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CPA2Biz Reaches Profitability for the First Time Oct. 21, 2005 (SmartPros) CPA2Biz Inc., the majority owned marketing and technology portal of the American Institute of CPAs, posted a net income of $150,000 for the year ending July 31, 2005, compared to a loss of $3.144 million the previous year. CPA2Biz's revenue grew by almost $1 million to $14.284 million from $13.327 million the previous year. CPA2Biz said the results were driven by strong revenue growth in new CPA2Biz business lines and a reduction in depreciation expense. "Through focus and solid execution, we’ve been able to grow our customer base and revenues while maintaining an appropriate cost structure moving the company to profitability," remarked Erik Asgeirsson, CEO, CPA2Biz Inc. "Over the past few years we have been extremely focused on building out a high quality online channel for CPAs, developing value added programs for CPA firms and their small business clients, and providing leading marketing and technology services to the AICPA." CPA2Biz.com is an e-commerce site for CPAs. 2005 SmartPros Ltd. All rights reserved. |
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