This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Labor SMART, Inc. Surpasses $5 Million In YTD Revenues And Sees 26% Revenue Increase For 3rd Quarter

Stocks in this article: LTNC

ATLANTA, Nov. 20, 2012 /PRNewswire/ -- Labor SMART, Inc. (OTCQB: LTNC), an emerging provider of on-demand temporary labor, released their 3 rd Quarter and Year to Date results.

In their third quarter, the Company reported revenues of $2,152,243 resulting in a 26% increase in sales over their second quarter revenues of $1,710,324 and an 82% increase over their first quarter of $1,183,716 for 2012. The Company showed a gross profit of $376,162 with a loss of $134,589 for the 3 rd quarter, which was attributed to non-cash charges associated with the issuance of various warrants and stock options and increased costs associated with the factoring of their accounts receivables due to the exponential sales growth they have been experiencing this year. However, excluding the non-cash charges, the Company has been showing steady progress in bolstering its income from operations.

The Company also reported total YTD revenues of $5,046,283 with $852,470 in gross profits and a slight loss of $108,073 in net income for the first nine months ending September 30, 2012.

Labor SMART is also pleased to announce that they have received clearance by the Depository Trust Company for its DTC eligibility. Labor Smart's stock can now transfer electronically.

Ryan Schadel, Labor SMART's CEO, stated, "Our 3 rd quarter has proven to be our strongest revenue producing quarter year-to-date. Minus the paper write-offs, our operations continue to show strong growth in a relatively unstable market and economy. We are now in the process of implementing our operational growth strategy for 2013 and look forward to continuing our exceptional growth while focusing on bottom line profits." He also stated, "We are also very pleased with the recent approval by the Depository Trust Company for Labor Smart's participation with the electronic transfer process of its shares. We are confident that this acceptance will now broaden the scope of our investor base and add increased liquidity to our stock."

About Labor SMART, Inc.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs