Fortran Corp Announces Results for Quarter Ending September 30th 2015

HICKORY, N.C., November 11^th  2015  Fortran Corporation (OTC: FRTN) a leading communications systems integrator and service provider announced financial results for the quarter ending September 30^th 2015 compared to the same quarter 2014.  Financial highlights for the quarters respectively were:

§  Revenues totaled $690,193 decreased from $1,520,244

§  Gross profit margin decreased 65% for the YoY.

§  Operating income decreased to ($4,797) from $248,199 respectively

“As we continue to transition our (telecom) acquisitions from one-time sales to recurring revenues, we will continue to see the top line fall.  Management expects this to continue for several more quarters in the existing telecom services businesses, however, our recurring revenues model, which we maintain offers a lower cost per customer, continues to improve and is now 57% of our total income for the quarter”.  Stated Douglas Rink, President and CEO.

Our backlog from 11/11/2015 was $148,232.01 as compared to $242,852.06 on November 11^th 2014, (expected to be completed) within the next 3-months.  This is a decrease of 61%.  We currently manage 8,269 clients as opposed to 8,122 clients in November of 2014.

“Our gross revenues and backlog decreases are examples of continued focus to drive our operation on service income rather than one-time sales.  This makes our revenues more predictable, steady and gives an accurate picture of our clients businesses as it relates to telecom services which historically has been extremely unpredictable with high gross revenues and potentially no profit or even a loss.  While this isn’t our business model, our best opportunities to long term growth is to convert unprofitable business plans like this to recurring revenues model or “cash-flow” model and this takes time” He goes on to say.

About FORTRAN Corporation:

Fortran Corp., is a leading communications systems integrator through its subsidiaries, The New Telephone Company, Inc., B & L Telephone LLC, CCI-Telecom, Inc., Fortran Communication, Inc., WynnCom, Inc., Fortran Corp. is dedicated to designing, sourcing, implementing and maintaining today's complex communications solutions for business and governments.  Fortran services more than 8,231 clients in 2 states with 3 offices in the southeast.  To learn more, please visit the Fortran Corp. website at www.fortrancorp.com

Disclaimer

The press release is for information purposes only and is not intended to constitute, and should not be construed as, an offer to sell or a solicitation of any offer to buy shares of Fortran Corporation in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of such jurisdiction, and the distribution of this communication in jurisdictions may be similarly restricted.  The matters discussed herein may also be affected by risk and uncertainties described from time to time in Fortran Corporation's filings with the OTC Markets News Service.  The company assumes no obligation to update any forward-looking statement.