Firemans Contractors Reports Third Quarter 2013 Results
June 03 2013 - 5:48PM
Marketwired
Firemans Contractors, Inc. (OTCQB: FRCN) a Commercial Contractor
providing professional services for commercial and government
clients, focused on currently developing a Commercial Business to
Business Franchise Opportunity in the area of Pavement Maintenance,
reports the Q3 2013. The Company has an increase of gross revenues
in the 3rd Qtr to $320,474 up from Q3 2012 220%, bringing total
gross revenue for FYQ3 2013 to $862,394 from $542,522 FYQ3 2012.
Management Commentary
"During the third quarter, we continued to focus on driving
growth, reducing cost, and improving overall productivity," said
Firemans Contractors CEO Renee Gilmore. "Our total gross revenue
increased 220% compared to Q3 2012, while we also significantly
reduced operating expenses from the prior quarter reflecting a more
efficient operational structure and a much more disciplined
approach towards managing all facets of the business. Operating
expense reductions involved decreasing personnel costs along with
enhancing productivity through more efficient business processes
and greater project level control over working capital deployed and
labor utilized. We believe the progress and momentum of our first
two franchisees established in the first & second quarter has
set the stage for strong improvements."
Q3 2013 Highlights
- Increase in revenues to $862,394 up 220% compared to Q3
2012
- Reduction in operational loss to $34,604 from $204,428 compared
to Q3 2012
- Increase of Corporate Assets from $58,964, to $209,236 as of Q3
2013
- Franchise Fees & Royalty Revenue increased to $84,234
through Q3 2013
About Firemans
Contractors:
Firemans Contractors, Inc. (OTCQB: FRCN) is a full-service
contractor providing professional services for commercial and
government clients, focused on developing a 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). For more information
about Firemans Contractors, visit: www.FiremansContractors.com
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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Renee Gilmore CEO/Chairwoman Firemans Contractors, Inc. 1
(800) 475-1479 Email Contact
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