FRESNO, Calif., Nov. 20, 2008 (GLOBE NEWSWIRE) — Pro Travel Network, Inc. (OTC BB:PTVL.OB - News) (the “Company”) is pleased to announce its financial results for its first quarter of fiscal 2009, ended September 30, 2008. PTVL reported a 12% decrease in overall revenue, a slight 2% decrease in gross profit.
Total revenues for the quarter ended September 30, 2008 decreased 12% to $1,783,415 from revenues of $2,022,333 for the previous year. Operating expenses increased 106%, to $1,223,400, as compared to total operating expenses of $595,012 for the quarter ended September 30, 2007. Net loss applicable to common stock was $462,505 for the three months ended September 30, 2008, as compared to net income applicable to common stock of $145,894 for the three months ended September 30, 2007.
Tags: