STTN.OB $0.58
EXCITING NEW PR ON STTN. Released at 5am this morning!
NEWPORT BEACH, Calif., July 21 /PRNewswire-FirstCall/ — Smart-Tek Automated Services, Inc. (OTC Bulletin Board:STTN.ob – News) announces an agreement signed June 22, 2010 with a Chicago-based broker who is targeting a minimum of $120 million in annual gross payroll with a resulting net reportable revenue (in compliance with GAAP) in excess of $40 million, subject to any adverse market changes. $40 million in annual gross payroll will be processed ($12 million net reportable revenue) by the quarter ending September 30, with the balance placed by quarter ending December 31.
Growing its broker sales network is a strategic priority for Smart-Tek, since brokers serve a critical role in the PEO world as the initial client contact, and the company has signed several new contracts in recent weeks. In addition to offering lucrative broker plans, Smart-Tek’s appeal to broker networks results from offering some of the country’s most comprehensive PEO offerings. The company’s personalized presentations include broker information, submission forms, comparison tools, detailed reports on commissions, detailed reports on variances between booked and actual remarketing processes, and numerous other useful technologies and enhancements.
“We believe the U.S. broker market is critical to the success of PEOs in general and to our company in particular,” said Kelly Mowrey, COO of Smart-Tek. “Our strategic plans are targeted right in the sweet spot, and we will continue to build our efforts in attracting them as we expand our market share.”
