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Article: Global Business Services, Inc. Reports Improved FY2002 Results; GBSS to Open 9 New Franchise Locations By December.
- Article from:
- Business Wire
- Article date:
- October 21, 2002
CopyrightCOPYRIGHT 2002 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
SAN DIEGO--(BUSINESS WIRE)--Oct. 21, 2002
Global Business Services, Inc. (OTCBB:GBSS), a rapidly growing retail network of franchise and company owned stores in the retail postal and business services industry, today reported total revenues increased 45 percent, store revenues increased 39 percent and franchise sales and royalties increased 111 percent during FY 2002, which ended June 30, 2002, compared with FY2001. In addition, the company reported a 73 percent reduction in general and administrative expenses last year compared with the year before.
The company's results show a net loss for FY2002 of $1.082 million, down from ...