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Joystar Announces First Ever Quarter of ProfitabilityAugust 15, 2006 By: Joe Pike Travel Agent
Joystar, Inc., a leading seller of cruises and vacation packages and host to thousands of independent travel agents, announced Tuesday results for the second quarter ended June 30, 2006. William Alverson, chairman and CEO, said Joystar's new membership rate increased 43 percent sequentially from 374 agents in the first quarter to 536 agents in the second quarter. Revenues for the six months ended June 30 increased 874 percent to $4,736,000 compared to $486,000 for the six months ended June 30, 2005. The increase of $4,250,000 is due to the substantial increase in professional travel agent membership and higher commission levels from Joystar's preferred suppliers.