Newly launched franchise model expected to leverage additional increases in government and commercial clientele in 2013
DALLAS , Aug. 27, 2012 /PRNewswire/ -- Firemans Contractors, Inc. (OTCBB: FRCN) (OTCQB: FRCN), a full-service contractor providing professional services for commercial and government clients, offering B2B commercial franchises and services in the pavement maintenance industry, announced today that the company benefited from a total combined repeat business of 36% and 61% in 2010 and 2011, respectively, with the stimulus seeming to stem from continuous additions of Fortune 500 companies and large property management companies to the client portfolio.
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Management expects approximately 82% of their clients to return in 2013 with at least an estimated increase of 62% in its Fortune 500 client portfolio. Renee Gilmore , CEO of Firemans Contractors describes these stats as being, "significant to the growth value of our company."
This growth is easily identifiable. During Fiscal Year 2011 (ending June 30 th ), out of 272 contracted jobs, approximately 3% were contracted with Fortune 500 companies. This represents roughly 13% of the company's revenues deriving from Firemans Contractors' Fortune 500 clients. In Fiscal 2012, the number of contracted jobs increased by 7.7%. Approximately 8% of the jobs were contracted with Fortune 500 companies; representing 21% of the company's revenues.
The ratio of repeat business from Firemans Contractors' Fortune 500 customers also increased between fiscal 2011 and 2012. Of the company's repeat customers in 2011, 67% was attributed to Fortune 500 companies. 89% of repeat customers were attributed to Fortune 500 clients during fiscal 2012.
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