Business
Frontera Announces Q1 2010 Results and Continued Profit Growth
Frontera Announces Q1 2010 Results and Continued Profit Growth.
About this update from Frontera Investment Inc
[{"type":"text","content":"April 19, 2010 – Frontera Investment, Inc., (OTC-FRNV) has announced that the Company posted a pretax profit for the three months ended March 31, 2010 of $55,700 compared to a pretax loss of $151,100 for the three months ended March 31, 2009. Earnings before interest, taxes, depreciation, and amortization (EBITDA) from store operations for the three months ended March 31, 2010 increased 79% to $386,900 from $216,400 for the three months ended March 31, 2009. Total EBITDA (after corporate overhead) for the three months ended March 31, 2010 increased $229,900 to a positive $182,400 from a loss of $47,500 for the three months ended March 31, 2009. On March 31, 2010, the Company closed one store and plans to open a new store in Dinuba, California on May 1, 2010. 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 9 stores in California with a 10 store scheduled to open in Dinuba, California on May 1, 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 growt...