Trucept, Inc. (DBA Afinida) Reports Substantial Increase in Revenue and Gross Profit for the Second Quarter of 2024

Rhea-AI Summary

Trucept, Inc. (OTC Pink: TREP), operating as Afinida, has reported significant financial growth for the second quarter of 2024. The company achieved a 25% increase in gross profit, amounting to $867,657 quarter-over-quarter. Additionally, Trucept recorded a 24% increase in income from operations and a 10% rise in net and comprehensive income compared to the previous quarter.

CEO Norman Tipton attributed these strong results to the company's strategic initiatives and focus on operational excellence. Trucept's portfolio of professional services includes Afinida Marketing, Insurance, Payroll, HR, Accounting, and Risk Management, demonstrating its commitment to meeting diverse client needs and driving sustainable growth.

Positive

• 25% increase in gross profit ($867,657) quarter-over-quarter
• 24% increase in income from operations quarter-over-quarter
• 10% increase in net and comprehensive income
• Diversified portfolio of professional services

Negative

• None.

ESCONDIDO, Calif., Aug. 19, 2024 /PRNewswire/ -- Trucept, Inc. (OTC Pink: TREP) DBA Afinida, is pleased to announce significant achievements in its financial performance for the Second Quarter of 2024

Highlights include:

• A $867,657 or 25% increase in gross profit for Q2 - quarter over quarter.
• Recorded an impressive 24% increase in income from operations quarter over quarter.  
• Recognized a 10% increase in net and comprehensive income.

"We are pleased to announce that Trucept, Inc. has continued its momentum with strong financial gains in the second quarter, reflecting our commitment to delivering consistent value to our shareholders. Our strategic initiatives and unwavering focus on operational excellence have positioned us for sustained growth. We look forward to building on this success in the coming quarters." - Norman Tipton, CEO.

Trucept Inc. (DBA Afinida) continues to innovate and adapt to meet the evolving needs of its clients while driving sustainable growth and delivering shareholder value. It's portfolio of professional services includes:

• Afinida Marketing - Data Driven Marketing, Technology, and Accessibility Act compliance.
  
• Afinida Insurance -Insurance Offerings and Third-party Administrator (TPA) services
• Afinida Payroll - Full-Service Payroll
• Afinida HR - Human Resources and Management
• Afinida Accounting – Financial Accounting Services
• Afinida Risk Management - Safety and Risk Management

About Trucept Inc.

Trucept Inc. is a renowned name in the business solutions sector, dedicated to helping companies focus on their core operations while it takes care of the peripheral business processes. With its extensive suite of services and a commitment to excellence, Trucept has been a trusted partner for countless businesses, aiding their growth and success.

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SOURCE Trucept Inc.

FAQ

What was Trucept's (OTC: TREP) gross profit increase in Q2 2024?

Trucept reported a 25% increase in gross profit, amounting to $867,657, for the second quarter of 2024 compared to the previous quarter.

How much did Trucept's (OTC: TREP) income from operations grow in Q2 2024?

Trucept recorded a 24% increase in income from operations for the second quarter of 2024 compared to the previous quarter.

What services does Trucept (OTC: TREP) offer under its Afinida brand?

Trucept, operating as Afinida, offers a range of professional services including Marketing, Insurance, Payroll, HR, Accounting, and Risk Management.

Did Trucept (OTC: TREP) report an increase in net income for Q2 2024?

Yes, Trucept reported a 10% increase in net and comprehensive income for the second quarter of 2024 compared to the previous quarter.