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NEWS
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Frontera Announces April 2010 Earnings
San Diego, CA -
May 14, 2010 - Frontera Investment, Inc., (OTC-FRNV) has
announced that the Company posted a pretax profit for the month of
April 2010 of $4,343 compared to a pretax loss of $64,284 for April
2009.
Earnings before interest, taxes, depreciation, and amortization
(EBITDA) from store operations for April 2010 increased 85% to
$130,635 from $70,732 for the month of April 2009. Total EBITDA
(after corporate overhead) for April 2010 increased $89,399 to a
positive $64,284 from a loss of $25,115 for the month of April 2009.
On May 1, 2010, the Company opened a new store in Dinuba,
California.
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 provides financial services to the fast growing un-banked
and under banked U.S. Hispanic market through a revolutionary
one-stop shop concept. Frontera’s model is unique and highly
successful as a result of the combination of a full service, high
volume, low cost concept of providing a branded check cashing, money
transfer and lending products through a customized proprietary and
highly differentiated technology platform. Frontera currently
operates 10 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 its growth strategy; changes in
business strategy; and the successful integration of newly acquired
businesses.
Please forward any inquiries to:
Allan C. Youngberg, CFO
IR@fronterainvestment.com
or call 858-549-7061
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