subject: Zurvita Holdings Announces Net Profit of $370k (OTCBB: ZRVT) [print this page] Zurvita Holdings Announces Net Profit of $370k (OTCBB: ZRVT)
Yesterday, Zurvita Holdings announced record revenues for the third quarter of 2010. The company logged a net profit of $370,000 compared to a net loss of $1.2 million in the same period last year. Gross margin was 34% compared to 32% last year as well. Revenue for the third quarter increased by 47% to $1.7 million. ZRVT completed the third quarter with cash and cash equivalents on hand of $562,000.
The third quarter's success was attributed to an increased sales force which received higher revenue traction on local search engine directories, advertisement sales and commissions from energy sales. Further revenues were gained through online management assets and tool fees. Mark Jarvis commented on the company's success stating that he expect the current growth trend to continue throughout the year, noting the success of the Freedom Crusade conference in Houston with 650 individuals in attendance. No specific monetary guidance for the remainder of 2010 was given. Zurvita Holdings will also be appearing in Orlando, Florida on July 22nd through July 24th for the Champions Weekend conference. The Co-CEO also stated that ZRVT will be constantly developing new consulting services to adapt to an increasingly difficult market.
In case you are unfamiliar with Zurvita Holdings, the company is based in Houston, Texas and is headed by two CEO's Mark Jarvis, and Jay Shafer. The CFO for the company is Jason Post. ZRVT engages in direct to consumer marketing. Products include: residential energy rate plans, healthcare benefits, discount benefits for consumer goods, legal assistance, home warranty, restoration services for identity theft and consumer credit. With diverse revenue streams, a number of products and an increased demand for energy, ZRVT continues to rake in the cash, banking on custom tailored consultant work.
Currently, Zurvita Holdings is trading at .39 up .14 or 56% on an almostlow volume of 750 trades.
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