Labor SMART, Inc. Sees Strong Summer Ahead
June 25 2014 - 10:15AM
Marketwired
Labor SMART, Inc. Sees Strong Summer Ahead
Company Tells Chicago Investors That Revenue for Second Quarter
Is on Track to Be Best Ever in Company's History
CHICAGO, IL--(Marketwired - Jun 25, 2014) - Labor SMART, Inc.
(OTCQB: LTNC) (the "Company"), a leader in providing on-demand blue
collar staffing primarily in the southeastern United States, today
said that it sees a strong summer ahead and that its second quarter
revenue is on track to be the best ever recorded in the Company's
history.
Meeting with the members of the financial community in Chicago,
Ryan Schadel, Labor SMART's CEO said, "All indications point to
very strong second and third quarters." He noted that Labor SMART
is experiencing on a regional level much the same activity and
confidence that was reflected in the recent Markit Economics
preliminary index of US Manufacturing survey released earlier this
week. The recently released index showed that US manufacturing
increased to 57.5 in June, the highest since May 2010.
"We are seeing similar confidence and increased activity not
only in the manufacturing sector, but from construction,
hospitality and other segments as well. While some of this can be
attributed to pent-up demand following the many weather-related
issues in the first half of the year, there is a definite increase
in activity that is attributable to better business conditions,"
said Schadel.
Schadel added that Labor SMART expects that revenue for the
second quarter will be the best the company has recorded in its
history and that revenue should continue to grow in the third
quarter, particularly among those stores that have been open for
nine months or longer.
Labor SMART has been growing its business, both organically
through new offices as well as with certain strategic acquisitions.
The company recently became self-insured in 14 states. This new
large deductible worker's compensation insurance policy will
improve cash flow, result in a lower cost of sales and add one to
three hundred basis points to the company's gross profit margins,
all of which should begin to be reflected in third quarter 2014
results.
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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