Staffing 360 Solutions, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter Ended November 30, 2016
January 11, 2017 at 06:25 am EST
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Staffing 360 Solutions, Inc. announced unaudited consolidated earnings results for the second quarter ended November 30, 2016. For the quarter, the company reported revenue was $47,137,000 against $41,350,000 a year ago. Loss from operations was $69,000 against $1,664,000 a year ago. Loss before provision for income tax was $1,398,000 against $3,220,000 a year ago. Net loss attributable to common stock was $1,476,000 against $3,434,000 a year ago. The net loss attributable to common stock is primarily due to non-cash accounting charges, as well as professional, legal, capital raising and other non-recurring expenses. EBITDA was $474,000 against LBITDA of $1,160,000 a year ago. Adjusted EBITDA was $1,393,000 against $1,265,000 a year ago. This growth is attributable to earnings from acquisitions, as well as flow through of revenue arising from organic growth.
For the six months, the company reported revenue was $94,887,000 against $77,234,000 a year ago. Loss from operations was $23,000 against $2,238,000 a year ago. Loss before provision for income tax was $2,623,000 against $4,877,000 a year ago. Net loss attributable to common stock was $2,820,000 against $5,191,000 a year ago. EBITDA was $1,194,000 against LBITDA of $1,032,000 a year ago. Adjusted EBITDA was $3,151,000 against $1,883,000 a year ago.
Staffing 360 Solutions, Inc. is a domestic staffing company engaged in the acquisition of United States-based staffing companies. The Companyâs segments include Professional Staffing - US and Commercial Staffing - US. The Company is pursuing acquisition targets that place candidates in finance and accounting, administration, engineering, information technology, and commercial staffing jobs. The Company, through its subsidiaries, offers temporary contractors and permanent placement services. It offers a comprehensive range of recruitment services, ranging from contract/temporary staffing, contingency permanent recruitment, retained search and selection, employer of record, to managed services and recruitment process outsourcing (RPO). In addition, the Company offers a range of complementary and value-added services for both candidates and clients, including assessment, testing, training, and coaching for hiring managers, with professional guidance on legal/employment matters.