HICKORY, N.C., Nov. 13, 2014 /PRNewswire/ -- Fortran Corporation
(OTC: FRTN) a leading communications systems integrator announced
financial results for the quarter ending September 30th 2014 compared to the
same quarter 2013. Financial highlights for the quarters
respectively were:
- Revenues totaled $1,520,244,
increased 62% from $877,082
- Gross profit margin increased 42% for the Qtr.
- Operating income increased 58% to $248,199 from $103,585 respectively
"We recognized the benefit of investment decisions made in the
previous two fiscal quarters. Further, our Q1 results are the
efflorescence of acquisitions made in the latter half of FYE 2013
along with corporate-wide operating efficiency gains made over the
past six months and a high-margin revenue mix," stated Doug Rink, President and CEO. "The
tempestuous nature of our stock price could lead to a
recommendation to the board of directors to adopt a company's
common stock repurchase program or debt raise," he goes on to
say.
About Fortran Corporation:
Fortran Corp., is a leading communications systems integrator
through its subsidiaries, The New Telephone Company, Inc., B &
L Telephone LLC, CCI-Telecom, Inc., Fortran Communication, Inc.,
WynnCom, Inc., Fortran Corp. is dedicated to designing, sourcing,
implementing and maintaining today's complex communications
solutions for business and governments. Fortran services more
than 8,122 clients in 2 states with 3 offices in the
southeast. To learn more, please visit the Fortran Corp.
website at www.fortrancorp.com
Disclaimer
The press release is for information purposes only and is not
intended to constitute, and should not be construed as, an offer to
sell or a solicitation of any offer to buy shares of Fortran
Corporation in the United States
or in any other jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration, exemption from
registration or qualification under the securities laws of such
jurisdiction, and the distribution of this communication in
jurisdictions may be similarly restricted. The matters
discussed herein may also be affected by risk and uncertainties
described from time to time in Fortran Corporation's filings with
the OTC Markets News Service. The company assumes no
obligation to update any forward-looking statement.
SOURCE Fortran Corp.