Invicta Group Increases Fourth Quarter Revenue in 2009 by Over $2,000,000 From Fourth Quarter in 2008
February 16 2010 - 9:00AM
Marketwired
Invicta Group Inc., (http://www.ivitgroup.com) (PINKSHEETS: IVIT)
is pleased to announce the results of Operations for the Three
Months Ended December 31, 2009 Compared to the Three Months Ended
December 31, 2008.
Revenues for the three months ended December 31, 2009 ("Fourth
Quarter 2009") were $2,344,960 compared with $277,897 for the three
months ended December 31, 2008 ("Fourth Quarter 2008").
This represents an increase of $2,067,063 or a 744% increase
from the revenues recorded in the Fourth Quarter 2008. The increase
is due primarily to our efforts in bringing in new projects and
adding on additional products and services which helped increase
our overall revenue.
The total assets of the Invicta Group as of 12/31/09 were
$2,781,010 compared to $116,602 as of 12/31/08. This represents an
increase of $2,664,408 in assets.
The net profit for the Fourth Quarter 2009 was $17,867 compared
with a net loss of $88,315 for the Fourth Quarter 2008, which
represents an improvement of $106,182. The improvement is the
result of management's efforts to evaluate and adjust the business
plans and projects.
CEO of the Invicta Group, Paul Sorkin, said, "We are very
pleased with the financial results for the Fourth Quarter. I am
proud of our team's efforts and execution. We have made a number of
substantial changes and completed some great additions during the
last year. We have improved the quality of our team tremendously,
built a solid foundation, and have positioned ourselves to continue
to add more projects and potential revenues to improve our overall
numbers. We have completely turned things around and are actively
seeking acquisitions of businesses that are synergistic with our
business plan and, at this time, we are in negotiations with
several companies that we have targeted for acquisition or joint
ventures. We will continue to evaluate all current and future
opportunities to allow us to grow and improve our bottom-line and
the shareholder value. Our philosophy is to share as many resources
as possible and utilize the economies of scale to help improve our
efficiencies and overall numbers as we grow. Our shareholders are
the lifeblood of our Company and we want to explore every avenue to
build our Company and maximize the shareholder's value."
About Invicta Group, Inc.
INVICTA GROUP, Inc. (PINKSHEETS: IVIT) 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.
Media Contact info@IVITgroup.com Investor Relations Contact
1-312-473-5234 info@IVITgroup.com