LAS VEGAS, Nov. 15, 2011 (GLOBE NEWSWIRE) -- Ideal Financial Solutions, Inc. (OTCQB:IFSL), a fully reporting company listed on the OTCQB, creator and seller of various financial products and services for businesses and individuals, reports that the company has filed its Form 10-Q with the Securities and Exchange Commission, which includes its third quarter financial statements. The full document, including financial statements and management's discussion and analysis, may be viewed online at the SEC's EDGAR website and our corporate site: www.globenewswire.com/newsroom/ctr%3Fd=222048%26l=1%26a=www.idealfsi.com%26u=http%253A%252F%252Fus.lrd.yahoo.com%252FSIG%253D13s2ls3nc%252F%252A%252Ahttp%25253A%252Fwww.globenewswire.com%252Fnewsroom%252Fctr%25253Fd%253D207095%252526l%253D1%252526a%253Dwww.idealfsi.com%252526u%253Dhttp%2525253A%2525252F%2525252Fwww.idealfsi.com" target="_top" rel="nofollow">www.idealfsi.com later today. Conference call information is available at the bottom of this release.
"Ideal Financial is pleased to announce an outstanding financial quarter, posting revenue of $3,297,149 and net profits of $2,425,642," stated Ideal Financial Solutions Chief Financial Officer, Scott M. Manson. "The company is pleased to see an increase both in top line revenue as well as operational efficiency."
Chief Executive Officer Steve Sunyich added, "It has been an exceptional year for Ideal Financial as we transitioned our business into more profitable arenas. Our team has never been content with yesterday's successes. I applaud them for their ability to execute with such efficiency by leveraging our technologies in economic times when our services are both timely and necessary. Our goal now is to build on this success and to reward our shareholders with deeper penetration into our core verticals and expansion into new and exciting markets."
Financial Highlights:
- After successful diversification, the company has substantially increased profitability with an increase of over 1500% in net income quarter-to-quarter.
- Revenue increased by over 480% quarter-to-quarter.
- The company is essentially debt free.
- The company has not required any new capital or financing to see the company through its successful transition and establishment of its new business model.
- With the transition completed, the business model is fully scalable.
- We have removed the disputed credit card-related fine from our balance sheet leaving it in excellent condition.
- The company continues to explore new verticals where it can leverage its growing brand, technology, and specialized business expertise.
Conference Call:
A conference call for investors and members of the financial community has been set for Thursday, November 17, 2011 at 4:30 p.m. Eastern. The participant dial-in number is 480-629-9760. It is recommended that participants dial into the call ten minutes before start time to secure their position. A conference call replay will be available at 877-870-5176, or internationally at 1-858-384-5517. The call will be available from: 11/17/2011 at 7:30 p.m. Eastern Time to 12/17/2011 at 11:59 p.m. Eastern Time. The replay pin number is: 4488488.
About Ideal Financial Solutions
Based in Las Vegas, Nevada, Ideal Financial Solutions (http://www.idealfsi.com) provides the education, support and automated tools to create additional cash resources, rapidly eliminate all non-asset-building debt and build financial independence. As a leader in financial services, Ideal uses its automated CashFlow Management(C) tools and its Credit to Wealth Systems to assist individuals, families and small businesses in building financial independence. Select the following links to view more information on Ideal's brands such as Ideal Financial HR, Ideal Cash Secrets and iLenderAssistance.com. Please connect with us on Linkedin or Twitter. For investors who would like to receive Ideal's newsletter, please send your email address to: support@idealfsi.com
For the latest news and press, please visit http://www.idealfsi.com.
IFSL's new XBRL/SEC portal provides access to filings and more at http://www.idealfsi.com/investors/ifsl-investor-relations/financial-reporting
Forward Looking Statements. This release may contain forward-looking statements as well as historical information. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the company's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks include, without limitation, the risk that the company's revenues will not grow as projected; that increases in marketing or other expenses may increase more rapidly than revenues; that any recent positive trends in the company's financial position may be reversed because of declines in revenues, increases in costs and/or unexpected liability event. The company expressly disclaims any obligation to update or revise any forward-looking statements found herein.