Trucept Inc. Announces Earnings Results for the Second Quarter of 2020
August 31, 2020 at 08:30 am EDT
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Trucept, Inc. announced earnings results for the second quarter of 2020. For the period, the company reported revenues of $4.9 million in June (an increase from $2,295,165 in first Quarter). The company has experienced five consecutive quarters of profitability and projects $400 million in annual payroll processing in 2020 with 40% gross profit equating to $8.4 million (25% net profit equating to $5.8 million, respectively).
Trucept, Inc. provides marketing, accounting and human resource services to a range of industries, including staffing, professional employment organizations and hospitality. It has two subsidiaries. Afinida Inc. offers various services, including payroll services, which includes payroll processing, cloud-based software, direct deposits, new hire reporting and others, and payroll tax services, which includes payroll tax payments, filings and compliance services. Afinida Insurance Services, Inc. offers employee benefits, which include medical/dental/vision plans, supplemental insurance, and life insurance and cafeteria plans; commercial lines, which includes workers' compensation, business ownersâ policies, property insurance, general liability insurance and employment practices liability insurance; and individual policies, which includes medical, dental and vision plans, supplemental insurance, life insurance and home owners/condo/renters insurance.
TRUCEPT, INC. 
