HICKORY, N.C., Sept. 17, 2014 /PRNewswire/ -- Fortran
Corporation (OTC Pink: FRTN) a leading communications systems
integrator announced financial results for the year-ending
June 30th 2013 compared to
the same periods 2012. Financial highlights for the
year-end(s) respectively were:
|
Year-End Annual
Report 2013
(in
Thousands)
|
Year-End Annual
Report 2012
(in
Thousands)
|
|
Revenue:
|
3,361,223
|
4,184,309
|
|
Gross
Profits:
|
(73,433)
|
390,238
|
|
Operating
Income:
|
(28,855)
|
310,509
|
"Our acquisitions of CCI-Telecom, Inc., and Wynncom, Inc. for
year-ending June
30th resulted in a smaller loss than
anticipated with the management team working rapidly to right size
the companies," stated Douglas Rink,
President and CEO.
He goes on to say, "Fortran's consolidated projections from
April 2014 through March 2015 indicates a return to
profitability."
About Fortran Corporation
Fortran Corporation is a leading communications system
integrator through its subsidiaries, The New Telephone Company,
Inc., CCI-Telecom, Inc., B & L Telephone LLC, Fortran
Communication, Inc. and Wynncom, Inc. Fortran Corp. is
dedicated to designing, sourcing, implementing and maintaining
today's complex communications solutions for business and
governments. Fortran services more than 7,700 clients in 2
states with 4 offices in the southeast. To learn more, please
visit the Fortran Corporation website at www.fortrancorp.com
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