HIRAM, GA - April 2, 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 continued record revenue achievements for March 2014. Revenue overall for March 2014 was $1.438 million, a 25.7 percent increase over the $1.144 million achieved in March 2013. It should be noted that March 2013 was a five week month verses the four-weeks that made up March 2014. For those offices that have been open for a year, revenue for 2014 was $1,005,282.16, an eight percent increase over revenue achieved during the last four weeks of March 2013.
Ryan Schadel, Labor SMART's CEO, stated, "Although we were impacted this month with significant weather related issues in areas of the country where we focus our efforts, we are very pleased with these results. Without the weather issues I believe we would have achieved revenues of approximately $1.6-1.7 million for the month."
Schadel noted that while weather impacted revenues, it had more of an effect on the company's pace of new branch openings. "I expect that we will make up the time lost in this area," said Schadel. He said the company is not adjusting its revenue projections for the year and remains committed to achieving revenue of $30 million for 2014.
Labor SMART's growth strategy of organic growth, new offices and acquisitions continues to be reflected in record revenues for the past 18 months. "The recent strengthening of our sales and business development team as well as our planned new branch openings and potential acquisitions in the coming months lead us to remain very bullish about the coming year," said Schadel.
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.
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SOURCE: Labor SMART, Inc.