Fortran Corp Announces Results for Quarter Ending September 30th 2014
HICKORY, N.C., Nov. 13, 2014 /PRNewswire/ -- Fortran Corporation (OTC: FRTN) a leading communications systems integrator announced financial results for the quarter ending September 30th 2014 compared to the same quarter 2013. Financial highlights for the quarters respectively were:
- Revenues totaled $1,520,244, increased 62% from $877,082
- Gross profit margin increased 42% for the Qtr.
- Operating income increased 58% to $248,199 from $103,585 respectively
"We recognized the benefit of investment decisions made in the previous two fiscal quarters. Further, our Q1 results are the efflorescence of acquisitions made in the latter half of FYE 2013 along with corporate-wide operating efficiency gains made over the past six months and a high-margin revenue mix," stated Doug Rink, President and CEO. "The tempestuous nature of our stock price could lead to a recommendation to the board of directors to adopt a company's common stock repurchase program or debt raise," he goes on to say.
About Fortran Corporation:
Fortran Corp., is a leading communications systems integrator through its subsidiaries, The New Telephone Company, Inc., B & L Telephone LLC, CCI-Telecom, Inc., Fortran Communication, Inc., WynnCom, Inc., Fortran Corp. is dedicated to designing, sourcing, implementing and maintaining today's complex communications solutions for business and governments. Fortran services more than 8,122 clients in 2 states with 3 offices in the southeast. To learn more, please visit the Fortran Corp. website at www.fortrancorp.com
Disclaimer
The press release is for information purposes only and is not intended to constitute, and should not be construed as, an offer to sell or a solicitation of any offer to buy shares of Fortran Corporation in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of such jurisdiction, and the distribution of this communication in jurisdictions may be similarly restricted. The matters discussed herein may also be affected by risk and uncertainties described from time to time in Fortran Corporation's filings with the OTC Markets News Service. The company assumes no obligation to update any forward-looking statement.
SOURCE Fortran Corp.
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