Firemans Contractors Reports Third Quarter 2013 Results
FRCN Q3 Gross Revenues Increased to $320,474 an Increase of 220% Compared to 3Q 2012
FORT WORTH, TX - (Marketwired - Jun 3, 2013) - 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.
"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.
Firemans Contractors, Inc.