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Accufacts Pre-Employment Screening, Inc. Announces Record First Quarter; Accufacts Experienced 148 Percent Growth in Revenue and 141 Percent Growth in Gross Profit.


Business Editors

NEW YORK--(BUSINESS WIRE)--May 16, 2000

Accufacts Pre-Employment Screening, Inc. (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:APES APES Advanced Placement Environmental Science
APES Automated Patient Evacuation System
APES Adiabatic Potential Energy Surface
APES Amplitude and Phase EStimation (algorithm)
APES Advanced Protective Eyewear System
) a leading Internet-based background screening firm announced record results for the first quarter ended March 31, 2000.

Revenues for the first quarter ended March 31 were $982,405.00 versus $395,678.00 for the same period last year, up 148 percent. Gross profit for the first quarter ended March 31, 2000 was $322,744.00 versus $138,810.00 for the same period last year, up $141 percent.

"Accufacts' increase in revenue was attributed to an acquisition which closed in October 1999, coupled with increased marketing efforts, cross-selling of new product lines, and a focused effort to strengthen our business to business, (B to B) Internet exposure", said Philip Luizzo, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of Accufacts.

Mr. Luizzo further stated that "the release of our quarterly financial information at this time will clarify certain misinformation mis·in·form  
tr.v. mis·in·formed, mis·in·form·ing, mis·in·forms
To provide with incorrect information.



mis
 purporting to be an evaluation of our company that a number of financial news services received over the Internet last week from an anonymous source. We have reported the release of unauthorized information to the appropriate division of the Securities and Exchange Commission.

About Accufacts Pre-Employment Screening, Inc. Accufacts Pre-Employment Screening, Inc., based in New York City New York City: see New York, city.
New York City

City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S.
 and Florida, acts as an information service bureau and is in the business of verifying job applicant background information throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Accufacts has the resources to provide companies with criminal records, credit reports, social security verification, driving records, employment and education verification through direct searches of courts, credit bureaus, educational institutions and corporations. These services can be provided on a nationwide scale and performed within a 24 to 72 hour turnaround period. Accufacts services can be viewed and utilized over the Internet at: http://www.accufacts.com.

This press release contains forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 regarding Accufact's business strategies and future plans, risks and uncertainties. The Company's risks and uncertainties include, their ability to work together and grow the companies, periodic downturns in their industries, dependence on the Internet, timely acceptance of new products and intense price competition in their industries. These and other important factors, including those mentioned in various filings with the Securities and Exchange Commission made periodically by the Companies (available at http://www.sec.gov), may cause the actual results and performance to differ materially from the future results expressed in or implied by such forward-looking statements. The forward-looking statements contained in this press release speak only as of the date hereof here·of  
adv.
Of this.


hereof
Adverb

Formal or law of or concerning this

Adv. 1. hereof - of or concerning this; "the twigs hereof are physic"
 and the Companies disclaim dis·claim  
v. dis·claimed, dis·claim·ing, dis·claims

v.tr.
1. To deny or renounce any claim to or connection with; disown.

2. To deny the validity of; repudiate.

3.
 any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in the Companies' expectations or future events.
COPYRIGHT 2000 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:May 16, 2000
Words:442
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