MURRIETA, Calif., April 26 /PRNewswire-FirstCall/ -- Forterus Inc.
(Pink Sheets: FTER), announced results from the first quarter of
its 2010 fiscal year.
Key Financial Highlights
Historical first quarter records were achieved in total revenue,
operating income, operating margin net income, EPS and cash flow
from operations as follows:
- Total revenue up 106 percent year over year
- Operating income up 483 percent year over year
- EPS up 550 percent to $0.013
- RPS up 81 percent to $0.123
Business Overview
Total revenue for the first quarter of 2010 grew 106 percent to
$1,885,802 compared to $915,543 in the first quarter of 2009.
Operating income for the first quarter increased 483 percent
to $199,132 compared to $34,105 in the first quarter of 2009.
Earnings Per Share (EPS) for the first quarter increased 550
percent to $.013 compared to
$.002 in the first quarter of 2009.
Revenue Per Share (RPS) increased 81 percent to $.123 compared to $.068 in the first quarter of 2009. The
company had 15,324,864 shares outstanding at the end of the first
quarter.
"2010 is off to a strong start for Forterus," stated CEO
Paul Howarth. "We achieved
historical first quarter highs in revenue and earnings. Our
ability to raise additional capital in the first quarter helped
contribute to our increase in marketing and bed count, which
enabled us to achieve stronger than expected Q1 results."
About Forterus Inc.
Forterus Inc. and its subsidiaries engage in diverse business
activities, including alcohol rehabilitation, and finance. For more
information Forterus and its A Better Tomorrow Treatment Center
subsidiary, please visit their respective websites at
http://www.forterushealthcare.com and http://www.abttc.com.
Forward Looking Statements
Application of the Safe Harbor of the Private Securities
Litigation Reform Act of 1995: This press release contains, and
Forterus may from time to time make, written or oral
'forward-looking statements' within the meaning of the U.S. federal
securities laws, which are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
All forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of
uncertainties and other factors, many of which are outside
Forterus's and/or its subsidiaries control that could cause actual
results to differ materially from such statements. In particular,
statements using words such as 'may,' 'should,' 'estimate,'
'expect,' 'anticipate,' 'intend,' 'believe,' 'predict,'
'potential,' or words of similar import generally involve
forward-looking statements.
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Contact:
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Paul Howarth, CEO, Forterus Inc.
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(888) 257-8345
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ir@forterus.com
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SOURCE Forterus Inc.