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Pro Travel Network Reveals Expansion PlansMarch 18, 2009 By: Travel Agent Central Contributor
Pro Travel Network, with nearly 12,000 independent agent affiliates, is continuing its expansion plans into Australia, and has outlined that since it has no long-term debt it has positioned itself well when the economy turns around. Both of those points were highlighted by company CEO Paul Henderson in an interview on the AOL Small Cap Show produced by AGORACOM Investor Relations. (The interview can be accessed on the Broadcast Center with AGORACOM at http://agoracom.com/broadcastcenter and by clicking on the hyperlink within the AOL Small Cap show section.)
"We're very excited about the prospects for 2009," said Henderson. "The travel business is a $7 trillion industry and even in an economic downturn, which we are coming out of, it is still a $5 to $6 trillion market. We have ventures planned for Australia, the Pacific Rim and Mexico for this year which is another reason for our excitement.”
Henderson also recently authored an open letter to the industry at TravelAgentCentral.com on the ongoing card-mill controversy.
Henderson commented that the company had booked over $5 million in travel last quarter and maintains its zero long-term debt position. Its latest filings showed it had revenue in excess of $1.5 million for the quarter ending December 31, 2008, and a gross profit of $752,052, which was an increase of 34 percent over the same quarter last year. After expenses and one-time losses, the company realized a basic and diluted net income of $0.00 per share.