This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Park City Group Reports Fiscal Year 2011 First Quarter Results

Park City Group, Inc. (NYSE Amex: PCYG), a Software-as-a-Service provider of unique supply chain solutions for retailers and their suppliers, today announced recent developments and financial results for the fiscal year 2011 first quarter ended September 30, 2010.

  • Subscription revenues increased to over $1.5 million in 1QFY11, up by 9% from prior year
  • Supplier “backlog” of approximately 300 at end of quarter
  • Retailer hubs at end of quarter were 26, up by 3 from June 30, 2010
  • Eighth consecutive quarter of positive non-GAAP EBITDA
  • Delivered positive non-GAAP net income and EPS before dividends
  • Continued positive operating cash flow and debt reduction
  • Common stock commences trading on NYSE Amex

Commenting on the financial results, Randall K. Fields, Park City Group’s Chairman and CEO, said, “In addition to the milestone of our national exchange listing, we are pleased to report that very meaningful progress was achieved for our business during the first quarter of fiscal 2011. Subscription revenues increased by 9%. We continued to generate positive operating cash flow and non-GAAP net income as well as reported our eighth consecutive quarter of positive adjusted EBITDA. Moreover, it is important to note that while we maintained these profitability measures, our focus this last quarter has been on process improvement and scalability enhancements to support our next significant phase of growth.

“During the first quarter, we identified areas for significant enhancements to a number of our operational processes that will support our planned growth, ranging from a new contracting process to a new accounting system. By leveraging these upgrades, we believe we’ll be positioned to accommodate the increasing influx of customers without commensurate increases in overhead. At the end of the first quarter of fiscal 2011, our retail customers (“hubs”) had grown to 26, a substantial increase as compared with 18 as of July 2009. It is clear that we have not fully exploited the revenue potential of these hubs and their suppliers (“spokes”). As a result of additional retail customers and the focus on internal process improvement, we currently have a “backlog” of approximately 300 supplier connections. For comparison purposes, historically the largest number of supplier connections in any year was 100. Given the first quarter’s scaling activities, we plan to accelerate our connections from 25 in the current quarter to in excess of 100 by the fourth quarter of this fiscal year, so long as the quality of those implementations achieves our standards.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs