HIRAM, Ga., March 8, 2013 /PRNewswire/ -- Labor SMART, Inc. (OTCQB: LTNC) today reported a 115% increase in revenues for the month of February.
The Month of February saw record revenues of $778,748 up from $361,704 a year earlier, representing an increase of 115% for the month. Although a much shorter month, February also saw a 34% increase in revenue over the month of January 2013. To date, Labor SMART has experienced a 116% increase in revenues for their first two months of operations in 2013.
Recently, Jim Cramer of CNBC's hit show Mad Money listed the Staffing Industry as one of his top ten picks for 2013. Between the recovery of the U.S. economy and companies preparing for initiation of Obamacare in 2014, temporary staffing companies have been picking up the employment slack and flourishing in this economy. This trend is expected to continue through 2013 and beyond. Hence, Cramer's bullish recommendation for staffing companies.
Ryan Schadel, Labor SMART's CEO, stated, "This is a very exciting time for our operations as we continue to surpass expectations with the production of record revenues during what is normally considered to be our industry's slowest months out of the year." He also stated, "As we continue to move ahead with our strategic business model, which includes the opening of several more branches in several states, we are extremely optimistic with our goals as we now start to enter much stronger producing months."
The company also said it expected to announce the appointment of an additional board member in the coming days.
To see CNBC's Mad Money Jim Cramer's bullish recommendation on the staffing industry go to:
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.
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.