Labor SMART, Inc. September Revenue Jumps 29.16% Year-over-Year
September 30 2014 - 7:45AM
Access Wire
Labor SMART, Inc.
September Revenue Jumps 29.16% Year-over-Year
Year-to-Date Revenue
Exceeds $18,000,000
HIRAM, GA / ACCESSWIRE / September 30, 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 record September revenues, continuing a long streak of
year-over-year increases. The Company also announced that
Year-to-Date revenue for 2014 has exceeded $18,000,000.
Company-wide revenue for the four week month ended September 26,
2014 was $2.13 million, a 29.16% increase compared to September
2013 revenue of $1.65 million. Among the 15 branches open one year
or more at September 26, 2014 revenue was up 9.25%, affected by the
culling of low margin and high risk business in July that
represented a year-over-year reduction of $244,230 in revenue
during the month of September.
"September marked the 22nd consecutive month of year over year
revenue increases. For such a young organization, our track record
for delivering growth is stellar. While consistently delivering
year over year revenue growth, we have also demonstrated our
ability to drive gross profit margin growth. The gross profit
margins we report in our next 10Q will be nothing short of
spectacular in a year over year comparison," said Ryan Schadel,
President and CEO of Labor Smart.
He continued, "We are substantially self-insured in 14 states
and we are now looking to add additional states to our policy which
will further improve gross profit margins. Additionally, we are
very close to breaking the $600,000 per week revenue level, which
would be a milestone for Labor Smart and sets the stage for
profitability in early to mid 2015."
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.
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