HIRAM, GA - March 3, 2014 - Labor SMART, Inc. (OTCQB: LTNC) (the "Company"), an emerging provider of on-demand blue collar staffing primarily in the southeastern United States, today announced record February revenue as well as an increase in same branch sales year over year. For those offices that have been open for at least one year, February 2014 revenue was $959,472 compared to $778,748 one year ago for the same branches. This 23 percent increase was achieved despite negative effects from significant weather-related issues that occurred during the month in the Southeastern US. Overall February 2014 revenue for Labor SMART was $1,413,126 compared to $778,748 for the same month prior year, representing an 81% year over year increase.
Ryan Schadel, Labor SMART's CEO stated, "We were extremely pleased with this revenue growth in February as weather-related events negatively impacted many businesses in the US, particularly in our primary areas of operations during the month. Without these weather-related issues, we believe our revenue would have been much higher than what was achieved. This marks the fifteenth straight month we have recorded a year-over-year increase in revenue at branches that were open at least one year."
Labor SMART reported a significant increase in revenue last month as well and recently reported that its 2013 revenue was 130.7 percent higher than that recorded in 2012. "We are part of a growth industry as more and more companies choose to outsource many jobs rather than deal with new regulatory employment issues," Mr. Schadel said. He added that the company intends to continue to grow organically, to open new stores and explore acquisitions that would be accretive to the company's revenue and earnings.
About Labor SMART, Inc.
Labor SMART, Inc. provides On-Demand temporary labor to a variety of industries. 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.
Martin E. Janis & Company, Inc.
SOURCE: Labor SMART, Inc.