Labor SMART, Inc. September Revenue Jumps 29.16% Year-over-Year
Year-to-Date Revenue Exceeds $18,000,000
HIRAM, GA / ACCESSWIRE / September 30, 2014 / Labor SMART, Inc. (OTCQB: LTNC) (the "Company"), a leader in providing on-demand blue collar staffing primarily in the southeastern United States, today announced record September revenues, continuing a long streak of year-over-year increases. The Company also announced that Year-to-Date revenue for 2014 has exceeded $18,000,000.
Company-wide revenue for the four week month ended September 26, 2014 was $2.13 million, a 29.16% increase compared to September 2013 revenue of $1.65 million. Among the 15 branches open one year or more at September 26, 2014 revenue was up 9.25%, affected by the culling of low margin and high risk business in July that represented a year-over-year reduction of $244,230 in revenue during the month of September.
"September marked the 22nd consecutive month of year over year revenue increases. For such a young organization, our track record for delivering growth is stellar. While consistently delivering year over year revenue growth, we have also demonstrated our ability to drive gross profit margin growth. The gross profit margins we report in our next 10Q will be nothing short of spectacular in a year over year comparison," said Ryan Schadel, President and CEO of Labor Smart.
He continued, "We are substantially self-insured in 14 states and we are now looking to add additional states to our policy which will further improve gross profit margins. Additionally, we are very close to breaking the $600,000 per week revenue level, which would be a milestone for Labor Smart and sets the stage for profitability in early to mid 2015."
Labor SMART, Inc. provides On-Demand temporary labor to a variety of industries through 30 offices. 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.
Contact:
Beverly Jedynak
Martin E. Janis & Company, Inc.
312-943-1123
[email protected]
SOURCE: Labor SMART, Inc.