Fortran Corp Announces Results for Quarter Ending December 31st 2014
HICKORY, N.C., February 9th, 2014 Fortran Corporation (OTC: FRTN) a leading communications systems integrator and service provider announced financial results for the quarter ending December 31st 2014 compared to the same quarter 2013. Financial highlights for the quarters respectively were:
§ Revenues totaled $1,055,939 increased from $769,892
§ Gross profit margin decreased 27% for the Qtr.
§ Operating income decreased to ($109,383) from $27,957 respectively
“I am very pleased with our top line growth initiatives we put in place 24-months ago. As a result of that plan, we increased our recurring revenues this quarter by 7%. Our overhead costs are down, mainly due to redundancy savings and (RIF). We believe this to be a very exciting time in the expansion of our business model. Although we experienced a seasonal loss this quarter, 54% of this was from a onetime investment Banking fee. As our cost of capital continues to improve, we fully intend this to dissipate.” stated Douglas Rink, President and CEO.
Our backlog from February 9th 2015 was $352,491 as compared to $242,852 on November 11th 2014, (expected to be completed) within the next 3-months. This is an increase of 31%. We currently manage 8,234 clients as opposed to 8,122 clients in November of 2014. As we continue to change the company from a onetime sales to a recurring revenue model. “This really is the story” he goes on to say.
About Fortran Corporation:
Fortran Corp., is a leading communications systems integrator through its subsidiaries, The New Telephone Company, Inc., B & L Telephone LLC, CCI-Telecom, Inc., Fortran Communication, Inc., WynnCom, Inc., Fortran Corp. is dedicated to designing, sourcing, implementing and maintaining today's complex communications solutions for business and governments. Fortran services more than 8,231 clients in 2 states with 3 offices in the southeast. To learn more, please visit the Fortran Corp. website at www.fortrancorp.com
Disclaimer
The press release is for information purposes only and is not intended to constitute, and should not be construed as, an offer to sell or a solicitation of any offer to buy shares of Fortran Corporation in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of such jurisdiction, and the distribution of this communication in jurisdictions may be similarly restricted. The matters discussed herein may also be affected by risk and uncertainties described from time to time in Fortran Corporation's filings with the OTC Markets News Service. The company assumes no obligation to update any forward-looking statement.
SOURCE Fortran Corp
dougrink@fortrancorp.com 800-735-8600