Atlanta, GA / ACCESSWIRE / December 3, 2014 / Labo
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Posted On: 12/07/2014 12:17:35 PM
Atlanta, GA / ACCESSWIRE / December 3, 2014 / Labor SMART, Inc. (LTNC) (the “Company”), a leader in providing on-demand blue collar staffing primarily in the southeastern United States, is pleased to announce 20% revenue growth to $1,633,364 for the November 4-week comparable time period versus a year ago. This continues a 24-month streak of year-over-year increases for the Company. Year-to-Date 2014 revenue has exceeded $22.5 million, compared to $16.6 million for all of 2013.
“Business demand and performance remains strong as we continue to demonstrate healthy growth,” said Ryan Schadel, Chairman and Chief Executive Officer of Labor SMART. “Key business changes and decisions over the past few months, including the focus of higher-margin business and self-insurance, have improved profitability. We are working aggressively on our capital structure situation, which includes a strategy to minimize the equity dilution of the current Convertible Notes, engage with larger shareholders for stock support and stability and protect shareholder value.”
Mr. Schadel continued, “2014 has proven to be a stellar year for Labor SMART. We have doubled the size of our branch network, increased gross margins by several hundred basis points, and set several new weekly revenue milestones along the way. Our plans for 2015 are being updated in light of recent developments and I expect to provide more details to shareholders in the near future that should paint a clear picture of our path to profitability as well as the growth proposition that Labor SMART represents.”
“Business demand and performance remains strong as we continue to demonstrate healthy growth,” said Ryan Schadel, Chairman and Chief Executive Officer of Labor SMART. “Key business changes and decisions over the past few months, including the focus of higher-margin business and self-insurance, have improved profitability. We are working aggressively on our capital structure situation, which includes a strategy to minimize the equity dilution of the current Convertible Notes, engage with larger shareholders for stock support and stability and protect shareholder value.”
Mr. Schadel continued, “2014 has proven to be a stellar year for Labor SMART. We have doubled the size of our branch network, increased gross margins by several hundred basis points, and set several new weekly revenue milestones along the way. Our plans for 2015 are being updated in light of recent developments and I expect to provide more details to shareholders in the near future that should paint a clear picture of our path to profitability as well as the growth proposition that Labor SMART represents.”
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