Command Center Announces First Quarter Revenue up to $19.9 Million with Positive Gross Margin Growth
Command Center Announces First Quarter Revenue up 4.2% to $19.9 Million with Positive Gross Margin Growth
Command Center, Inc. has announced revenue of $19.9 million for the first quarter ending March 29, 2013, a 4.2% increase on revenue of $19.1 million recorded in the comparable period of 2012. Gross margin, as a percentage of revenue, is expected to improve to 25.0% from 24.3% reported in the comparable period in 2012.
There were 58 company-owned stores in March, as compared with 51 stores one year ago.
Bubba Sandford, Chief Executive Officer, stated, “First quarter revenues were impacted by several items, including the harsh weather conditions that our North Dakota store locations had to contend with at the start of the year. In addition, we made a strategic decision to focus our sales and retention efforts on accounts that will help us to grow our average company gross margins. As a result, we have put some pressure on our top line growth rate as we continue to emphasize improving gross margins.
“We have also taken other steps to improve profitability. We completed several new initiatives during the first quarter, including the rollout of new sales tools. In addition, we made a number of organizational changes that will allow us to leverage our best managers while reducing our cost structure. The full impact of these changes was only partially realized during the first quarter but is expected to have a positive impact throughout the remainder of the year. We will continue to work on growing revenues strategically while maintaining our efforts to strengthen gross margins as we progress into the year.”
Sandford added that, “The company has historically issued press releases at the end of each month reporting revenue results. However, we will be issuing future financial press releases on a quarterly and annual basis consistent with our SEC filing dates. This new policy is in line with our goal to focus on profitability and our commitment to deliver long-term growth to our shareholders.”