SAN DIEGO, March 31, 2016 /PRNewswire/ -- Trucept Inc. (OTC Pink: TREP) has filed its year-end report for 2015.
CEO Brian Bonar said he is pleased with the company's performance and anticipates continued growth in 2016.
Throughout 2015, the company actively restructured both products and offerings and made an aggressive reduction in expenses. These resulted in a 96 percent increase in gross profit over the previous year and a 18 percent reduction in expenses.
The efforts paid off handsomely, there was a net operating income of $293 thousand, which is 118 percent over the previous year.
"We anticipate maintaining steady sales growth, selling more profitable products and offerings," Bonar said.
Bonar also said that the company intends continued growth in PEO and staffing business lines. "We intend to increase profitability by offering various insurance and other products and services to our co-employer and staffed clients, and we will continue to look for opportunities to grow organically where feasible as well as evaluate potential acquisition opportunities that may present themselves in the next 12 months," he said.
Trucept Inc. relieves clients from business operations tasks, including payroll processing, human resources support, workers' compensation insurance, safety programs, employee benefits, and other administrative and aftermarket services predominantly related to staffing. It also offers 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.
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SOURCE Trucept Inc.