SOURCE: Labor SMART, Inc.

November 05, 2013 07:55 ET

Labor SMART, Inc. Reports Revenues of $1,642,319 for the Month of October 2013

Company Sees 108% Revenue Increase for Same Month Prior Year

HIRAM, GA--(Marketwired - Nov 5, 2013) - Labor SMART, Inc. (OTCQB: LTNC) (the "Company") an emerging provider of on-demand temporary labor is pleased to announce record revenues of $1,642,319 for the month of October 2013. This compares to revenues of $788,912 in October 2012, representing an approximate 108% increase in revenues over the same month prior year.

Labor SMART continues to attribute its dynamic revenue growth to the addition of new branch locations, substantial increases in new clientele and the maturing of its established branches over the last several months.

Ryan Schadel, Labor SMART's CEO, stated, "We are very pleased to report another record month for our company. Although the fourth quarter is historically challenging for our industry, we still expect to produce record numbers until year-end, and expect to easily break our initial projection of $16 million for the year." He continued, "We are also very pleased with the consistent increase in margins we have experienced over the last several months, and expect continued expansion of gross margins as we begin to initiate our strategic growth plans for 2014."

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.

Safe Harbor

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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