SOURCE: Labor SMART, Inc.

October 23, 2013 07:55 ET

Labor SMART, Inc. Surpasses Year-to-Date Revenues of $13 Million

Company Sees Little Impact From Government Gridlock

HIRAM, GA--(Marketwired - Oct 23, 2013) - Labor SMART, Inc. (OTCQB: LTNC) (the "Company") is pleased to announce Year-To-Date (YTD) revenues of $13,118,257 as of October 18, 2013, as the Company continues to see strong sales in the month of October.

Additionally, the Company experienced very little revenue impact from the recent U.S. government shutdown. The company attributes this to its increased client base and maturing of new branches opened this year. This has been key in the Company's continued success in creating record revenue growth with increasing margins and illustrates the company's ability to weather disruptions in the marketplace.

Ryan Schadel, Labor SMART's CEO, stated, "While we noticed some revenue decreases related to projects backed by government funding, these decreases were largely offset by increases in other areas of our business. He continued, "For example, our newly opened office in Raleigh, NC exceeded $30,000 in revenue last week. For a new office, this is an amazingly fast ramp up and illustrates the opportunity for Labor Smart as we march toward expansion in 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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