PTS, Inc. Reports 466% Improvement in 2006 Revenue over 2005
LAS VEGAS--(BUSINESS WIRE)--
PTS, Inc. (OTCBB:PTSH) has reported 2006 year-end unaudited revenue results as follows. Revenues for the year ending December 31, 2006, were $739,279. Compared with audited results of the same period in 2005, this represents a year-over-year improvement in PTS, Inc. revenues of $608,621 or 466%.
The increase is entirely attributable to revenue growth in Disability Access Consultants, Inc., a subsidiary of PTS, Inc. Revenue growth was attributable to the growing demand for Americans with Disabilities Act (ADA) compliance inspections. Based on existing commitments, the company expects to see further significant revenue growth through Disabilities Access Consultants, Inc. (DAC) activities in 2007.
Disabilities Access Consultants, Inc. was previously announced to be merged with Disability Access Corp. (Pink Sheets:DBYC), which is also a subsidiary of PTS, Inc., to be effective on January 2, 2007. On further consideration, the Board has reconsidered the structure and has decided, for various business optimization purposes, to instead of merging DAC with DBYC, to reconfigure the structure and have DAC become a wholly owned subsidiary of DBYC. The company will enjoy certain benefits from this restructure and avoid unnecessary expenditures for certain legal, accounting and other professional costs associated with a merger, while fulfilling the intent of the business enterprise to have its own trading symbol.
PTS, Inc. has previously announced a 1:3 dividend in DBYC shares to PTS, Inc.'s shareholders of record as of December 15, 2006. PTS, Inc. expects to distribute the aforementioned dividend by January 31, 2007.
About PTS, Inc.
PTS, Inc.'s subsidiary, Glove Box Inc. (www.ptspi.com), owns the rights to the patented, revolutionary Glove Box(TM), the only product that offers contamination reduction through automated glove dispensing. The Glove Box(TM) system is a free-standing dispenser of disposable latex gloves, which is being marketed by PTS in the United States and Asia.
About Disability Access Corporation
Disability Access Corporation (Pink Sheets:DBYC) conducts facility inspections, policy reviews and program analyses in addition to a comprehensive continuum of other compliance services. More than 54 million people in the United States have a disability, a number equal to 20% of the population. The Americans with Disabilities Act of 1990 requires all organizational entities, public or private, with more than 15 employees, to provide equal access for individuals with disabilities. It's estimated that there are more than seven million sites at risk across the United States. Please visit: www.adaconsultants.com.
Safe Harbor Statement:
Except for historical information contained herein, the statements in this news release are forward-looking statements that involve risks and uncertainties and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted results.
Source: PTS, Inc.
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