INfe Human Quarterly Financials Reflect Expanding Revenue
First Quarter Financials reflect a trend of growth and positive expansion for INfe. The 10Q filed with the SEC in April of 2007 reflects the following:
Revenue
Revenues were $1,644,044 for the three months ended February 28, 2007, as compared to $687,932 for the three months ended February 28, 2006. The increase of revenues was due to the Company emerging from the development stage and conducting operations in its staffing subsidiaries. The Company completed several staffing business acquisitions since December 2005.
Cost of Revenue
Cost of revenue was $1,340,275 for the three months ended February 28, 2007, as compared to $557,225 for the three months ended February 28, 2006. Gross profit was $303,769 for the three months ended February 28, 2007 compared to $130,707 for the three months ended February 28, 2006.
Operating Expenses
Operating expenses for the three months ended February 28, 2007 were $218,713 compared to $183,683 for the three months ended February 28, 2006. This increase was primarily attributed to the Company emerging from the development stage and conducting operations in its staffing subsidiaries. The Company’s largest expense is its compensation, which is generally associated with the staffing subsidiaries.
Income (Loss) From Staffing Operations
Income from operations of their staffing business for the three months ended February 28, 2007, was $85,056 compared to a loss of ($52,976) for the three months ended February 28, 2006.
INfe Human Resources has positioned itself in a growth industry with room for niche companies that staff high demand areas. Their first quarter financials indicate upward revenue trend. In the staffing business recruiters must produce or make an exit from the business. Their income is dependent upon their productivity. In essence this creates a positive outlook for cash flow in this type of commission based sales. INfe should find itself in a good cash flow position with the right recruiters in their staffing businesses.
Source: INfe Human Resources, Inc. and Business Week Online
For investor relations, contact:
Rich Kaiser – Yes International
Phone: (757) 306-6090
Website: www.ifhrinfo.com
Forward Looking Statement: All statements in this news release that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). While management has based forward-looking statements contained herein on current expectations, information on such expectations may change. Forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, which could cause actual results to materially differ from such statements.
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