Business
Frontera Announces September and Third Quarter 2009 Revenues
Frontera Announces September and Third Quarter 2009 Revenues.
About this update from Frontera Investment Inc
[{"type":"text","content":"October 30, 2009 – Frontera Investment, Inc., (OTC-FRNV) has announced an increase of 7.7 percent, or $787,700, in revenue for its ten stores in operation for September 2009, up from $731,600 for its seven stores in operation for September 2008. Third quarter 2009 revenues ending September 30, 2009 increased 24% to $2,383,500 compared to $1,924,800 for the third quarter 2008. Earnings before interest, taxes, depreciation, and amortization (EBITDA) from store operations for the third quarter 2009 increased 60% to $217,200 up from $135,500 for the third quarter 2008. Allan Youngberg, CFO of Frontera Investment, Inc. said “EBITDA neared the breakeven point this quarter as a result of continued growth in store EBITDA combined with corporate overhead reductions. We are confident that store EBITDA will continue to grow and allow the Company to transition to positive EBITDA (after corporate overhead) for the first time in the fourth quarter 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 currently operates 10 stores in California. The company is currently in the process of raising capital to acquire and open two additional stores in Southern California during calendar year 2009. 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, CFOIR...