Labor SMART, Inc. Reports Record Revenue for February 2014
March 03 2014 - 8:10AM
Marketwired
Labor SMART, Inc. Reports Record Revenue for February 2014
Same Branch Sales Continue to Increase Year-Over-Year
HIRAM, GA--(Marketwired - Mar 3, 2014) - Labor SMART, Inc.
(OTCQB: LTNC) (the "Company"), an emerging provider of on-demand
blue collar staffing primarily in the southeastern United States,
today announced record February revenue as well as an increase in
same branch sales year over year. For those offices that have been
open for at least one year, February 2014 revenue was $959,472
compared to $778,748 one year ago for the same branches. This
23 percent increase was achieved despite negative effects from
significant weather-related issues that occurred during the month
in the Southeastern US. Overall February 2014 revenue for
Labor SMART was $1,413,126 compared to $778,748 for the same month
prior year, representing an 81% year over year increase.
Ryan Schadel, Labor SMART's CEO stated, "We were extremely
pleased with this revenue growth in February as weather-related
events negatively impacted many businesses in the US, particularly
in our primary areas of operations during the month. Without
these weather-related issues, we believe our revenue would have
been much higher than what was achieved. This marks the fifteenth
straight month we have recorded a year-over-year increase in
revenue at branches that were open at least one year."
Labor SMART reported a significant increase in revenue last
month as well and recently reported that its 2013 revenue was 130.7
percent higher than that recorded in 2012. "We are part of a
growth industry as more and more companies choose to outsource many
jobs rather than deal with new regulatory employment issues," Mr.
Schadel said. He added that the company intends to continue to grow
organically, to open new stores and explore acquisitions that would
be accretive to the company's revenue and earnings.
About Labor SMART, Inc.
Labor SMART, Inc. provides On-Demand temporary labor to a
variety of industries. The Company's clients range from small
businesses to Fortune 100 companies. Labor SMART was founded to
provide reliable, dependable and flexible resources for on-demand
personnel to small and large businesses in areas that include
construction, manufacturing, hospitality, event-staffing,
restoration, warehousing, retailing, disaster relief and cleanup,
demolition and landscaping. Labor SMART believes it can make a
positive contribution each and every day for the benefit of its
clients and temporary employees. The Company's mission is to be the
provider of choice to its growing portfolio of customers with a
service-focused approach that enables Labor SMART to be seen as a
resource and partner to its clients.
Safe Harbor Statement
This release contains statements that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These statements appear in a number of places
in this release and include all statements that are not statements
of historical fact regarding the intent, belief or current
expectations of Labor SMART, Inc., its directors or its officers
with respect to, among other things: (i) financing plans; (ii)
trends affecting its financial condition or results of operations;
(iii) growth strategy and operating strategy. The words "may",
"would", "will", "expect", "estimate", "can", "believe",
"potential", and similar expressions and variations thereof are
intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond Labor SMART, Inc.'s ability
to control, and that actual results may differ materially from
those projected in the forward-looking statements as a result of
various factors. More information about the potential factors that
could affect the business and financial results is and will be
included in Labor SMART, Inc.'s filings with the U.S. Securities
and Exchange Commission.
Contact: Beverly Jedynak Martin E. Janis & Company, Inc.
312-943-1123
bjedynak@janispr.com
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