MANALAPAN, N.J., Dec. 31, 2004 (PRIMEZONE) -- Stratus Services Group, Inc., the SMARTSolutions Company (OTCBB:SSVG), reported today its President and CEO's guidance relative to its first quarter of its upcoming fiscal 2005.
Joseph J. Raymond, Sr., President and CEO, stated, "As our audited financial results for fiscal 2004 reflected, the Company has turned the corner and has finally realized the benefits of its long-term plan. Projections for the Company's upcoming first quarter of Fiscal 2005, compared to the same period for 2004, show increased profitability and continuing sales growth. The NOL carry-forwards the Company possesses will become valuable as the Company finally reaches profitability."
"The Manpower Employment Outlook Survey ("Survey") that was released on December 14, 2004 confirms that the job outlook for 2005 is 'more upbeat than it was at the start of 2004'.
According to the survey, 'of the 16,000 employers that were surveyed, 24% anticipate an increase in hiring activity for the first quarter of 2005.'. Stratus anticipates that year after year revenue growth results will reflect that continued growth trend as its customers have been following the trend by increasing orders. Because of this continued revenue growth, Stratus anticipates this fiscal year's revenue growth to be in the range of 20%-25%. In turn, this continued revenue growth will allow the Company to increase operating profitability on a sequential basis, from its fiscal fourth quarter onward. However the company is not prepared to give full guidance pertaining to net earnings at this time."
Stratus is a national provider of business productivity consulting and staffing services through a network of thirty offices in seven states. Through its SMARTSolutions(TM) technology, Stratus provides a structured program to monitor and reduce the cost of a customer's labor resources. Through its Stratus Technology Services, LLC joint venture, the Company provides a broad range of information technology staffing and project consulting.
This news release includes forward-looking statements within the meaning of the federal securities laws that are subject to risks and uncertainties. Factors that could cause the Company's actual results and financial condition to differ from the Company's expectations include, but are not limited to, a change in economic conditions that adversely affects the level of demand for the Company's services, competitive market and pricing pressures, the availability of qualified temporary workers, the ability of the Company to manage growth through improved information systems and the training and retention of new staff, and government regulations.