LOS ANGELES, Feb. 18, 2003 (PRIMEZONE) -- ManageSource Research announced today that it has released updated coverage of GTC Telecom Corp. (OTCBB:GTCC) with a Buy rating and a twelve-month target of $1.01 - $1.20. GTC has reported its third consecutive quarterly profit of $203,045, or $0.01/share. Gross margins have increased to 49% and SG&A has dropped 55% Y-Y, while liquidity has increased from 0.20 to 0.32 despite increased costs associated with the development of Perfexa Solutions. The Company is effectively in its final stages of development and rollout for Perfexa, its wholly-owned Business Process Outsourcing (BPO) division located in New Delhi, India. The BPO market is expected to reach approximately $170B by 2005 and the Company anticipates strong cost savings and exponential revenue growth as Perfexa begins operations during Q1, 2003.
ManageSource anticipates that they will be able to increase targets and recommendations over the next 12-24 months as GTC/Perfexa begins to capitalize on improved financial health & BPO revenues.
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