Business
Frontera Announces 2009 Results and First Ever Profit in December 2009
Frontera Announces 2009 Results and First Ever Profit in December 2009.
About this update from Frontera Investment Inc
[{"type":"text","content":"January 20, 2010 – Frontera Investment, Inc., (OTC-FRNV) has announced that the Company posted its first monthly pretax profit in December 2009 of $15,000 and record store EBITDA of $138,000 for the month. Fourth quarter 2009 pretax loss was $21,000 compared a pretax loss of $126,000 during fourth quarter 2008. For the year 2009, the Company posted a pretax loss of $325,500 compared to $396,000 for 2008. Earnings before interest, taxes, depreciation, and amortization (EBITDA) from store operations for the fourth quarter 2009 increased 132% to $355,000 up from $153,100 for the fourth quarter 2008 and increased 136% to just over $1 million for 2009 compared to $434,000 for 2008. Total EBITDA (after corporate overhead) increased to a positive $91,000 during the fourth quarter 2009 compared to a loss of $97,000 for the fourth quarter 2008. Frontera Investment Inc.’s primary target market, the Hispanic market, is currently estimated at 40 million customers. Over half of those consumers do not use any form of banking service. In addition, of all the households in the United States, approximately 35 percent either do not use a banking service or they use alternative financial services, positioning Frontera Investment, Inc. as a prime option for consumers in those markets. Frontera currently operates 10 stores in California. The company is currently in the process of raising capital to acquire and open additional stores in Southern California during calendar year 2010. Forward-Looking Statements:Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to complete expansion within currently estimated time frames and budgets; the ability to compete effectively in a rapidly evolving and price competitive marketplace; ability to raise capital to support its growth strategy; changes in business strategy; and the successful integration of newly acquired businesses. Please forward any inquiries to:Allan C. Youngberg, [email protected] or call 858-549-7061","length":4990,"tagName":"div"}]