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EXCHANGE: New York Stock Exchange 

About BG Staffing, Inc.
Headquartered in Plano, Texas, BG Staffing provides staffing services to a variety of industries through its various divisions. BG Staffing is primarily a professional temporary staffing platform that has integrated several regional and national brands and is set to achieve scalable growth. The Company was ranked 56th among the top 100 U.S. staffing companies and was named the 71st fastest growing staffing company in the country in 2016 by Staffing Industry Analysts. The Company's acquisition philosophy is one that not only brings financial growth, but retention of unique and dedicated talent within the companies

 

http://www.bgstaffing.com


BG Staffing, Inc. Announces Q1 2017 Financial Results
Apr 27, 2017

PLANO, Texas, April 27, 2017 /PRNewswire/ -- BG Staffing, Inc. (NYSE MKT: BGSF), a rapidly growing national provider of professional temporary staffing services, today reported financial results for its first quarter ended March 26, 2017.


Quarter One 2017 Results


2017


2016


Change


% Change


(amounts in thousands, except per-share amounts)

Revenues

$

56,844



$

59,551



$

(2,707)



(4.5)

%

Gross profit

$

13,671



$

13,347



$

324



2.4

%

Gross profit percentage

24.1

%


22.4

%


1.7

%


7.6

%

Net income

$

1,302



$

833



$

469



56.3

%

Net income per diluted share

$

0.15



$

0.11



$

0.04



36.4

%

Weighted average diluted shares

8,924



7,647



1,277



16.7

%

Adjusted EBITDA (1)

$

4,143



$

4,514



$

(371)



(8.2)

%

Adjusted EBITDA percentage (2)

7.3

%


7.6

%


(0.3)

%


(3.9)

%


L. Allen Baker, Jr., President and CEO, stated, "While revenues declined in Q1 '17 versus Q1 '16, bottom line numbers for the quarter are up. Further we expect the recent acquisition of Zycron to enhance our results for the year. The lower Adjusted EBITDA in Q1 '17 was primarily due to a decline in our Commercial segment in addition to significant investment in new offices for our highest margin segment, Multifamily. The investment in Multifamily is expected to result in revenue growth later this year."

(1)
Non-GAAP financial measure.  See reconciliation at end for details.
(2)
Adjusted EBITDA as a percentage of revenue.
Conference Call
The Company will host an investor conference call to discuss financial results on April 27, 2017 at 1:30pm PDT (4:30 EDT). The Participant Dial-In Number for the conference call is 1-631-891-4304. Participants should dial in to the call at least five minutes before 1:30pm PDT (4:30pm EDT) on April 27, 2017. The call can also be accessed "live" online at http://public.viavid.com/index.php?id=123614.  A replay of the recorded call will be available for 90 days on the Company's website (http://bgstaffing.investorroom.com/). You can also listen to a replay of the call by dialing 1-844-512-2921 (international participants dial 1-412-317-6671) starting April 27, 2017, at 7:30pm EDT through May 4, 2017 at 11:59 pm EDT. Please use PIN Number 10002699.


Forward-Looking Statements
The forward-looking statements in this press release are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The Company's actual results could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties including those listed in Item 1A of the Company's Annual Report on Form 10-K and in the Company's other filings and reports with the Securities and Exchange Commission. All of the risks and uncertainties are beyond the ability of the Company to control, and in many cases, the Company cannot predict the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this press release, the words "believes," "plans," "expects," "will," "intends," and "anticipates" and similar expressions as they relate to the Company or its management are intended to identify forward-looking statements. Except as required by law, the Company is not obligated to publicly release any revisions to these forward-looking statements to reflect the events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

Contact:
Terri MacInnis, VP of Investor Relations
Bibicoff + MacInnis, Inc.
818.379.8500  terri@bibimac.com

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