New York, NY – March 31, 2008 – INfe Human Resources, Inc. (OTC BB: IFHR) reported strong financial performance for 2007, achieving a 34% increase in revenue, a 28% increase in EBITDA and a higher gross margin. For fiscal year ended November 30, 2007, INfe Human Resources generated revenues of $8,603,150.
INfe Human Resources reports revenues were $8,603,150 for the fiscal year ended November 30, 2007, as compared to $6,407,963 for the fiscal year ended November 30, 2006. The increase in revenue demonstrates year-on-year growth of $2,195,187, or 34.2%. Gross margin improved to 18.2% from 16.8% while Earnings Before Interest and Taxes (EBITDA) from the consolidated staffing business was $308,785, an improvement of approximately 28% over the prior year’s $241,468.
INfe Human Resources CEO Arthur D. Viola commented: “2007 was a banner year for INfe Human Resources, with dramatic increases in revenue, margin and EBITDA. This year we continue to drive sales and improve profitability for our staffing subsidiaries by increasing margins, bringing prices in line with market value, cutting transportation expenses, enhancing sales capabilities, and cross selling new products via existing marketing pipelines.”
Mr. Viola continued: “We recorded a loss in our Daniels Corporate Advisory Company for public company expenses including accounting, legal, marketing and consulting. $750,000 of that $1 million was paid through the issuance of stock—these were non-cash expenses. As the company grows both the non-cash and cash expenses will be spread over additional sales as well as other acquisitions and merger partners. For year-end 2008 INfe Human Resources is on track to generate sales in the $10 million range.”
Contact
For further information about this release contact Rich Kaiser, Investor relations, YES INTERNATIONAL, 800-631-8127, www.ifhrinfo.com.
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This release may include forward-looking statements within the section 27A of the United States Securities Act 1933, as amended, and section 21E of the United States Securities and Exchange Act 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the analysis of opportunities in the acquisition and development of various project interests and other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ from those in the forward-looking statements contained herein.