1st Quarter (2011) Reflects
Continued Upward Trends
Cleveland, OH – November 14, 2011 –
SearchPath HCS Inc. (Pink Sheets: SRCP),
announced that its fiscal 1stquarter results show total revenues increased 24.2% over the previous quarter. In addition, placement fees from company owned operation increased dramatically during the same time period from $31,750 to $108,800, a 242% increase.
“Our company office placement revenue was more than 36% ahead of the previous two quarters combined,” stated Thomas K. Johnston, President and CEO of SearchPath. Johnston continued, “Through our Royalty revenues were fairly stable, down just 4.5% for the quarter, the overall outlook heading into 2012 continues to reflect the overall increase in demand for highly skilled, passive employees.”
Gearing up for Accelerated Growth
“SearchPath is continuing to refine our model. We are eliminating unproductive units, and we will be adding infrastructure over the next quarter and into the New Year. Operationally, we are in the process of fine tuning new initiatives that enhance our positions the go-to headhunting firm for candidates that will have a strategic impact on our client’s short- and long-term success. The ongoing volatility in the global market demonstrates the continuing need for industry specific talent with a track record of success.
The unemployment rate for our market segment is just over 4%, essentially full employment, and many of our clients are struggling to identify and recruit talent. These trends result in increasing demand for our services,” observed Tom Johnston.