QualityStocks would like to highlight Labor Smart Inc. (OTCBB: LTNC), providing temporary blue-collar staffing services in the southeast United States. The company provides light industry labor to small and large businesses, in construction, manufacturing, hospitality, warehousing, retail, and other industries.
In the company’s news last week,
Labor SMART reported Year to Date revenues of more than $5 million as of September 28, 2012. Notably, the $2 million dollar milestone in quarterly revenue was surpassed.
The temporary labor market has contributed more than half of gains in employment and has recovered more than 98% of the jobs lost during the most recent downturn. Large companies continue to avoid new hires in response to the weak economic outlook, turning to temporary labor for flexible staffing solutions. The high unemployment rate mixed with a weak economic outlook has helped fuel Labor SMART’s rapid revenue growth in their first full year of operations for 2012.
“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,” Ryan Schadel, Labor SMART’s CEO, stated. “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.”
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