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As of 8:10 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

labor smart inc (LTNC) Key Developments

Labor Smart, Inc. Reports Earnings Results for the Second Quarter Ended June 27, 2014

Labor Smart, Inc. reported earnings results for the second quarter ended June 27, 2014. The company reported revenue of $6,437,976 which represents a 59% increase over the $4,037,040 in revenue reported for the quarter ending June 30, 2013. Operating loss narrowed to $136,000 compared to an operating loss of $566,739 reported for the same period one year ago. The company recorded a comprehensive loss for the quarter of $939,728 due to non-cash charges. The company reported net loss of $932,846, EBITDA of $59,725 and adjusted EBITDA of $401,455.

Labor Smart, Inc., Q2 2014 Earnings Call, Aug 14, 2014

Labor Smart, Inc., Q2 2014 Earnings Call, Aug 14, 2014

Labor Smart, Inc. Reports Revenue Results for the Month Ended July 25, 2014; Revised Earnings Guidance for the Fourth Quarter and Full Year of 2014

Labor Smart, Inc. reported revenue results for the month ended July 25, 2014. Company-wide revenue for the month ended July 25, 2014 was $2,068,532 a 30.4% increase compared to July 2013 revenue of $1,586,351. Among the 14 branches open one year or more at July, 2014 revenue was $1,595,534, essentially flat in a year over year comparison. Revenue in branches that were open one year or more were impacted by the company's decision to discontinue low-margin, higher risk business, which represented an average of $320,000 in monthly revenue. The company is revising its yearly revenue projection to reflect the change. The company expects that revenue for 2014 will come in around $25 million to $27 million with a significant improvement on gross margins and cash flow. The new projection is to reach gross margins of 23.5% for all of 2014. The company expects to achieve gross margins of 25% in the fourth quarter of 2014 compared to its original goal of 22% in the fourth quarter.

Labor SMART, Inc. Reports Revenue Results for the Month Ended June 27, 2014

Labor SMART, Inc. reported revenue results for the month ended June 27, 2014. The company announced that revenue was $2,209,702, a 51.85% increase compared to June 2013 revenue of $1,455,145. Among the 14 branches open one year or more at June 27, 2014 revenue was $1,794,407, a 23.31% increase over last year's revenue for the same four week period.

Labor Smart, Inc. to Open One or Two More Branch Offices in 2014

Labor Smart, Inc. announced that it expects going forward for the remainder of 2014 it will open one or two more branch offices, while putting the company primary focus on continuing to grow revenue, margins and operating income.

 

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