SAN FRANCISCO, May 15, 2002 (PRIMEZONE) -- ManageSource Research announced today that it has initiated coverage of GTC Telecom Corp. (OTCBB:GTCC) and has assigned a BUY rating and a twelve-month price target of $0.79 - $1.00. ManageSource is citing consistent earnings growth, gross sales revenue, highly effective cost management and strong intangible prospects as the primary drivers for their recommendation. GTC Telecom is a low-cost reseller of telecommunications and related products and services utilizing MCI/Worldcom's global telecom infrastructure.
"GTC has a very strong financial foundation," remarked ManageSource President, Douglas Rogers, "they will gross nearly $20 million in sales during FY 2002, have acceptable debt that they have been committed to aggressively servicing and clearly contain their internal operating expenditures and capital investment to boost shareholder value. This, combined with their recent sales and marketing agreements with Marvel( Enterprises, Inc., and electronics retailer Best Buy Co., Inc. make us very positive on GTC's potential."
The full research report can be viewed and downloaded from the ManageSource Research website located at http://www.managesource.com .
About GTC Telecom. Founded in 1997, GTC Telecom is a telecommunications company that provides long distance service to residential and business customers throughout the United States. GTC Telecom offers one of the lowest long distance rate plans in the industry, as well as basic, unlimited 56K-dialup Internet access. For more information please visit www.gtctelecom.com.
About ManageSource Research & Communications. ManageSource is an independent analysis and research firm located in San Francisco, California. ManageSource specializes in producing independent Equity Research for small public companies and developing and delivering dynamic, customized financial modeling solutions, such as product pricing analysis, revenue models, cost analysis, discounted cash flows and profit & loss statements for both public and private companies. ManageSource Research was founded in 1998 and can be reached over the Internet at http://www.managesource.com, email: info@managesource.com, or via telephone at 415-793-6663.
Safe Harbor and Disclaimer: Managesource Research is written and produced as information source only, and is not a solicitation to buy or sell securities. Certain statements in this report pertaining to the Company's earnings, development and future growth potential are considered "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as defined in the Private Securities Litigation Reform Act of 1995. ManageSource intends that such statements about a company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Because such statements are subject to risks and uncertainties, actual results may differ significantly from those expressed or implied by such forward-looking statements. The information contained in this Managesource Research report has been carefully compiled from sources deemed to be reliable, but its accuracy is not guaranteed. This report may not be construed as investment advice. Investing in securities is speculative and carries a high degree of risk. Past performance does not guarantee future results. All information contained in this report should be independently verified. Investors are reminded to perform their own due diligence with respect to any investment decision. Independently investigate and fully understand all risks before making any investment. This report was prepared by ManageSource Research; a division of Rogers Consulting Group. Neither Managesource Research nor Rogers Consulting Group guarantees its accuracy or completeness. Officers, directors, and employees of Managesource Research or Rogers Consulting Group does not hold an equity position in the above-mentioned security and has received financial remuneration in the form of cash from the company discussed herein for research services, either directly or indirectly. Current rates are published on the ManageSource Research website. For further information, please email info@managesource.com.