updated 9/8/2010 9:16:09 AM ET 2010-09-08T13:16:09

CLEVELAND, Sept. 8, 2010 (GLOBE NEWSWIRE) -- SearchPath HCS, Inc. (Pink Sheets:SRCP), a leading Human Capital Solutions Company, today announced that for the first 8 months of 2010, SearchPath International, a wholly-owned subsidiary of the Company, recorded a 46% increase in average royalties per franchised office.

During the calendar year 2010 thus far, SearchPath International (SPI) has added 6 new franchised locations and currently has 4 additional franchise contracts in the final stages of negotiations. Additionally, SPI has terminated 14 underperforming or "non compliant" franchise units in order to increase overall revenue and profitability among its compliant franchise offices, of which there are now 65 worldwide.

"During the last two quarters of fiscal 2010 and the first quarter of 2011 which we are now in, SearchPath International has made tremendous efforts to increase franchisee value, both at the corporate and individual office levels. In order to accomplish this, we concurrently tightened up the enforcement of revenue and activity compliance statistics for our individual franchises while ramping up operational support and increased franchise sales activity," commented Chief Executive Officer of SearchPath HCS, Inc. Thomas K. Johnston.

"We attribute the significant improvement in our individual office performance to the quality and strength of our core training and support programs as well as the beginning of a recovery for the talent and executive search markets," continued Johnston.

About SearchPath HCS, Inc.

SearchPath HCS, Inc. is a rapidly growing human capital solutions firm and the parent company of SearchPath International, Inc. (SPI), www.searchpath.com . SPI is a U.S.-based talent acquisition professional services firm with 65 franchises nationwide. Founded in 2005, SPI's goal is to become the premier, vertically-integrated provider of talent acquisition professional services in the world. In addition to being a stand-alone talent and acquisition services firm, SPI is also a franchisor of its business that has redefined the way clients do business with recruiters by implementing a client-centric approach that combines proven industry best practices and revolutionary concepts.

Safe Harbor Statement

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company and SPI set forth herein and those preceded by or that include the words "believes,'' "expects,'' "given,'' "targets,'' "intends,'' "anticipates,'' "plans,'' "projects,'' "forecasts'' or similar expressions, are "forward-looking statements." Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties which could cause the Company's future results to differ materially from those anticipated. The Company assumes no obligation to update any of the information contained or referenced in this press release.

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