The Harsh Winter Expected to have a Positive Impact on Business Moving Forward for Firemans Contractors
Fort Worth, Texas / ACCESSWIRE / March 7, 2014 / Firemans Contractors Inc. (OTCQB: FRCN) late yesterday filed Form 10-Q with the SEC. This is fiscal second quarter for Firemans Contractors as our year ends on June 30th.
In the filing it is notable that revenues for our fiscal second quarter, ending December 31, 2013, were down about 43%. The reason for this, of course, was this unusually harsh winter. While that seems to be a disappointment, we wanted to point out how this harsh winter in the Dallas / Forth Worth area will actually be good for the Company for the months ahead. The net loss for the period has decreased about 47% from $274,165 for the period ending December 31, 2012 to $140,556 for the period ending December 31, 2013.
When comparing the six months results for the period ending December 31, 2013, the numbers are much closer. For that period, revenues are down 1.3%. This shows that the weather impacted months of November and December for the DFW area had a profound impact upon business. The net loss for this period is down over 60% for the six month period ending December 31, 2013 when compared to the same period a year earlier.
Management is already seeing a significant positive impact booking business for these warmer months ahead due to the impact the very harsh winter on parking lots and roadways in the DFW area. With the significant sheet icing and constant fluctuations in temperature, this weather causes very significant cracking and potholes to these surfaces. We are already seeing business picking up in our area as temperatures are just now beginning to moderate.
Renee Gilmore, Chairwoman and Chief Executive Officer stated, “We have positioned ourselves for such a time as this. There is a buzz in the paving maintenance industry as there is an increased demand for our services. In CY 2013 we were focused on building the foundation and cutting costs. CY 2014 is a year of growth and prosperity for the company as we increase sales and expand through our franchise business model.”
About Firemans Contractors:
Firemans Contractors, Inc. (FRCN) is a Franchisor and full-service General Contractor providing professional services for commercial and government clients, focused on developing Business to Business Franchise Opportunities throughout the United States. Its services include Road Improvements, Pavement Maintenance, Seal Coating, Parking Lot Striping, Pavement Marking, Asphalt Maintenance and Repair, and ADA Compliance. Firemans Contractors brings a professional value system delivering outstanding results through honorable customer relationships and repeat business. Local firefighters are supported by a portion of profits which are donated to local Firefighter Associations. Firemans Contractors is a proud member of the Franchise Association (IFA) and The Veteran Transition Franchise Initiative (VetFran). As a member, Firemans Contractors is expanding through franchise development, aimed to assist the Company in expanding its market share. As a franchisor, the Company will provide franchisees with training and support, including the proprietary Firebase(tm) software platform, which is included along with other business tools and training for new franchisees of Firemans Contractors.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. Additional information respecting the factors that could materially affect the Company and its operations are contained in its annual report on Form 10K and Form 10-Q as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statement.
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Source: Firemans Contractors, Inc.