SupportSave Solutions, Inc. Reports 116% Increase in Consecutive Quarter Net Income
* Reuters is not responsible for the content in this press release.
Total Revenue Grows 58% From Previous Quarter
Hires Sales Executives and Expands Facilities During Quarter to
Meet Increasing Demand for Services
ALAMO, Calif.--(Business Wire)--
SupportSave Solutions, Inc. (OTCBB: SSVE, www.supportsave.com), a
provider of Business Process Outsourcing (BPO) services in the
Philippines, reports its financial results for the quarter ended
February 29, 2008. The company was incorporated on May 2, 2007, and
thus the results for the quarter ended February 29, 2008 are compared
with the quarter ended November 30, 2007.
Highlights for the consecutive quarter results are as follows:
-- Net income increased 116% to $86,807 for the three months
ended February 29, 2008, as compared with $40,278 for the
three months ended November 30, 2007.
-- Operating income increased 117% to $114,738 for the three
months ended February 29, 2008, as compared with $52,809 for
the three months ended November 30, 2007.
-- Total revenue increased 58% to $332,909 for the three months
ended February 29, 2008, as compared with $211,305 for the
three months ended November 30, 2007.
-- Net margins (net income as a percentage of total revenue)
increased to 26.08% for the three months ended February 29,
2008, as compared with 19.06% for the three months ended
November 30, 2007.
Christopher Johns, CEO of SupportSave, Commentary
"This quarter was highlighted by not only tremendous revenue
growth, but also a significant reduction in operating expenses. We
were able to more than double our net income and increase our net
margins substantially. SupportSave caters to the needs of small to
mid-size businesses, entities often neglected by larger BPO providers.
We believe that our tremendous growth validates our position in an
underserved, niche market.
"Over the course of the third quarter, we continued our efforts to
add clients and establish partnerships. In January, we strengthened
our relationship with telecommunications provider 8x8, Inc.,
contracting to utilize their network to facilitate our expansion. We
also augmented our customer base throughout the quarter. SLM Holdings,
Inc., a customer relationship management (CRM) service provider,
became one of our largest clients, hiring twenty full-time employees
in late January to increase operational efficiencies. As the U.S.
economy enters a period of instability and possible recession, more
and more businesses will be looking for ways to streamline their
operations and reduce expenses.
"Our top-line growth this quarter can be attributed to a number of
events. In the beginning of the quarter, we moved our operations to a
larger facility to support the increased demand for our services. We
now reside in a facility in Cebu, Philippines that is able to
accommodate 420 employees per shift. Secondly, we established
marketing initiatives by hiring two full-time sales executives to
increase our exposure in the United States and around the world. We
continue to see a growing market for our services and moving forward,
we are dedicated to providing quality service to each and every one of
our clients.
"We also significantly reduced our operating expenses during the
last quarter, contributing to our increased bottom line. As we
continue to grow and expand our footprint, we are able to increase our
economies of scale, resulting in the significant increase in net
margins achieved this quarter.
"Overall, we exceeded expectations this quarter and are very
pleased with the progress we made."
-0-
*T
Income Summary
----------------------------
Three Months Ended Three Months Ended
February 29, 2008 November 30, 2007
------------------------------------------
REVENUE
Sales $338,540 $214,275
Less returns and
Allowances (5,631) (2,970)
--------------------- --------------------
TOTAL REVENUE 332,909 211,305
EXPENSES
Operating Expenses 218,171 158,496
--------------------- --------------------
OPERATING INCOME 114,738 52,809
OTHER INCOME (EXPENSE)
Interest Income 1,619 869
Federal Income Tax (29,550) (13,400)
--------------------- --------------------
NET INCOME $86,807 $40,278
===================== ====================
*T
About SupportSave, Inc.
Based in Alamo, California, SupportSave offers offshore
outsourcing services from its American-managed facilities in the
Philippines. For just $897 per month each, SupportSave provides a
full-time dedicated employee or team of employees with the skills
required. The employee(s) will have excellent English skills with
almost no accent. SupportSave can provide dedicated employee(s) in any
of the following fields: customer service, technical support,
administrative support, legal, accounting, engineering, virtual
assistant, sales, telemarketing, programming, and more. Business
Process Outsourcing (BPO) SupportSave is the pioneer in low-cost
outsourcing. For more information about SupportSave Solutions, Inc.
please visit our website at http://www.SupportSave.com
Safe Harbor Statement
This press release may contain forward looking statements that
involve risks and uncertainties, including statements regarding our
business strategy and development plans, plans for entering into new
businesses, anticipated sources and uses of funds and other statements
regarding our plans, objectives, expectations and intentions that are
not historical facts. Because these forward-looking statements involve
risks and uncertainties, actual results could differ materially from
those discussed in this press release. These risks and uncertainties
are described in greater detail in the reports that we file with the
Securities and Exchange Commission. Our actual results, performance or
achievements may vary materially from those expressed or implied in
any forward-looking statements. All forward-looking statements reflect
our beliefs and expectations as of the date of this press release and
should not be relied upon as representing our views as of any
subsequent date. While we may elect to update these forward-looking
statements publicly at some point in the future, we specifically
disclaim any obligation to do so, whether as a result of new
information, future events or otherwise.
The Investor Relations Group
212-825-3210
Investor Relations:
Michael Crawford
mcrawford@investorrelationsgroup.com
or
Brett Foley
bfoley@investorrelationsgroup.com
or
Emily Hanan
ehanan@investorrelationsgroup.com
or
Media Relations:
Laura Colontrelle
lcolontrelle@investorrelationsgroup.com
Copyright Business Wire 2008
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.


Follow Reuters