NanoCap Gems
HearAtLast Holdings, HRAL, Issues Year End Report! HRAL well on its way to 4 and 5 Year Goals, revenues up 77% year over year!
"As our business model indicates, this is a 5-year plan and HearAtLast is well underway in achieving its sales projections of 350k in year 4 and 400k in year 5 per clinic," states Louis Isabella, CFO.
MISSISSAUGA, ON--(Marketwire - 08/12/09) - (Pinksheets:
Total revenues for the year ended March 31, 2009 increased 77% to $2.42 million, compared to $1.36 million for the previous year. Gross margin was 57.58% for the latest year, down from 58.71% from the same period in 2008.
In spite of the substantial increase in revenues for the latest fiscal year, this was below the Company's potential revenue and profitability targets, mainly due to the fact that only 17% of the Hearing Stores opened, are just approaching 2.5 years of operation. HearAtLast is still in their growth stage and the majority of these locations are not yet considered to be operating as mature or seasoned stores. There are currently 5 Hearing Stores that we consider to be termed as 'seasoned locations,' representing only 17% of the total stores operating. However, these Clinics contributed approximately 33% of the total revenue for the year ended March 31, 2009. The remaining HearAtLast locations are maturing at the projected pace and are expected to contribute to the overall revenues at a similar rate.
"We anticipate that as we continue to grow, as our locations reach critical mass and as we expand our list of active patients, HearAtLast will continue to see strong revenue growth due to client retention and the economies of scale which will dually impact the Company's gross margins," stated Matthew Sacco, CEO of HearAtLast Holdings, Inc.
"As our business model indicates, this is a 5-year plan and HearAtLast is well underway in achieving its sales projections of 350k in year 4 and 400k in year 5 per clinic," states Louis Isabella, CFO.
About HearAtLast
HearAtLast Holdings, Inc. is a Nevada corporation that owns and operates its wholly-owned subsidiary of hearing stores co-located within select Wal-Mart stores throughout Canada. Their chain of hearing stores specializes in the sale of digital hearing aids and testing services. The Company is the affordable hearing solution for Canadians, combining the most sought after retail space in North America with convenience and location. HearAtLast provides State of the Art Hearing Testing and Dispensing services to individuals with all types of measurable hearing loss.
HearAtLast facilities sell a selection of high-quality brand name hearing aids and also offer complimentary screening tests, clinical hearing tests, high end ear buds and assistive listening devices. The Company's mission is to consolidate the highly fragmented hearing services industry while providing unparalleled service to the estimated 30+ million hearing impaired individuals throughout North America. After a prescription is approved, the independent on-site audiologists and hearing aid practitioners at HearAtLast utilize a refined process to dispense the latest in Name Brand digital hearing aids.
About NanoCap Gems:
NanoCap Gems, based in the Sacramento region of California, is an on-line financial magazine and marketer, and its new Visibility Division offers a marketing platform for companies of less than 50 million in market cap. The Visibility Division offers company-paid visibility and marketing through its "Company Spotlight" and "Featured Gems" strategic marketing campaigns, for companies seeking media and retail exposure. For free updates, and to learn how your company can benefit, please visit us at www.nanocapgems.com. NanoCap Gems is currently profiling several companies, including HearAtLast Holdings.
Safe Harbor
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Rule 17B requires compensation disclosure, and NanoCap Gems has received 900,000 free trading shares for consideration of its marketing services. For complete disclosure, and disclaimer, please go to www.nanocapgems.com.
The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management, as well as assumptions made by any information currently available to the Company or its management. When used in this document, the words "anticipate,"
Photo:
http://www.prlog.org/
