HearAtLast (HRAL) Announces Revenue Gains and Overall Business Model Improvement Since Strategic Alliance With VitaSound Audi...
February 29 2012 - 8:00AM
Marketwired
HearAtLast Holdings Inc. (PINKSHEETS: HRAL) is pleased to report
that since its last announcement of its strategic alliance with
VitaSound, operations of all HearAtLast Hearing Stores have
experienced a dramatic change for the better in its overall
operation of the business model.
It has been 16 months now that VitaSound has assumed operations
of the HearAtLast Hearing Stores, giving HearAtLast Holdings the
ability to focus on the further development opportunities in
opening new Corporate HearAtLast locations as well as focusing on
the development of HearAtLast as a licensing opportunity for
independent Hearing Clinic operators. All aspects of the business
have taken a major upward turn and the trend continues today as
management has created a positive cash flow for the HearAtLast
Hearing Stores. VitaSound has brought operational discipline to the
management of the HearAtLast locations in 2011 and the result has
been a solid improvement in all metrics. More importantly, it has
implemented a "cookie cutter"-style program that can be replicated
as new locations are brought into the network. The new management
system has shown an increase of 76% in net unit sales with an
increase of net sales of 61.5%. Not only have the clinics seen a
dramatic change in sales but the return rate has decreased by 21%
overall with a sales close rate increase.
Customer confidence and satisfaction showed significant
improvement as measured by hearing tests, referrals and walk-ins
showing an increase of 35%, 49% and 35% respectively. This
improvement trend has continued into the first two months of 2012,
and another strong year of performance improvement is expected. The
dedicated staff along with the new team at VitaSound have all
contributed to this positive result. This vast improvement has
re-enforced our decision to venture into our growth model with
VitaSound as a "win-win" partnership scenario. "The direction in
which we are heading certainly changed in a positive manner and we
expect to carry this forward to our new stores and licensee
opportunities," commented Matthew Sacco, President of HearAtLast
Holdings. "The numbers that we are able to achieve will only get
better and having a positive working model not only benefits
HearAtLast in their Corporate growth but will benefit our potential
Licensees as they will be able to look to our expert management
partners for assistance in making sure that they also achieve the
success they would expect as a HearAtLast Hearing Store Licensee,"
further commented Mr. Sacco.
In an effort to create new revenue streams, HearAtLast is also
expanding sales in ancillary products that are available at our
locations. New technology in telephones and devices for the hearing
impaired will also continue to be a part of the company's revenue
stream.
About HearAtLast HearAtLast Holdings, Inc.
is a Nevada corporation that has developed HearAtLast; a chain of
hearing stores specializing in the sale of digital hearing aids and
testing services within select Wal-Mart stores in Canada.
HearAtLast facilities sell a selection of high quality brand
name hearing aids and also offer complimentary screening tests,
clinical hearing tests, high end ear buds and assistive listening
devices. The Company's mission is to expand and develop
opportunities within the highly fragmented hearing services to the
estimated 30+ million hearing impaired individuals throughout North
America by co-developing and/or licensing its HearAtLast brand
throughout North America, within Wal-Mart stores as well as in
independent locations. It is also the Company's endeavor to provide
the finest Hearing Health Centres available today by offering
exceptional, guaranteed products, quality service by trained
professionals and all the while maintaining affordable prices.
HearAtLast is accomplishing this by combining the most sought-after
retail space in North America with convenience and location.
For more information please visit www.hearatlastholdings.com
Safe Harbor Statements about the Company's future expectations
and all other statements in this press release other than
historical facts, are "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, Section 21E
of the Securities Exchange Act of 1934, and as that term is defined
in the Private Securities Litigation Reform Act of 1995. The
Company intends that such forward-looking statements be subject to
the safe harbors created thereby.
The above information contains information relating to the
Company that is based on the beliefs of the Company and/or its
management, as well as assumptions made by any information
currently available to the Company or its management. When used in
this document, the words "anticipate," "estimate," "expect,"
"intend," "plans," "projects," and similar expressions, as they
relate to the Company or its management, are intended to identify
forward-looking statements. Such statements reflect the current
view of the Company regarding future events and are subject to
certain risks, uncertainties and assumptions, including the risks
and uncertainties noted. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
to be incorrect, actual results may vary materially from those
described herein as anticipated, believed, estimated, expected,
intended or projected. In each instance, forward-looking
information should be considered in light of the accompanying
meaningful cautionary statements herein. Factors that could cause
results to differ include, but are not limited to, successful
performance of internal plans, the impact of competitive services
and pricing and general economic risks and uncertainties.
Investor Relations: HearAtLast Holdings, Inc.
Ir@hearatlastholdings.com 888-993-0989
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