Cleveland, OH (PRWEB) May 17, 2012
SearchPath HCS Inc. (Pink Sheets: SRCP), announced that its fiscal 3rd quarter results showed a revenue increase of 16% over the prior quarter. As the company continues to move forward and strategically position itself for future growth following its restructuring, “We are beginning to see the positive impact of this process and remain confident in more significant long-term financial impact going forward,” said Thomas K. Johnston, President and CEO of SearchPath HCS. Overall there was a loss of $56,743 for the quarter.
“The impact of the restructuring is most evident in the 32% decrease in year over year revenue from the same quarter 2010. This is reflective of our strategic decision, as was the case last quarter, to not add any new franchise units until we complete the restructuring process. After eliminating franchisee fee income from 3rd quarter 2010, the impact to the total income is only about 6% this quarter. We expect that we should be able to begin adding new units in the coming quarter,” stated Johnston.
“We continue to position the company for very aggressive growth as we conclude our restructuring. We are bullish on our industry, our position in the industry, and our ability to capitalize on an improving economy,” continued Johnston.
About Search Path HCS, Inc.:
SearchPath HCS, Inc. is a diversified human capital solutions firm and the parent company of SearchPath International, Inc. http://www.searchpath.com.
SearchPath is a one of the premier, vertically-integrated providers of Headhunting Services in the world. SearchPath International has redefined the way clients do business with Headhunters by implementing a client-centric approach that combines proven industry best practices and revolutionary concepts.
Safe Harbor Statement:
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company and SPI set forth herein and those preceded by or that include the words ``believes,'' ``expects,'' ``given,'' ``targets,'' ``intends,'' ``anticipates,'' ``plans,'' ``projects,'' ``forecasts'' or similar expressions, are “forward-looking statements”. Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. The Company assumes no obligation to update any of the information contained or referenced in this press release.
Source: SearchPath HCS, Inc.