PACEL Corp. (PCLO) Announces 33% Revenue Increase, 41% Operational Reduction Over Same Period in 2005
August 21 2006 - 9:30AM
PR Newswire (US)
CHARLOTTE, N.C., Aug. 21 /PRNewswire-FirstCall/ -- PACEL Corp.
(OTC:PCLO) (BULLETIN BOARD: PCLO) filed its 10QSB, for the quarter
ending June 30, 2006, on August 16, 2006. Second quarter results
show sustained improvement and growth. PACEL (PCLO) acquired United
Personnel Services, Inc. in March 2006, and World Wide Personnel of
Maine, Inc. in April 2006. A result of the purchase of World Wide
has significantly improved revenue and gross profit. Revenue for
the second quarter increased approximately 33% over the same period
in 2005, and even with the additional expenses in the acquired
companies operating expenses were reduced by 41% over the same time
period in 2005 and the bottom line has virtually a $1.4 million
improvement over the same time period in 2005. In May 2005, PACEL
(PCLO) restructured its internal operations. Under- performing
contracts were sold and administrative overhead was reduced. New
markets are opening for PACEL (PCLO) with these latest
acquisitions. Through its restructuring, PACEL (PCLO) has achieved
affirmative forward momentum and expects additional growth in Third
and Fourth Quarters. "After joining PACEL, we have now had time to
implement new procedures and growth models. This will allow our
management team and staff to expand the footprint of PACEL,
increase the availability of future acquisitions, and open new
market opportunities. I am confident that through these efforts,
PCLO is headed in the right direction, and we are looking to
provide increased shareholder value," stated Gary Musselman,
President/CEO of PACEL Corp. (PCLO) Cautionary Statement for the
Purpose of Safe Harbor Provisions of the Private Securities
Litigation Reform Act of 1995: Forward-looking statements in this
news release are made under the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Certain important
factors could cause results to differ materially from those
anticipated by forward-looking statements, including the impact of
competition, the success of existing and new product releases, the
management of our growth, and other factors discussed from time to
time in reports filed by the company with the Securities and
Exchange Commission. DATASOURCE: PACEL Corp. CONTACT: Gary
Musselman of PACEL Corp., +1-704-643-0676
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