Fortran Corporation Announces Results for 3-Months and 9-Months Ending March 31, 2014

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

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