Dallas, TX., Nov. 29, 2018 (GLOBE NEWSWIRE) -- GEX Management Inc (GXXM), a Dallas based management and professional services company, announced the close of a very strong third quarter (Q3 2018) that included a successful exit of a California based minority women owned healthcare services subsidiary and the successful execution of a strategic partnership with a long-term factoring partner to manage working capital needs. The company’s strong business growth and transaction initiatives were evidenced by a solid 23% increase in revenue for the quarter ending September 2018 compared to the similar period last year as well as a very solid 384% improvement in net profits for the quarter ending September 2018 compared to the similar period last year, primary attributable to the strategic exit of the healthcare services subsidiary.
Sri Vanamali, the Executive Director of GEX Management Inc. stated, “Despite the capital constraints typically faced by minority businesses in the highly competitive professional staffing and services ecosystem, GEX has once again proved very strong resilience by executing solid results for the quarter. In addition to the successful exit transaction and execution of strategic relationships with our business partners, we continue to rapidly build our organic and inorganic pipeline in the staffing, PEO and professional services space. We have solid commitments from our investor groups to continue partnering with us in helping us rapidly grow both the channels as we step into the New Year. Additionally, we continue our solid focus on investing and partnering with minority and women owned businesses and we expect this emphasis to continue to drive our growth strategy in 2019 and beyond “
GEX Management historically delivered over 1500% YoY revenue growth in FYE 2017 compared to FYE 2016 resulting in the company being named at the top of the list of Fastest Growing Public Firms in the North Texas region by the Dallas Business Journal. With a renewed focus on improving profitability while continuing to focus on driving top line growth through organic and acquisition initiatives, the management is confident of delivering strong value to investors and shareholders and is extremely excited about the opportunities available to significantly grow and expand the GEX Management Business Ecosystem in the years to come.
About GEX Management
GEX Management, Inc. Is a Professional Services, Staffing and licensed Professional Employer Organization (PEO) Company providing staffing and comprehensive back office and PEO services to clients in a variety of industries. GEX Management services include Staffing, HR, Payroll, Risk & Compliance, and Executive Consulting, and provides progressive and complete solutions for employee management and operational needs. http://www.gexmanagement.com
Information on Forward Looking Statements
The statements contained herein that are not historical facts are forward-looking statements within the meaning of the federal securities laws (Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). You can identify such forward-looking statements by the words "expects," "intends," "plans," "projects," "believes," "estimates," "likely," "possibly," "probably," "goal," "opportunity," "objective," "target," "assume," "outlook," "guidance," "predicts," "appears," "indicator" and similar expressions. Forward-looking statements involve a number of risks and uncertainties. In the normal course of business, GEX Management, Inc., in an effort to help keep our stockholders and the public informed about our operations, may from time to time issue such forward-looking statements, either orally or in writing. Generally, these statements relate to business plans or strategies, projected or anticipated benefits or other consequences of such plans or strategies, or projections involving anticipated revenues, earnings, profits, pricing, operating expenses or other aspects of operating results. We base the forward-looking statements on our expectations, estimates, and projections at the time such statements are made. These statements are not guarantees of future performance and involve risks and uncertainties that we cannot predict. In addition, we have based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. The actual results of the future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements.
SOURCE GEX Management, Inc.
Director of Media Relations
Email address: email@example.com