Stratus Services Group, Inc. Reports Profitable Results for Three Months Ended June 30, 2006
Thursday August 17, 10:36 am ET
MANALAPAN, N.J., Aug. 17, 2006 (PRIMEZONE) -- Stratus Services Group, Inc. (OTC BB:SSVG.OB - News), the SMARTSolutions(tm) Company (the ``Company'' or ``Stratus''), a leading provider of technology staffing and technology productivity consulting today reported that the Company has returned to profitability and had net earnings attributed to common stockholders at $8,987 for the three months ended June 30, 2006. Revenues for the three months ended June 30, 2006 increased to $1,282,074 from $1,180,222 for the comparative 2005 quarter, an increase of almost 9%. Joseph J. Raymond, CEO commented, ``We believe the results of the June ending quarter validates that our new business model is working as planned. In just our first full quarter from ''transitioning`` our old model, we were able to post net profitability. We have done this with higher margin business and strict cost controls. It still remains imperative that we continue working with our creditors so that the Company has ample time to get healthy once again. Hopefully, our creditors will see that by staying the course, the healthier the Company gets, the better our position to satisfy the debt. However, the Company gives no assurances that favorable solutions can be worked out.'' |
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