Business
Frontera Announces February 2010 Results and Continued Profit Growth
Frontera Announces February 2010 Results and Continued Profit Growth.
About this update from Frontera Investment Inc
[{"type":"text","content":"March 9, 2010 – Frontera Investment, Inc., (OTC-FRNV) has announced that the Company posted a monthly pretax profit of $20,300 and store EBITDA of $125,800 for the month of February 2010. This compares to a pretax loss of $56,000 and store EBITDA of $74,400 for February 2009. Earnings before interest, taxes, depreciation, and amortization (EBITDA) from store operations for the two months ended February 28, 2010 increased 79% to $252,700 up from $140,900 for the two months ended February 28, 2009. Total EBITDA (after corporate overhead) for the two months ended February 28, 2010 increased $148,000 to a positive $117,100 up from a loss of $30,900 for the two months ended February 28, 2009. 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 provides financial services to the fast growing un-banked and under banked U.S. Hispanic market through a revolutionary one-stop shop concept. Frontera’s model is unique and highly successful as a result of the combination of a full service, high volume, low cost concept of providing a branded check cashing, money transfer and lending products through a customized proprietary and highly differentiated technology platform. Frontera currently operates 10 stores in California. 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...