Labor SMART, Inc. August Revenue Jumps 25.22% Year-over-Year
September 03 2014 - 8:23AM
eTeligis
ATLANTA, GA(Eteligis Inc.)
ATLANTA, GA, United States, via ETELIGIS INC., 09/03/2014 - -
Labor SMART, Inc. (OTCQB: LTNC) (the "Company"), a leader in
providing on-demand blue collar staffing primarily in the
southeastern United States, today announced that the Company
continued to post record revenue for August, even as it culled a
large amount of revenue from its book of business in July.
Additionally, the Company announced that Year-to-Date revenue for
2014 has exceeded $16,000,000.
Company-wide revenue for the five week month ended August 29,
2014 was $2.641 million, a 25.22% increase compared to August 2013
revenue of $2.109 million. Among the 14 branches open one year or
more at August 29, 2014 revenue was up two percent, affected by the
culling of low margin and high risk business in July that
represented a year-over-year reduction of $375,968 during the month
of August.
"In August we continued to transition Labor SMART into a
stronger company as a result of our becoming substantially
self-insured in 14 states. Our revenue growth continues, as well as
very aggressive year-over-year gross margin improvements of more
than 500 basis points for the month of August."
Labor SMART, Inc. provides On-Demand temporary labor to a
variety of industries through 30 offices. 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
SOURCE: Labor SMART, Inc.
Associated Documentation:
http://www.eteligis.com/ViewSubmission.aspx?submissionRequest=27607
- Link to submission on http://www.eteligis.com
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