CPA2Biz Inc., the online marketing and technology portal for the American Institute of CPAs, announced that it expects to deliver a second year of profitability when its fiscal year closes July 31.Executives for CPA2Biz said that projections show that the Web site's overall revenues should increase by 6 percent this year, to about $15.2 million. Their forecasts call for about $600,000 in net income.
Last October, CPA2Biz marked its four-year anniversary by announcing its first-ever profit - net income of $150,000 for the year ending July 31, 2005, on revenues of $14.3 million. Executives at the time said that the profits were fueled by a combination of strong growth, operational efficiencies and a significant reduction in depreciation expenses. The site had revenues of $13.2 million in the 2004 fiscal year, with a loss of roughly $3 million.
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