STUART, Fla., May 15, 2017 (GLOBE NEWSWIRE) -- CPSM, Inc. (OTCQB:SWMM), the Florida based pool & spa industry aggregator, released its first quarter results exceeding expectations.
CPSM reported an increase of year over year revenue of approximately 5% while reducing Purchases and Service costs by 5% resulting in a margin of 30%. This was a 7% improvement on the prior year.
Chairman Lawrence Calarco reflecting on the quarter, commented, “Operations are now assimilated since the acquisition of Sundooks and our results are reflecting a more well run business model. We have put the onetime costs behind us and we are one quarter ahead of schedule. This is due primarily as a result of our team of dedicated technicians, mechanics and office staff. We are proud of the results and look forward to even better results in the coming days. The future looks exciting.”
CPSM, Inc. is a publicly held company serving the surging pool/spa maintenance, design, and construction industry.
Safe Harbor Statement: This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
SOURCE: CPSM, Inc.