HearAtLast Amends Q2 Financials and Reports 53% Year Over Year Reduction in Operating Expenses
November 02 2009 - 4:26PM
Marketwired
(PINKSHEETS: HRAL) HearAtLast Holdings, Inc., a leading provider of
suitable affordable solutions to clients with hearing needs in the
billion dollar hearing loss market, announced today that the
Company has posted its amended earnings report on pinksheets.com.
The posted earnings reflect the fiscal second quarter period
covering 04/01/2009 - 06/30/2009.
The Company recorded gross profits of USD $382,463 for Q2 of
FY2009, a 19% increase compared to Q2 FY2008 gross profits of US
$320,564. Operating expenses for the same period Q2 of FY2009
decreased 53% to US $738,403 compared to Q2 FY2008 of US
$2,051,150. HearAtLast also reduced their debt ratio. The debt
ratio is the proportion of a firm's total assets that are being
financed with borrowed funds.
"We are very pleased with the direction of our company. We
expect gross profits from all stores to continue to increase while
operating expenses and debt ratio decline due to aggressive
restructuring and reduced overheads. Despite the reduction in
overhead, clinic performance has been enhanced as the companies'
clinic base has entered year two of their operations. We still
maintain our focus on becoming Canada's largest network of hearing
stores," stated Matthew Sacco, President and CEO.
About HearAtLast
HearAtLast Holdings, Inc. is a Nevada corporation that owns and
operates its wholly-owned subsidiary of hearing stores co-located
within select Wal-Mart stores throughout Canada. Their chain of
hearing stores specializes in the sale of digital hearing aids and
testing services. The Company is the affordable hearing solution
for Canadians, combining the most sought after retail space in
North America with convenience and location. HearAtLast provides
State of the Art Hearing Testing and Dispensing services to
individuals with all types of measurable hearing loss.
HearAtLast facilities sell a selection of high quality brand
name hearing aids and also offer complimentary screening tests,
clinical hearing tests, high end ear buds and assistive listening
devices. The Company's mission is to consolidate the highly
fragmented hearing services industry while providing unparalleled
service to the estimated 30+ million hearing impaired individuals
throughout North America. After a prescription is approved, the
independent on-site audiologists and hearing aid practitioners at
HearAtLast utilize a refined process to dispense the latest in Name
Brand digital hearing aids.
For more information please visit www.hearatlast.com
Safe Harbor
Statements about the Company's future expectations and all other
statements in this press release other than historical facts, are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The Company intends that such
forward-looking statements be subject to the safe harbors created
thereby.
The above information contains information relating to the
Company that is based on the beliefs of the Company and/or its
management, as well as assumptions made by any information
currently available to the Company or its management. When used in
this document, the words "anticipate," "estimate," "expect,"
"intend," "plans," "projects," and similar expressions, as they
relate to the Company or its management, are intended to identify
forward-looking statements. Such statements reflect the current
view of the Company regarding future events and are subject to
certain risks, uncertainties and assumptions, including the risks
and uncertainties noted. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
to be incorrect, actual results may vary materially from those
described herein as anticipated, believed, estimated, expected,
intended or projected. In each instance, forward-looking
information should be considered in light of the accompanying
meaningful cautionary statements herein. Factors that could cause
results to differ include, but are not limited to, successful
performance of internal plans, the impact of competitive services
and pricing and general economic risks and uncertainties.
Investor Relations: HearAtLast Holdings, Inc. Aldo Rotondi
416-436-3795 investorrelations@hearatlast.com
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