N@N

Propalms, Inc. Increases Its Total Assets by 83 Percent for the Nine Months Ended October 31, 2009 as Compared to Prior Year

^{Published on 2009-12-14 06:37:55 - Market Wire}
 

MALTON, ENGLAND--(Marketwire - December 14, 2009) - Propalms, Inc. (PINKSHEETS: [ PRPM ]) is pleased to announce that the Company has reported total assets of $1,240,150 for its fiscal third quarter ended October 31, 2009, as compared to total assets of $677,562 for the fiscal third quarter ended October 31, 2008, which is an 83 percent increase. The increase in total assets can be partially attributed to the Company's recent acquisition of Focus Systems, Inc., which is a service orientated, desktop virtualization, remote desktop and VoIP information technology provider. For the nine months ending October 31, 2009, Propalms increased its revenues by 25 percent, as well as increasing its gross profit by 189 percent as compared to the same period in the prior year. The Company reported net revenues and a gross profit of $644,300 and $504,547 respectively as compared to net revenues of $513,382 and a gross profit of $174,498 for the nine months ended October 31, 2009 versus the nine months ended October 31, 2008.

With the release of Propalms latest versions of its VPN and TSE products, Propalms was able to add on new customers to its existing client base. This resulted in Propalms increasing its deferred revenues for the nine months ended October 31, 2009 by 87 percent as compared to the same period in the prior year. Propalms has been able to strengthen its distribution channels globally as well as its partnerships / relationships with companies such as Toyota, Microsoft and VMware. Over the last nine months, the Company has built a presence in India and Asia converting some key Citrix customers over to Propalms software.

"We are pleased to provide our shareholders with our financial statements for the third quarter of 2009. Propalms is delighted about the achievements that we have made this past nine months. We look forward to taking advantage of the new customer channels that have been created by the latest releases of our VPN and TSE 6.0 software," stated Robert Zysblat, President of Propalms, Inc.

This Quarterly Report can also be found on the Company's website at [ http://www.propalms.com ] or [ www.pinksheets.com ].

About Propalms, Inc.:

Propalms, Inc. ([ www.propalms.com ]) is a global provider of application delivery and secure remote access solutions for Terminal Services and Virtual Desktop Infrastructures. Delivering to enterprises of all sizes, Propalms offers reliable, scalable and affordable solutions that simply work. Our belief is that application delivery solutions should be flexible, dynamic and, above all, simple to use.

Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements'' within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.