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Afinida (OTC Pink: TREP) reported strong financial results for 2024, with total net revenues reaching $23 million, marking a significant 17% increase ($3.3 million) from the previous year. The growth is attributed to strategic investments in new operating subsidiaries across marketing, human resources, risk, and accounting sectors.
The company achieved notable financial milestones, including a gross profit increase of $1 million (8%) through efficient subsidiary operations. Afinida's enhanced focus on accounts receivable collections led to improved cash flow sustainability, resulting in a substantial 70% reduction in accounts payable balances, equivalent to nearly $800,000.
Butler National (OTCQX: BUKS) has appointed Jeff Yowell to the newly created position of Executive Chairman. Yowell, who joined the Board of Directors nearly a year ago, will work closely with President and CEO Chris Reedy to guide the company's strategic vision and growth. Joseph P. Daly has been appointed as Lead Independent Director.
Yowell brings significant experience, operating JDY Inc., a C-Suite consulting business, and owning Getter Farms, He has served on the Board of Trustees for the Trust of Buffalo Funds since 2015 and as Board Chairman since 2018. Previously, he was President and CEO of DataCore Marketing, from 1992 to 2012.
The appointment aims to support CEO Chris Reedy in evolving Board engagement and operational support while enhancing various aspects of the business to improve shareholder value.
Energy Services of America (NASDAQ: ESOA) reported strong financial results for Q4 and fiscal year 2024. The company achieved annual revenue of $351.9 million, a 15.7% increase from the previous year, and gross profit grew 36% to $50.0 million. Net income reached $25.1 million ($1.51 per diluted share), including $11.4 million from a legal judgment.
Q4 revenue was $104.7 million with net income of $6.7 million ($0.40 per diluted share). The company's backlog stands at $243.2 million, up from $229.8 million year-over-year. Management expressed optimism about fiscal 2025, citing benefits from the Infrastructure and Jobs Act and recent acquisition of Tribute Contracting.
Trucept Inc. (OTC Pink: TREP) reported strong Q3 2024 financial results with significant growth across key metrics. The company achieved a 33% increase in Net Revenues reaching $1,524,541 and a 34% increase in Gross Profit totaling $1,006,660 compared to Q3 2023. Year-to-Date Net Revenues grew by 27% to $3,658,912, while YTD Net Income increased by 6% compared to 2023. The company, operating as Afinida, provides various business solutions including accounting, HR, insurance, marketing, payroll, and risk management services.
Energy Services of America (Nasdaq: ESOA) has announced that its President, Doug Reynolds, will deliver a presentation at the 16th Annual Southwest IDEAS Investor Conference. The event will take place on November 21, 2024, at The Statler in Dallas, TX, with the company's presentation scheduled for 11:30am CT.
The presentation will be accessible via webcast through the conference host's website at threepartadvisors.com/southwest. Interested parties can contact Lacey Wesley for more information about the IDEAS conferences.
Trucept Inc. (OTC Pink: TREP), doing business as Afinida, has promoted Brendan McMenamy to Chief Financial Officer following his successful completion of CPA exams. McMenamy, who has been with the company for five years, has demonstrated strong financial leadership and expertise. The company, which provides comprehensive business solutions including accounting, HR, insurance, marketing, payroll, and risk management services, expects McMenamy's strategic insights to continue driving growth and operational support for clients.
Peoples Financial (PFBX) reported significant earnings growth for Q3 2024, with net income increasing to $15.4 million compared to $1.9 million in Q3 2023. The surge was primarily due to a $15.2 million tax benefit from reversing the company's valuation allowance on deferred tax assets. However, pre-tax income decreased by $904,000 to $1.3 million. Total interest income slightly decreased to $7.8 million, while interest expense rose by $1.1 million due to higher rates on deposits and borrowings. The Bank's gross loans increased by $9.6 million year-over-year to $239.3 million, and total shareholders' equity improved by $37.3 million to $96.4 million.
Trucept, Inc. (OTC Pink: TREP), operating as Afinida, has announced the release of its audited financials for 2022. CEO Norman Tipton stated that the company expects to publish its 2023 financials soon. Trucept offers a comprehensive portfolio of professional services, including:
- Afinida Accounting – Financial Accounting Services
- Afinida Insurance - Insurance Offerings and TPA services
- Afinida HR - Human Resources and Management
- Afinida Payroll - Full-Service Payroll
- Afinida Marketing – Full-Service Marketing Agency
- Afinida Risk Management - Safety and Risk Management
The company aims to help businesses focus on their core operations while handling peripheral business processes.
Butler National (OTCQX: BUKS) reported strong financial results for Q1 FY2025 ended July 31, 2024. Revenue increased 15% to $19.8 million, with Aerospace Products revenue jumping 30% and Professional Services revenue up 2%. Operating income surged 211% to $3.5 million, while net income tripled to $2.2 million. Earnings per share improved to $0.03 from $0.01 year-over-year.
The company's backlog reached a record high of $38.2 million. Aerospace Products segment turned profitable with $1.4 million operating income, while Professional Services maintained strong performance. Sports wagering contributed $1.0 million in quarterly revenue. Butler National continues to invest in new product development and STC approvals to drive future growth.
Trucept, Inc. (OTC Pink: TREP), operating as Afinida, has reported significant financial growth for the second quarter of 2024. The company achieved a 25% increase in gross profit, amounting to $867,657 quarter-over-quarter. Additionally, Trucept recorded a 24% increase in income from operations and a 10% rise in net and comprehensive income compared to the previous quarter.
CEO Norman Tipton attributed these strong results to the company's strategic initiatives and focus on operational excellence. Trucept's portfolio of professional services includes Afinida Marketing, Insurance, Payroll, HR, Accounting, and Risk Management, demonstrating its commitment to meeting diverse client needs and driving sustainable growth.
