Green said the company plans a new application in the financial services area that has upside potential. In a prepared statement, he also noted that "We have also begun to see positive results through newly developed reseller programs. We will continue to pursue accretive acquisitions, drive top-line revenue opportunities and balance expenses with a focused eye on profitability and growth."
The company's provision for income taxes rose to $735,379, up from $44,614. Adjusted EBITDA for 2012 was $499,048, down from $1.4 million. Because of the EBITDA and its cash position, SmartPros increased its quarterly dividend by 20 percent to 15 cents per share. Green's statement cautioned that future dividends depend on results and "by our ongoing requirement for cash to make acquisitions, which remains our primary goal."
Last modified on Sunday, 02 June 2013