SAN FRANCISCO, May 14, 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 (Nasdaq:WCOM) 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(R) Enterprises, Inc. (NYSE:MVL), and electronics retailer Best Buy Co., Inc. (NYSE:BBY) 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.