MALTON, England, Dec. 16, 2008 (GLOBE NEWSWIRE) -- Propalms, Inc. (OTCBB:PRPM) announced today that the Company has filed its Form 10-Q with the United States Securities and Exchange Commission for the quarter ended October 31, 2008. This Quarterly Report is available through the SEC's forms and filings website at http://www.sec.gov/edgar.shtml. Propalms posted Net Revenues of $698,739 and a gross profit of $334,839 for the nine months period ended October 31, 2008. Propalms revenue was generated through license renewals and maintenance agreements for the Company's TSE 5.0, as well as sales of Propalms' recently released TSE 6.0 and VPN software products.
With the release of two new software products, the Company is continuing to develop its international sales and marketing activities as well as continuing its product enhancements and modifications. Propalms anticipates that future sales will increase as a result of these activities. During the past nine months, the Company has recently signed new distributors on the Indian sub-continent, Europe, and South America.
"We are pleased to provide our shareholders with our financial statements for the third quarter of 2008. Propalms is excited about the achievements that we have made this past quarter, such as having our application cleared to be dually quoted on the Over the Counter Bulletin Board. We look forward to taking advantage of the new customer channels that have been created by the launching of Propalms VPN and TSE 6.0," stated Robert Zysblat, President of Propalms, Inc.
This Quarterly Report can also be found on the Company's website at http://www.propalms.com.
About Propalms, Inc.:
Propalms, Inc. is a global provider of application delivery solutions for Terminal Services and Virtual Desktop Infrastructures. Delivering to enterprises of all sizes, Propalms offers reliable, scalable and affordable solutions that simply work. Our belief is that application delivery solutions should be flexible, dynamic and, above all, simple to use.
Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.