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Thu, June 11, 2009 TEAM Nation Holdings Corporation: TEAM Nation Increases Revenue 147% in 1st Quarter 2009
IRVINE, CA--(Marketwire - June 11, 2009) - TEAM Nation Holdings Corporation ("TEAM Nation") (
TEAM Nation's revenue in the 1st Quarter increased dramatically to $1,034,640, up from $418,122 in the 4th Quarter of 2008. Revenues for the year were based on management fees and services fees generated from title agents in Southern California, particularly from TEAM's management of CalCounties Title Nation.
Yesterday, TEAM announced it had signed an agreement to acquire CalCounties after successfully managing the company since 2007. Under TEAM Nation's direction, CalCounties increased its monthly revenue ten-fold, from approximately $100,000 since TEAM began managing the company in 2007 to over $1.2 million for the month of May, 2009. CalCounties was able to generate this growth, despite the worst real estate downturn in over three decades. CalCounties increased revenues by 98.8% in 2008, and expects revenues to exceed $15 million in 2009.
With the acquisition of CalCounties, TEAM is on course to significantly increase revenues in 2009. The Company is also looking to make similar strategic acquisitions this year which is expected to generate additional revenue.
"The continuing favorable interest rates and federal support for homeowner transactions continues to bear positively on the real estate sector, which was stagnant through most of 2008," said Janis Okerlund, president of TEAM Nation. "We are confident that TEAM's management strategy and efficiencies will continue to result in substantial revenue growth through 2009."
TEAM Nation offers a suite of services to struggling real estate companies including current business review and critique, workflow analysis, growth consultation, financial diversification strategies, acquisition strategies, cost reduction analysis, operations management, and business plan evaluation.
About TEAM Nation Holdings Corporation
TEAM Nation Holdings Corporation, a Nevada corporation ("TEAM-NV"), is a management and services company specializing in title insurance and escrow services through our affiliate title agency(ies), and the provision of management, production services, HR administration, IT support, and accounting administration for title insurance companies and related real estate ventures. TEAM Nation Holdings, a Nevada Corporation ("TEAM-NV"), is a holding Corporation for TEAM Nation Holding, a California corporation, a production and services company ("TEAM-CA") along with Escrow Nation, Inc. a California Corporation and Mortgage Nation, Inc., a California Corporation.
This news release contains forward-looking statements. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks described in the company's filings with the SEC.
