Business
Frontera Announces May 2010 Earnings
Frontera Announces May 2010 Earnings.
About this update from Frontera Investment Inc
[{"type":"text","content":"June 10, 2010 – Frontera Investment, Inc., (OTC-FRNV) announced today that the Company posted a pretax profit for May 2010 of $12,139 compared to a pretax loss of $49,114 for May 2009. Earnings before interest, taxes, depreciation, and amortization (EBITDA) from store operations for May 2010 increased 53 percent to $135,132 from $88,104 for the month of May 2009. Total EBITDA (after corporate overhead) for May 2010 increased $75,311 to a positive $65,307 from a loss of $10,004 for the month of May 2009. The following table presents month and year-to-date comparison from last year: PeriodMay 2010May 2009YTD 2010YTD 2009Number of Stores109109Revenues$463,646$327,140$2,196,909$1,417,233Store EBITDA135,13288,104652,699375,200Total EBITDA65,307-10,004300,041-82,590Pretax Profit (loss)12,139-49,11472,182-265,103 Frontera Investment Inc.’s primary target market is the Hispanic market which is currently estimated at more than 40 million customers. Over half of these consumers do not use any form of banking service. In addition, approximately 35 percent of all the households in the United States (both Hispanic and non Hispanic) either do not use a banking service or they use alternative financial services, positioning Frontera Investment, Inc. as a prime option for these consumers. 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 ...