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Smart-Tek Solutions, Inc. Projects Gross Revenues of $10 Million for January & February 2010
Feb 26, 2010 (03:02 PM EST)
NEWPORT BEACH, Calif., Feb. 26 /PRNewswire-FirstCall/ -- Smart-Tek Solutions, Inc. (OTC Bulletin Board: STTN) has announced today that its gross revenues for January and February 2010 consolidated will be approximately $10 million. Based on this sales rate, the revenues for the March quarter should reflect a 15 percent increase compared to the quarter ending December 31, 2009. This increase reflects actual sales in January and February 2010 and projected revenue in March 2010.
Perry Law, CEO of Smart-Tek Solutions, Inc., states, "We are very pleased with the progress of our new business venture and are optimistic that the continuing performance during 2010 will be strong. Smart-Tek Solutions' current product offering also provides a time and attendance feature that will be utilized within our PEO business segment."
The beginning of the year is traditionally a time of change for PEOs, as most experience some level of attrition. It appears that Smart-Tek Automated Services, Inc.'s sales have not been impacted by this customary shift in the marketplace. "We are pleased with our performance so far this quarter and are confident that as the economy continues to recover, that our overall sales activity will continue to increase as well," said Brian Bonar, President and CEO of Smart-Tek Automated Services, Inc.
About Smart-Tek Solutions, Inc.:
Smart-Tek Solutions, Inc. is the parent technology holding company and radio-frequency identification (RFID) software/hardware development company providing turnkey state of the art RFID systems.
About Smart-Tek Automated Services, Inc.:
Smart-Tek Automated Services, Inc. provides financial services to small and medium-size businesses, relieving our clients from many of the day-to-day tasks that negatively impact their core business operations, such as payroll processing, human resources support, workers' compensation insurance, safety programs, employee benefits, and other administrative and aftermarket services predominantly related to staffing - staff leasing, temporary staffing and co-employment. It not only provides core services but a wide selection of employee and employer benefits and aftermarket products.
Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K for the year ended, and its subsequent filings with the SEC.
SOURCE Smart-Tek Solutions, Inc.