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
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,
Quarter One 2017 Results
(amounts in thousands, except per-share amounts)
Gross profit percentage
Net income per diluted share
Weighted average diluted shares
Adjusted EBITDA (1)
Adjusted EBITDA percentage (2)
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."
Non-GAAP financial measure. See reconciliation at end for details.
Adjusted EBITDA as a percentage of revenue.
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.
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.
Terri MacInnis, VP of Investor Relations
Bibicoff + MacInnis, Inc.