Labor SMART, Inc. Provides Shareholder Update
July 27 2015 - 07:30AM
InvestorsHub NewsWire
Atlanta, GA -- July 27, 2015 -- InvestorsHub NewsWire
-- Labor
SMART, Inc. (OTCQB: LTNC) (the "Company"), a leader
in providing on-demand blue collar staffing primarily in the
southeastern United States, today provided an update on its
business strategy and highlights from preliminary
2nd Quarter 2015
results.
"To say we've
had a very active and productive first half of 2015 is an
understatement. In addition to
strengthening our core business during the 2nd Quarter, Labor SMART has been
actively engaged in a number of exploratory conversations with
various parties seeking opportunities to leverage our existing
infrastructure and sales channels. Potential opportunities could
include licensing the Labor SMART brand, sales and service
partnerships, or franchising. And as expected, we have been
approached by several competitors seeking to acquire some or all of
our operations, or seeking arrangements to operate in a partnership
capacity with us in new markets," stated
Ryan Schadel, Chairman and Chief
Executive Officer of Labor SMART. "Our business is performing well
and we have some very exciting opportunities to assess. I am
particularly excited about ongoing developments with Skill Corps, a
business unit we launched earlier this year. The potential
scalability of the Skill Corps concept could be a game changer, not
just for Labor SMART, but for the staffing industry. I look forward
to providing more substantial updates about progress with Skill
Corps in the near future."
"In line with
our shift in strategy to focus on profitability, a number of
underperforming branch locations were closed at the beginning of
the 2nd Quarter of 2015.
Additionally, we continue to reduce our exposure to low margin
business, which is noticeable in our increasing profit margins,"
said Mr. Schadel. "I expect to report top
line revenue of $6.37 million for the quarter ended June 26, 2015
with record gross profit margins in our upcoming 10Q."
RECENT
ACHIEVEMENTS AND MILESTONES
- Added over
300 new clients during Q2
- Large
Deductible Insurance Program renewed with a 30% reduction in
funding cost
- Entered into
an agreement to provide CDL drivers to a large international
package delivery company
Mr. Schadel also noted that Labor
SMART is still actively seeking acquisition opportunities in
on-demand staffing as well as other segments of the staffing and
human resources industry or industries with similar metrics and
infrastructure requirements.
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.
Link back to original article on
NuziNet.com
Link back to Labor SMART, Inc. on
NuziNet.com
CONTACT
INFORMATION
Labor Smart (CE) (USOTC:LTNC)
Historical Stock Chart
From Feb 2024 to Mar 2024
Labor Smart (CE) (USOTC:LTNC)
Historical Stock Chart
From Mar 2023 to Mar 2024