|By Marketwired .||
|January 21, 2014 11:44 AM EST||
SAINT CLOUD, FL -- (Marketwired) -- 01/21/14 -- Small Business Development Group, Inc.'s (OTC Pink: SBDG) Chief Executive Officer Roy Salisbury said today, "We are pleased to announce that the year end 2013 results for our acquisition of Production Partners Chemical Inc. is on track to increased revenue and profit over 2012. The total revenue for 2012 was $10,783,661 and the revenue through the third quarter of 2013 was $12,888,875, which is 19.5% above the total revenue for all of 2012. As we previously reported, the first nine months of 2013 reflected revenue of $12,888,875 of which $5,323,425 was in the third quarter, which is an increase of 13.8% over the second quarter. The increase in sales is due to our raw material suppliers who supply us with our raw materials reassigning small accounts to PPC. Expenses for the third quarter were $570,044, down 2.2 %, due to several cost-saving measures. The cost of goods was $4,612,311, up 1% over the prior quarter, due primarily to lower margins on reassigned accounts by our raw material suppliers. Despite the lower margins, third quarter profits were up 10.1% over the prior quarter."
Small Business Development Group, Inc. is a holding company acquiring companies for its own portfolio, and is a strategic business solutions firm providing services to companies requiring cutting-edge financial advice in the area of corporate growth and exit strategies.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Small Business Development Group, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions the occurrence of unanticipated events or changes to future operating results.
Chief Executive Officer