Trucept, Inc. (DBA Afinida) Reports Substantial Increase in Revenue and Gross Profit for the First Quarter of 2024
May 15, 2024 at 05:01 am EDT
Share
ESCONDIDO, Calif., May 15, 2024 /PRNewswire/ -- Trucept, Inc. (OTC Pink: TREP) DBA Afinida, is pleased to announce significant achievements in its financial performance for the First Quarter of 2024
Highlights include:
A 21% increase in Net Revenue totaling $4,952,143 for Q1, versus $4,092,027 for the same period last year.
Recorded an impressive 31% increase in gross profits for the quarter. Q1 gross profit totaled $3,411,530 versus $2,607,352 for the same period last year.
Current ratio improved to 1.07 for Q1, versus 1.0 for the last quarter.
"We are thrilled to report that Afinida has achieved impressive financial results in the first quarter," said Norman Tipton, CEO Afinida. "Our team's hard work and dedication have been instrumental in surpassing our targets, and this success sets a positive tone for the remainder of the year. We remain committed to leveraging our strengths in innovative business solutions to continue our growth trajectory. We attribute this success to strategic investments in technology and a strong focus on client-centric services, which have significantly enhanced operational efficiencies and customer satisfaction.
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 - Accounting Support
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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/trucept-inc-dba-afinida-reports-substantial-increase-in-revenue-and-gross-profit-for-the-first-quarter-of-2024-302145610.html
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. 
View original content to download multimedia:https://www.prnewswire.com/news-releases/trucept-inc-dba-afinida-reports-substantial-increase-in-revenue-and-gross-profit-for-the-first-quarter-of-2024-302145610.html
