HICKORY, N.C., May 20, 2014 /PRNewswire/ -- Fortran
Corporation (OTC Pink: FRTN) a leading communications systems
integrator announced financial results for the three and nine month
periods ending March 31, 2014
compared to the same periods 2013. Financial highlights for
the quarters respectively were:
|
Three Months
Ended
|
Nine Months
Ended
|
% Increase
|
|
2014
|
2013
|
2014
|
2013
|
3-mo
|
9-mo
|
|
(In
Thousands)
|
(In
Thousands)
|
|
|
|
|
|
|
|
|
|
Revenue:
|
$ 673
|
$ 580
|
$ 2,320
|
$ 1,649
|
16%
|
41%
|
|
Gross
Profit
|
$ 283
|
$ 222
|
$ 1,219
|
$
638
|
27%
|
91%
|
|
Operating Income
(Loss)
|
$ (39)
|
$ (73)
|
$
94
|
$ (100)
|
(47)%
|
(194)%*
|
|
|
|
|
|
|
|
|
*Loss recognition due
in part to Wynncom acquisition.
|
|
|
|
|
"This has been a very exciting nine months of the year as we are
realizing our mission to continue building stakeholder value and
development of our core earnings through organic sales, small to
mid-sized company acquisitions and funding opportunities. Our
current growth initiatives, while challenging at times, are
very rewarding for the staff and myself as we see this company
continue to grow by doubling in one year," stated Doug Rink, President and CEO of Fortran
Corporation.
About Fortran Corporation;
Fortran Corporation is a leading communications system
integrator through its subsidiaries, The New Telephone Company,
Inc., B & L Telephone LLC, CCI-Telecom, Inc., Fortran
Communication, Inc., Wynncom, Inc. and Fortran Corporation is
dedicated to designing, sourcing, implementing and maintaining
today's complex communications solutions for business and
governments. Fortran services more than 5,500 clients in 2
states with 4 offices in the southeast. To learn more, please
visit the Fortran Corporation website at www.fortrancorp.com or
call 800-735-8600.
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 Corporation