Professional Diversity Network, Inc. (IPDN) experiences an incline of 18.12% in the aftermarket. However, the last trading session closed at $1.38 with an increase of 8.66%.
Financial Results of Quarter Ended 30th June 2021
On 16th August 2021, IPDN announced the financial results of the quarter that ended on June 30, 2021. Firstly, total revenues grew by about $509,000, compared to approximately $952,000 in the same period the previous year. The rise was primarily due to an increase of about $580,000 in recruiting services revenues in the current quarter. Secondly, IPDN Network produced about $1,152,000 in sales for the three months ended June 30, 2021. Improvements to the e-commerce platform and new sales collaborations, and greater new client acquisitions all contributed to the growth in revenues.
Thirdly, the cost of revenues for the three months ended June 30, 2021, was about $260,000, up to $90,000 or 53% over the same period the previous year. Lastly, general, and administrative expenditures dropped by about $962,000 compared to the same period the previous year.
Financial Results for Quarter Ended on 31st March 2021
IPDN announced financial results for the quarter ended on March 31, 2021, on 17th May 2021. Firstly, total revenues grew by about $502,000 to roughly $1,484,000 in the three months ended March 31, 2021. The rise was mostly due to a $608,000 increase in recruiting services revenues in the current quarter. Secondly, the cost of revenues was about $261,000, up to $88,000 over the same period the previous year.
Thirdly, the net loss was about $756,000 from continuing operations, down from a net loss of about $1,422,000. Lastly, NAPW Network sales were around $264,000, down from around $385,000 in the preceding year’s same period. The income drop was largely due to a sustained decline in historical membership retention rates, as well as the ongoing consequences of COVID-19 as new membership registration slowly returns.
IPDN announced the Launch of Kappa Alpha Psi Fraternity, Inc. Job Board
On 1st April 2021, IPDN announced the launch of The Kappa Alpha Psi Fraternity, Inc. employment board. It is a fully integrated job board featured on A’s website. The historically black fraternity Kappa Alpha Psi is the second oldest.
IPDN, as one of the country’s largest and most diversified networks, teamed up with Kappa to create an easy-to-use employment board for their over 170,000 initiated members on the Kappa website. The company is thrilled to launch the job board to improve the possibility of recruiting high-level individuals and give Kappa members a wide choice of professions from many industries and organizations in the IPDN network.
