Labor SMART, Inc. Reports November Growth
December 03 2014 - 7:30AM
Access Wire
YTD Revenue Now Exceeds $22
Million
Atlanta, GA / ACCESSWIRE / December 3, 2014 /
Labor SMART, Inc. (LTNC) (the "Company"), a leader in providing
on-demand blue collar staffing primarily in the southeastern United
States, is pleased to announce 20% revenue growth to $1,633,364 for
the November 4-week comparable time period versus a year ago. This
continues a 24-month streak of year-over-year increases for the
Company. Year-to-Date 2014 revenue has exceeded $22.5 million,
compared to $16.6 million for all of 2013.
"Business demand and performance remains strong as we continue
to demonstrate healthy growth," said Ryan Schadel, Chairman and
Chief Executive Officer of Labor SMART. "Key business changes and
decisions over the past few months, including the focus of
higher-margin business and self-insurance, have improved
profitability. We are working aggressively on our capital structure
situation, which includes a strategy to minimize the equity
dilution of the current Convertible Notes, engage with larger
shareholders for stock support and stability and protect
shareholder value."
Mr. Schadel continued, "2014 has proven to be a stellar year for
Labor SMART. We have doubled the size of our branch network,
increased gross margins by several hundred basis points, and set
several new weekly revenue milestones along the way. Our plans for
2015 are being updated in light of recent developments and I expect
to provide more details to shareholders in the near future that
should paint a clear picture of our path to profitability as well
as the growth proposition that Labor SMART represents."
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.
Contacts:
Hayden IR
917-658-7878
hart@haydenir.com
SOURCE: Labor SMART, Inc.
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