Frontera Announces February 2009 Revenues
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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.
SOURCE Frontera Investment, Inc.
Allan C. Youngberg, CFO of Frontera Investment, Inc., +1-858-549-7061,
IR@fronterainvestment.com
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