Firemans Contractors Increase Revenues 56%, Core Operating Expenses Down 49%, No Signs of Slowing as Franchise Growth Continues
October 18 2013 - 7:15AM
Marketwired
Firemans Contractors Increase Revenues 56%, Core Operating Expenses
Down 49%, No Signs of Slowing as Franchise Growth Continues
Firemans Contractors 10K Confirms Company Is Building a Strong
Brand Through Franchising
FORT WORTH, TX--(Marketwired - Oct 18, 2013) - Firemans
Contractors, Inc. (OTCQB: FRCN) a Commercial Contractor providing
professional services for commercial and government clients,
focusing on developing a Commercial Business to Business Franchise
Opportunity discusses 10K financials reported October 16th,
2013.
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Income/Expense |
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July 12 - June 13 |
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July 11 - June 12 |
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$ Change |
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% Change |
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Revenues |
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$1,009,573 |
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$702,295 |
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+$303,589 |
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+43% |
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Franchise Fees/Royalties |
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$91,246 |
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$0.00 |
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+$91,246 |
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+100% |
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Total Income |
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$1,100,819 |
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$702,295 |
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+$394,835 |
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+56% |
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Gross Profit after COGs |
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$309,428 |
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$105,158 |
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+$204,270 |
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+194% |
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*Core Operating Expenses |
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$277,667 |
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$542,765 |
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$< 265,098 > |
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-49% |
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*note: Core Operation Expenses does not include officers'
accrued compensation, segregated public costs and other fees
accumulated as a result thereof. These internal calculations
are used by officers/directors to reflect business operation
profitability.
SEC 10K Filing:
http://www.sec.gov/Archives/edgar/data/1471271/000119983513000673/firemans_10k-15756.htm
The Company has increased its overall revenues by 56% from
FYE2012 and reduced core operating expenses by 49%. The commitment
to building a strong brand through franchising resulted in its
first franchisee launching "Station1" in July 2012. The first full
year of operation for Station1 was a huge success resulting in a
profit of $60,378. Profitability for Station1 was 23% as of June
2013. In December 2012, the Company launched its second
franchise "Station2" which started operations in January
2013. As an owner-operator, they are experiencing an
approximate 25% profit with $60,349 in revenues their first 6
months of business.
Renee Gilmore, CEO of Firemans Contractors, stated, "There are a
lot of exciting elements happening and we are determined to bring
value and growth to our company and shareholders. We are focused on
new strategic franchisee partnerships that will accelerate the next
phase of Firemans Contractors growth and business. The company
believes this strategy should result in substantial growth and
superior returns for current and future shareholders over the long
term."
Mrs. Gilmore continues, "We will continue to keep the
shareholders updated and we are hopeful to begin making
announcements in the very near future regarding new franchisees. On
behalf of the management team, I'd like to thank the shareholders
for their support and I look forward to the future and growth
ahead."
FRCN recent news:
DTC Clearance & Acceptance; On October 10, 2013 the company
released information about receiving The Depository Trust Company
letter of clearance and its acceptance on depository and book-entry
transfer services for Firemans Contractors. DTC was created by the
securities industry to improve efficiencies and reduce risk in the
clearance and settlement of securities transactions. Today, DTC is
the largest securities depository in the world. Including
securities issued in the U.S. and 121 other countries, DTC has on
deposit 3.6 million securities worth about $35 trillion. For more
information about DTC please visit the SEC website or view this
link; http://www.sec.gov/investor/alerts/dtcfreezes.pdf
About Firemans Contractors:
Firemans Contractors, Inc. (OTCQB: FRCN) is a full-service
contractor providing professional services for commercial and
government clients, focused on developing a Business to Business
Franchise Opportunities throughout the United States. Its services
include Road Improvements, Pavement Maintenance, Seal Coating,
Parking Lot Striping, Pavement Marking, Asphalt Maintenance and
Repair, and ADA Compliance. Firemans Contractors brings a
professional value system delivering outstanding results through
honorable customer relationships and repeat business. Local
firefighters are supported by a portion of profits which are
donated to local Firefighter Associations. Firemans
Contractors is a proud member of the Franchise Association (IFA)
and The Veteran Transition Franchise Initiative (VetFran). As
member, Firemans Contractors is expanding through franchise
development, aimed to assist the Company in expanding its market
share. As a franchisor, the Company will provide franchisees
with training and support, including the proprietary Firebase™
software platform, which is included along with other business
tools and training for new franchisees of Firemans
Contractors. For more information about Firemans Contractors,
visit: www.FiremansContractors.com
This press release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Act of 1934. These forward-looking
statements are based largely on the expectations or forecasts of
future events, can be affected by inaccurate assumptions, and are
subject to various business risks and known and unknown
uncertainties, a number of which are beyond the control of
management. Therefore, actual results could differ materially from
the forward-looking statements contained in this press release.
Additional information respecting the factors that could materially
affect the Company and its operations are contained in its annual
report on Form 10K and Form 10-Q as filed with the Securities and
Exchange Commission. The Company undertakes no obligation to
publicly update or revise any forward-looking statement.
Renee Gilmore CEO/Chairwoman Firemans Contractors, Inc. 1 (800)
475-1479 Email Contact http://www.firemanscontractors.com/
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