Frontera Announces February 2009 Revenues
24 Mars 2009 - 2:45PM
PR Newswire (US)
SAN DIEGO, March 24 /PRNewswire-FirstCall/ -- Frontera Investment,
Inc. (Pink Sheets: FRNV) announced today that its February 2009
revenues increased 37% to $685,600 compared to $502,000 in February
2008. The Company operated five full service stores and two
embedded stores this February and operated three full service
stores and two embedded stores the previous February. Earnings
before interest, taxes, depreciation and amortization ("Ebitda")
for the five full service stores increased 377% to $86,000, or
$17,200 per store this February compared to $18,000, or $6,000 per
store for the three full service stores in February 2008. Store
Ebitda increased 252% to $79,800 for all stores compared to $22,700
in February 2008. On March 1, 2009, Frontera successfully relocated
its Lake Elsinore Kiosk to a full service branch in a nearby strip
center. On April 1st, Frontera will open a new full service branch
in Encinitas, CA. Frontera has four additional stores in the
pipeline which will be staged to open over the next six months as
funding is obtained to finance the acquisition and working capital
needs of each new store. The Hispanic market is currently estimated
at 40 million consumers, over half do not use any form of banking
service. About 35 percent of the total US households are un-banked
or use alternative financial services companies. Frontera currently
operates seven 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 support it growth
strategy; changes in business strategy; and the successful
integration of newly acquired businesses. DATASOURCE: Frontera
Investment, Inc. CONTACT: Allan C. Youngberg, CFO of Frontera
Investment, Inc., +1-858-549-7061, Web Site:
http://www.fronterainvestment.com/
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