Trucept Announces Significant Increases in Net Income and Revenue for the Year Ending 2021

Rhea-AI Summary

Trucept Inc. (TREP) reported its seventh consecutive profitable year with a 52% increase in net income, totaling $1,645,095, and a 43% rise in annual revenue, reaching $17,584,339 for 2021. CEO Norman Tipton expressed optimism for future growth in 2022 as the company continues to expand its professional services, which now include marketing, insurance, payroll, and human resources. The firm focuses on helping businesses navigate growth and improve operational efficiency.

Positive

• Net income increased by $563,901 or 52% over the previous year.
• Annual revenue rose by $5,298,826 or 43% compared to the prior year.
• Trucept has reported a profitable year for the seventh consecutive time.
• Expectation of continued growth in revenue and income for 2022.

Negative

• None.

Posts seventh consecutive profitable year; Annual revenue up 43% over 2020

SAN DIEGO--(BUSINESS WIRE)-- Trucept Inc. (OTC Pink: TREP) today has released its updated financials for the year ending 2021. The company is excited to report a 52% increase in Annual Net Income and a 43% Increase in Annual Revenue over the prior year period.

The firm posted its seventh consecutive profitable year in 2021 with net income of $1,645,095, an increase of $563,901 or 52% over prior year. In addition, the firm posted annual revenue of $17,584,339, an increase of $5,298,826 or 43% over prior year.

CEO Norman Tipton said, “We are very pleased with the results being posted by our business units. Our core business and subsidiaries continue to experience excellent growth. Management anticipates that Trucept’s revenue and income will continue to grow and that 2022 will be a very exciting year as we implement ways to grow our Company.”

Trucept offers professional services that help businesses navigate growth. The company’s professional services now encompass the following:

• Marketing, technology, and Accessibility Act compliance services
• Insurance offerings and third-party administrator (TPA) services
• Payroll
• Human resources and management
• Employee benefits administration
• Accounting support
• Safety and risk management

For additional information, visit www.truceptservices.com

About Trucept Inc.

True solutions, today and tomorrow: Trucept Inc. helps organizations focus on growing their business. With a dedicated suite of powerful tools and services designed to put business owners in charge of running their businesses and increasing efficiency, Trucept tackles a variety of important administrative needs and provides a host of value-added advantages. For more information, call 858-798-1620 or visit https://truceptservices.com/.

Disclaimer

Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management’s current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company’s expectations with regard to these forward-looking statements or the occurrence of unanticipated events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220322005498/en/

Norman Tipton

858-798-1620

info@truceptservices.com

Source: Trucept Inc.

FAQ

What were Trucept Inc.'s financial results for 2021?

Trucept Inc. reported a net income of $1,645,095, a 52% increase, and annual revenue of $17,584,339, a 43% increase over 2020.

How many profitable years has Trucept Inc. posted?

Trucept Inc. has posted seven consecutive profitable years.

What is the anticipated growth for Trucept in 2022?

Management anticipates continued growth in revenue and income for the year 2022.

Which professional services does Trucept offer?

Trucept provides services including marketing, insurance, payroll, human resources, employee benefits administration, accounting support, and safety and risk management.

What is the stock symbol for Trucept Inc.?

The stock symbol for Trucept Inc. is TREP.