Firemans Contractors Closing Our FYE 2014 With Strong Increases over FYE 2013
Fort Worth, Texas / ACCESSWIRE / June 20, 2014 / Firemans Contractors Inc. (OTCQB: FRCN) is updating investors on increases to our bottom line for the current quarter and our fiscal year end for 2014, which ends June 30, 2014. While we have had one of the worst winters in many years for the Dallas/Fort Worth Metroplex, our year-to-year and quarter-to-quarter numbers show substantial increases as we gain even greater traction in our market.
We show about a 64% increase to our bottom line so far as we close out fiscal year 2014 over the same period through this date last year. That is in an increase of $459,853 to the bottom line fiscal year-to-year through June 19, 2014 compared to the same date a year earlier.
The numbers for this quarter show an increase of $118,496 to our fiscal fourth bottom line. Additionally, we have another $117,000 booked that is yet to be invoiced. Some of this will be included in our fourth quarter numbers and some of this will help jump-start our fiscal year 2015 that starts on July 1, 2014. This current quarter is effectively cash flow positive.
There are several reasons for this success, and they all have to do with the execution of our Strategic Plan as announced on December 18, 2013. We have added to the Company through the addition of two new franchisees, through the addition of experienced team members with significant business contacts for the clients we need, through expanded markets we previously did not serve, and through expanded business from our existing client base. Many of our clients include companies everyone knows such as big box retailers, grocery store chains, restaurant chains and others with multiple locations throughout our service area. Many of these same business contacts will be able to book us for business in new markets as our expansion continues.
Fireman Contractors Chairwoman and CEO, Renee Gilmore, commented, “Everything we are doing is focused on the future of the Company by expanding our market through new franchisees and brand awareness with national accounts, as well as providing ongoing quality service to our customers and support to existing franchisees to ensure their success.”
About Firemans Contractors:
Firemans Contractors, Inc. (FRCN) is a Franchisor and full-service General Contractor providing professional services for commercial and government clients, focused on developing Business to Business Franchise Opportunities throughout the United States. Its services include Road Improvements, Pavement Maintenance, Seal Coating, Parking Lot Striping, Pavement Marking, Asphalt Maintenance and Repair, and ADA Compliance. Firemans Contractors brings a professional value system delivering outstanding results through honorable customer relationships and repeat business. Local firefighters are supported by a portion of profits which are donated to local Firefighter Associations. Firemans Contractors is a proud member of the Franchise Association (IFA) and The Veteran Transition Franchise Initiative (VetFran). As a member, Firemans Contractors is expanding through franchise development, aimed to assist the Company in expanding its market share. As a franchisor, the Company will provide franchisees with training and support, including the proprietary Firebase(tm) software platform, which is included along with other business tools and training for new franchisees of Firemans Contractors.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. Additional information respecting the factors that could materially affect the Company and its operations are contained in its annual report on Form 10K and Form 10-Q as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statement.
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SOURCE: Firemans Contractors Inc.