myFreightWorld Technologies Announces 40% Increase in Revenues
May 17 2010 - 3:12PM
Marketwired
myFreightWorld Technologies (PINKSHEETS: MYFT) announced today that
managed revenues for 1st quarter of 2010 increased by over 40% from
1st quarter of 2009 resulting in a 45% increase in net margin for
the same period.
CEO Mike Head released the following statement: "I am pleased
with the results from our last and final quarter operating as ANYT.
Our team and partners have ramped our technology and systems
required for an expected dramatic increase in revenues. We are
already experiencing substantial growth in this quarter from the
highest back-log of new business in the history of our company. We
have several new customers, including Freight Management Inc. and
Worldwide Logistics, whose programs are now operational, that were
not included in last quarter's revenues. The results from last
quarter's efforts have already established a strong increase in
managed revenues and are generating significant profits."
Mr. Head also commented: "I am pleased that we were able to
manage our expenses during this period of rapid growth and
expansion. I expect to release an update on other important matters
such as the AGO and ABOL dividend distribution as well as our
report on the fully-audited status within days."
Notice on Forward-Looking Statements
myFreightWorld's vision is to realize shareholder value and
wealth through monetization of its projects and potential
discoveries through partnerships with significant players with
ready capital and production expertise. The matters set forth in
this press release may contain forward-looking statements regarding
myFreightWorld and its business within the meaning of the "safe
harbor" provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements speak only as of the date on
which they are made and myFreightWorld undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events, or otherwise.
Statements are subject to risks and uncertainties that may cause
actual results to differ materially. These risks are detailed from
time to time in the company's periodic reports filed with the
Securities and Exchange Commission including the company's Annual
Report, Quarterly Reports and other periodic filings.
For Information Contact: myFreightWorld email: Email
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