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NEWS
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News |
FRONTERA ANNOUNCES FEBRUARY 2009 REVENUES
San Diego, CA March 24, 2009 -
Frontera Investment, Inc. (OTC: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.
Please forward any inquiries to:
Allan Youngberg, CFO
Frontera Investment, Inc.
ayoungberg@fronterainvestment.com
858.549.7061 |
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