Labor SMART, Inc. Announces Surge in Business and Record Revenues Company Surpasses $2 Million Dollar Milestone In Quarterly Revenue
ATLANTA, Oct. 4, 2012 /PRNewswire/ -- Labor SMART, Inc. (OTCQB: LTNC) is pleased to announce that Year to Date revenues have exceeded $5 million as of September 28, 2012.
The Company attributes this surge in revenues due to the overwhelming and consistent demands for temporary labor by small businesses and large corporations found in their geographical locations.
According to the Bureau of Labor Statistics August 03, 2012 report, "The temporary help service industry accounted for more than half of the employment gain and has recovered more than 98% of the jobs lost during the most recent downturn." Additionally, in July 2012 Bloomberg Finance wrote an article, "Temporary Work Demand Rises as Companies Avoid Commitments: Jobs" which found that large companies are avoiding new hires with the weak economic outlook, and are turning to temporary labor for flexible staffing arrangements. With the U.S. experiencing a high unemployment rate mixed with a weak economic outlook, Labor SMART, which has developed a niche in the On-Demand labor market, has been experiencing exponential revenue growth in their first full year of operations for 2012.
Ryan Schadel, Labor SMART's CEO, stated, "Labor SMART has generated in excess of $2.1 million in revenue for the 3rd quarter, a new milestone for us, which puts year-to-date revenues above $5 million in 2012. Additionally, we saw consecutive weeks of new sales records in September with our highest weekly sales-to-date exceeding $230,000." He also stated, "At this current pace, we believe we have the potential to reach and possibly exceed our goal of $7 million in revenues for our first full year of operations in 2012." Mr. Schadel added, "We are now working feverishly in order to prepare for phase 2 of our growth model, which includes expansion plans from 6 locations in 4 states to 18 locations in 7 states. Labor SMART is currently bringing on additional staff throughout the 4th quarter in preparation of our objectives in 2013."
About Labor SMART, Inc.
Labor SMART, Inc. provides On-Demand temporary labor to a variety of industries. Our clients range from small businesses to fortune 100 companies. Labor SMART was founded to provide a reliable, dependable, and flexible resource for on-demand personnel to small and large businesses. Every day we provide manpower for jobs in construction, manufacturing, hospitality, events, restoration, warehousing, retail, disaster relief and more. As one of the fastest growing temporary labor providers, our goal is to become a nationwide resource and partner for our clients. We take pride in the belief that we can make a positive impact each and every day for the benefit of both our client and our temporary employees. Our mission is to be the provider of choice to our growing community of customers, with a service focused approach, that positions us as a resource and partner for their business.
For more information about Labor SMART go to their website:
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 Securities and Exchange Commission.
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SOURCE Labor SMART, Inc.