Frontera
Investment,
Inc., (OTC-FRNV)
announced today
that the Company
posted a pretax
profit
for May 2010 of
$12,139 compared
to a pretax
loss of
$49,114 for May
2009.
Earnings before
interest, taxes,
depreciation,
and amortization
(EBITDA) from
store operations
for May 2010
increased 53
percent to
$135,132 from
$88,104 for the
month of May
2009. Total
EBITDA (after
corporate
overhead) for
May 2010
increased
$75,311 to a
positive $65,307
from a loss of
$10,004 for the
month of May
2009. The
following table
presents month
and year-to-date
comparison from
last year:
|
Period |
May 2010 |
May 2009 |
YTD 2010 |
YTD 2009 |
|
Number
of
Stores |
10 |
9 |
10 |
9 |
|
Revenues |
$463,646 |
$327,140 |
$2,196,909 |
$1,417,233 |
|
Store
EBITDA |
135,132 |
88,104 |
652,699 |
375,200 |
|
Total
EBITDA |
65,307 |
-10,004 |
300,041 |
-82,590 |
|
Pretax
Profit
(loss) |
12,139 |
-49,114 |
72,182 |
-265,103 |
Frontera
Investment
Inc.’s primary
target market is
the Hispanic
market which is
currently
estimated at
more than 40
million
customers. Over
half of these
consumers do not
use any form of
banking service.
In addition,
approximately 35
percent of all
the households
in the United
States (both
Hispanic and non
Hispanic) either
do not use a
banking service
or they use
alternative
financial
services,
positioning
Frontera
Investment, Inc.
as a prime
option for these
consumers.
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
