Labor SMART, Inc. Closes Out Its Second Full Year of Operations With $16,558,149 in Revenues for 2013
January 02 2014 - 7:55AM
Marketwired
Labor SMART, Inc. Closes Out Its Second Full Year of Operations
With $16,558,149 in Revenues for 2013
Year Over Year Comparisons Reflect a 130% Revenue Increase in
2013
HIRAM, GA--(Marketwired - Jan 2, 2014) - Labor SMART, Inc.
(OTCQB: LTNC) (the "Company") an emerging provider of on-demand
temporary staffing, today announced year end revenues of
$16,558,149 as the Company closes out 2013.
In a Year-Over-Year (YOY) comparison, the Company recorded
revenues of $16,558,149 for 2013 vs. $7,175,846 in 2012, reflecting
a significant 130.7% revenue increase over the preceding 12 month
period.
A recent article titled, "Staffing 2014: Next Year's Hiring
Supermodels" predicts continued prospects of growth in profitable
niches with staffing firms that provide just-in-time labor at an
unprecedented level of service, leading the way. The article goes
on to quote, "Temporary employment is near a historic high in terms
of penetration of the labor market" and states, "Employment in
temporary help services reached 2.7 million in July 2013, up by
170,000 from a year earlier and nearly a million higher than in
2009, according to a report from the Bureau of Labor
Statistics."
Research Analyst, Timothy Landhuis of the U.S. Staffing
Industry, recently wrote a report forecasting approximately $6
billion in new orders for the $100 billion industry in 2014, which
he determined is a significant increase for the temporary staffing
industry.
Ryan Schadel, Labor SMART's CEO, stated, "Undoubtedly, we have
positioned ourselves to be in the right place at the right time
within the on-demand labor industry. This last year proved to be an
important stepping stone in validating the success of our strategic
business model with our ability to show exponential growth, asset
accumulation and increased gross margins. Our model also shows that
as our business scales, profitability scales with it, which we feel
will eventually turn into positive net income as we continue to
mature and obtain additional critical mass." He also stated, "Our
2014 strategic growth plans are already being implemented, as we
anticipate a fast start for Labor SMART in the new year, with
continued exponential growth and greater market penetration.
The Company also confirmed that it elected to prepay the
convertible promissory note dated June 4, 2013 for the principle
amount of $106,000. No shares were issued as part of the
prepayment.
Staffing 2014: Next
Year's Hiring Supermodels Article:
http://hiring.monster.com/hr/hr-best-practices/recruiting-hiring-advice/strategic-workforce-planning/staffing.aspx
About Labor SMART, Inc.
Labor SMART, Inc. provides On-Demand temporary labor to a
variety of industries. Our clients range from small businesses to
fortune 100 companies. Labor SMART was founded to provide a
reliable, dependable, and flexible resource for on-demand personnel
to small and large businesses. Every day we provide manpower for
jobs in construction, manufacturing, hospitality, events,
restoration, warehousing, retail, disaster relief and more. As one
of the fastest growing temporary labor providers, our goal is to
become a nationwide resource and partner for our clients. We take
pride in the belief that we can make a positive impact each and
every day for the benefit of both our client and our temporary
employees. Our mission is to be the provider of choice to our
growing community of customers, with a service focused approach,
that positions us as a resource and partner for their business.
Safe Harbor
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 Securities and
Exchange Commission.
Public Relations and Shareholder Information Joseph M. Vazquez
III Phone: (678) 279-5810 Email:
shareholderrelations@laborsmart.com
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