May 06, 2014 07:50 ET

Labor SMART Achieves 71 Percent Growth Year Over Year in April

Company Expects to Achieve $500,000 Weekly Revenue

HIRAM, GA--(Marketwired - May 6, 2014) - Labor SMART, Inc. (OTCQB: LTNC) (the "Company"), an emerging provider of on-demand blue collar staffing primarily in the southeastern United States, today announced continued record revenue achievements for April 2014. Total revenue overall for April 2014 was $1,719,841, a 71.33 percent increase over the $1,003,791 achieved in April 2013. 

The company also announced that it has completed integration of the recently acquired assets of Shirley's Employment Agency of Tulsa, OK. The transaction, as reported in an 8k filing with the SEC on April 9, 2014, represents an acquisition cost of approximately two times the expected EBITDA of the business.

Ryan Schadel, Labor SMART's CEO stated, "We continue to meet our goals both in terms of revenue and addition of new offices and remain confident that 2014 should be a breakout year for the company."

Labor SMART's growth strategy of organic growth, new offices and acquisitions is reflected in record revenues for the past 19 months. "We expect to see significant increases in revenue growth as the year progresses, both as a result of coming into our historically strong quarters as well as new office growth. Additionally, we set a goal to exceed weekly revenue of $500,000 and I expect this milestone to be achieved in short order," said Schadel.

About Labor SMART, Inc.

Labor SMART, Inc. provides On-Demand temporary labor to a variety of industries. The Company's clients range from small businesses to Fortune 100 companies. Labor SMART was founded to provide reliable, dependable and flexible resources for on-demand personnel to small and large businesses in areas that include construction, manufacturing, hospitality, event-staffing, restoration, warehousing, retailing, disaster relief and cleanup, demolition and landscaping. Labor SMART believes it can make a positive contribution each and every day for the benefit of its clients and temporary employees. The Company's mission is to be the provider of choice to its growing portfolio of customers with a service-focused approach that enables Labor SMART to be seen as a resource and partner to its clients.

Safe Harbor Statement

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 U.S. Securities and Exchange Commission.

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