YTB (Your Travel Biz) Inc just released their 3rd quarter financial results.
It’s been a tough year for YTB. They showed a profit of $288,000 in the three months ending September 30th, compared to the same quarter last year when they hauled in $2 million dollars.
From CEO Scott Tomer on Monday:
“While we are disappointed by the reduction in our net income, we are also aware that much of the softness we are seeing is reflective of both an industry-wide trend and a difficult comparison to last year’s explosive growth. In the face of a looming recession, growing companies face the difficult choice of either cutting back on marketing efforts to save on expenses, or increasing these efforts in order to capture the increasingly selective customer.”
The company said that it plans to help raise cash by selling some of their assets, including an office building in Edwardsville as well as the company’s Learjet.
The YTB stock has has fallen from a high of $4.00 this year to $0.34 as of today. We are hoping they are able to turn things around and regain strength despite the setbacks.
November 22nd, 2008 at 11:19 pm
That is incredible! I can not believe that much money can be made out of the comfort of your own home!