Sales Volume for Concierge Technologies Subsidiary Continues Growth
SAN FRANCISCO, Nov. 16, 2012 /PRNewswire/ -- Concierge Technologies, Inc. (OTCBB: CNCG) completed the filing of its quarterly financial report as of September 30, 2012 and discloses that its majority owned subsidiary, Wireless Village dba/Janus Cam (formerly known as 3rd Eye Cam www.januscam.com ) continued to make steady growth in sales volume and profits over the prior year's performance. Revenues for the three-month period ending September 30, 2012 were $624,577 compared with $276,777 for the same three month period in 2011. Gross profit was also up 4% when compared to the prior year period ending September 30, 2011. When taken as a separate business unit, Wireless Village earned a net profit of approximately $52,700. Overall, there was a net loss in consolidated operations of approximately $37,200 due to expenses incurred by Planet Halo, a wholly owned subsidiary of Concierge engaged in product research and development, and the retirement of debt and payment of expenses associated with year-end auditing incurred by Concierge.
David Neibert, C.E.O. of Concierge, states "We are happy with the first quarter performance of Janus Cam, and the continued growth over last year further confirms that we are on the right path. The team at Janus Cam have worked hard to increase not only product visibility in the marketplace but also the recognition from regulatory agencies and fleet insurers of the importance of our product as a deterrent to crime, a valuable management tool, and a proven mechanism to reduce insurance claim payouts. We have reinvested a significant portion of our gross profits into ongoing product research and development, marketing, trade show attendance and other such actions to help insure our continued status as a major vendor in the space as well as sustainability going forward. Our management feels the upfront investments that will reduce our net profits in the short term will provide significant rewards in the long term."
The statements contained in this press release that are not historical facts are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of our future performance, acquisitions or dispositions of interests, debt obligations, additional financing requirements, the effect of economic conditions generally and in the communications and information technology markets specifically, and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. These and other factors may cause actual results to differ materially from those projected.
For further information contact:
SOURCE Concierge Technologies, Inc.