Business
Frontera Announces January 2010 Results and Continued Profit Growth
Frontera Announces January 2010 Results and Continued Profit Growth.
About this update from Frontera Investment Inc
[{"type":"text","content":"February 4, 2010 – Frontera Investment, Inc., (OTC-FRNV) has announced that the Company posted a monthly pretax profit of $19,000 and store EBITDA of $127,000 for the month of January 2010. This compares to a pretax loss of $43,600 and store EBITDA of $66,600 for January 2009. Earnings before interest, taxes, depreciation, and amortization (EBITDA) from store operations for January 2010 increased 91% to $127,500 up from $66,600 for the month of January 2009. Total EBITDA (after corporate overhead) for January 2010 increased to a positive $57,700 compared to a loss of $8,600 for the same month the previous year. 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":4790,"tagName":"div"}]