ISELIN, N.J., Oct. 4, 2007 (PRIME NEWSWIRE) -- SoftNet Technology Corp. (OTCBB:STTC) (XETRA:TG6) (WKN:A0B7RZ) announced today that, in August 2007, it had achieved profitability for the first time.
On an unaudited basis, the Company reported revenues of $908,000 in August, a monthly record. The Company achieved a significant milestone in August when it recorded its first profit on an operating basis.
"The Company is proud of this achievement and it was attained through the efforts of all employees. The cost containment, SG&A reductions and profit improvement plans, coupled with strong revenues, are starting to yield the expected results. August was a long month with a higher than normal number of billing days. Our next challenge will be to continue to leverage the fixed costs through higher revenues for months with lower billing days," said Jim Booth - CEO.
SoftNet Technology Corp. is a Professional Services firm offering proven technology solutions to the enterprise and services provider market verticals. Through process and people, SoftNet has secured and delivered contracted solutions that maximize their client's business value of their IT infrastructure investments. The growing team of highly qualified industry leading professional support the core deliverables as well as the expansion of SoftNet's services and solutions. These resources along with the proven management team have defined and brought to market nine practices specialties. SoftNet's North American footprint supports Fortune 500 commercial accounts, the education sector and Government agencies, and leveraging offices in New York/New Jersey, Philadelphia, and Atlanta.
For additional information regarding SoftNet and its capabilities and offerings, please visit us at our website (www.softnettechnology.com), or for Investor Relations, please contact the company directly at 908-212-1799, Option 7, or Jim Booth - CEO.
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The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by SoftNet Technology Corp (STTC) may differ materially from these statements due to a number of factors. STTC assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.