2010") was $300,915 compared with a loss of ($58,452) for the three months ended March 31, 2009 ("First Quarter 2009"). That is an increase of $359,367 in Net Profit for the quarter.
The total assets of the Invicta Group as of 03/31/10 were $3,454,457.
CEO of the Invicta Group, Paul Sorkin, said, "I was elected CEO of the Invicta Group in late June of 2008 and since that time we have completely turned this company around. We have been able to execute many of our business plans and I am very proud of our team. We finished Q1 2010 with almost $5,000,000 in revenues and substantial profits for the quarter. We are positioning ourselves for long-term growth and sustainability and we are continuing to evaluate a number of opportunities. The most popular current questions from shareholders are related to the convertible note structure, why the stock price and our market cap are so low, and what our future outlook is? To answer those questions for everyone, the convertible notes can be paid back in cash or stock. As for the stock price, some people like to use formulas based on current or future earnings or revenues so I can only suggest everyone does their own math and come up with their own opinions of what is a reasonable market cap. As for the future outlook, my vision has always been to create a solid foundation, with a quality team, where we could utilize shared resources to grow. We have accomplished that so far and it has helped us succeed so we will continue to create as many efficiencies as we can to help us improve. I believe in the experienced and quality team we have put together and I feel we are positioned very well to maximize all future relationships and opportunities to help this company report solid numbers for years to come."
About Invicta Group, Inc.
INVICTA GROUP, Inc. (IVIT.PK) is a full service multimedia management and marketing company. The Invicta Group is a conglomerate that utilizes shared resources to create synergies between their projects and companies and creates a lower cost of entry into the marketplace and almost instant start up capabilities for new products, services, and clients. www.IVITgroup.com
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plan, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Investor Relations and Media Contact
1-312-473-5234
info@IVITgroup.com
SOURCE Invicta Group, Inc.
