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25
May
2012

Probe reports ninth quarter of growth, lower profitability

Probe Manufacturing reported 42% revenue growth for its first quarter of 2012 and 9 consecutive quarters of growth and profitability.
During the first quarter of 2012, the company’s revenue was 1,285,868 USD compared to 906,313 USD for the same period in 2011. Operating income was $57,053 compared to $41,105 for the same period in 2011. Gross profits were 35% in the first quarter of 2012 compared to 29% in the same period in 2011.

“Although Probe experienced overall lower profitability due to interest expenses associated with increased borrowing to support operational expansion, the company has maintained impressive top-line growth. The company currently pays an exorbitant 20%+ interest rate on borrowed capital from its asset based lender. Thus, we are aggressively pursuing a more equitable financing arrangement that will deliver more revenue to our bottom line,” said John Bennett, CFO of Probe.
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