Trucept Inc. Publishes Year-End Report for 2020

Rhea-AI Summary

Trucept Inc. (OTC Pink: TREP) reported a significant year-end revenue increase for 2020, achieving $12.3 million compared to $9.4 million in 2019. This growth is attributed to successful management fees, according to CEO Norman Tipton. Net income rose to $1.1 million from $400,000 the prior year. The company also expanded its service offerings by acquiring Afinda Inc. payroll services and UWS Insurance, which Tipton highlighted as crucial for enhancing client services.

Positive

• Revenue increased to $12.3 million in 2020, up from $9.4 million in 2019.
• Net income rose to $1.1 million in 2020, compared to $400,000 in 2019.
• Acquisitions of Afinda Inc. and UWS Insurance expanded service offerings.

Negative

• None.

Trucept Inc. (OTC Pink: TREP) recently published its year-end report for 2020 on March 31. The report shows $12.3 million in revenues versus $9.4 million in 2019. The increase is largely from great success in management fees that the company specializes in, CEO Norman Tipton said.

Additionally, net income was $1.1 million in 2020 versus $400,000 in 2019. During 2020, the company also acquired Afinda Inc. payroll services and UWS Insurance. “These acquisitions were vital to the scope of services Trucept offers to its clients,” Tipton said.

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. The company offers expert business services in the form of payroll, human resources and management, employee benefits, accounting support, safety and risk management, and marketing and technology services. 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. Factors that may impact the Company’s success are more fully disclosed in the Company’s most recent public filings with the U.S. Securities and Exchange Commission (“SEC”), including its annual report on Form 10-K.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210401005259/en/

FAQ

What were Trucept Inc.'s 2020 revenues and net income?

Trucept Inc. reported revenues of $12.3 million and net income of $1.1 million for the year 2020.

What acquisitions did Trucept Inc. make in 2020?

In 2020, Trucept Inc. acquired Afinda Inc. payroll services and UWS Insurance.

How did Trucept Inc.'s revenue in 2020 compare to 2019?

The revenue for Trucept Inc. in 2020 was $12.3 million, an increase from $9.4 million in 2019.

Who is the CEO of Trucept Inc.?

The CEO of Trucept Inc. is Norman Tipton.

When was Trucept Inc.'s year-end report for 2020 published?

The year-end report for 2020 was published on March 31, 2021.