Labor SMART Achieves 71 Percent Growth Year Over Year in April
May 06 2014 - 7:50AM
Marketwired
Labor SMART Achieves 71 Percent Growth Year Over Year in April
Company Expects to Achieve $500,000 Weekly Revenue
HIRAM, GA--(Marketwired - May 6, 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 continued record revenue achievements for April
2014. Total revenue overall for April 2014 was $1,719,841, a 71.33
percent increase over the $1,003,791 achieved in April
2013.
The company also announced that it has completed integration of
the recently acquired assets of Shirley's Employment Agency of
Tulsa, OK. The transaction, as reported in an 8k filing with the
SEC on April 9, 2014, represents an acquisition cost of
approximately two times the expected EBITDA of the business.
Ryan Schadel, Labor SMART's CEO stated, "We continue to meet our
goals both in terms of revenue and addition of new offices and
remain confident that 2014 should be a breakout year for the
company."
Labor SMART's growth strategy of organic growth, new offices and
acquisitions is reflected in record revenues for the past 19
months. "We expect to see significant increases in revenue growth
as the year progresses, both as a result of coming into our
historically strong quarters as well as new office growth.
Additionally, we set a goal to exceed weekly revenue of $500,000
and I expect this milestone to be achieved in short order," said
Schadel.
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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