Staffing 360 Solutions expects record Q2 2016 revenue of $41m
Staffing 360 Solutions has announced it expects the company's reported revenue for the fiscal second quarter ended 30th November 2015 to reach a record $41m, an increase of 24% compared to $33 million of revenue reported in the same period last year.
This revenue represents the largest single quarterly revenue figure in the company's history.
The Company expects to announce its Q2 results before the SEC filing deadline in mid-January.
"We are pleased to announce projected revenue of $41 million for our second quarter," stated Brendan Flood, executive chairman of Staffing 360 Solutions. "These results are ahead of management's forecasts as we continue to drive growth and realize acquisition-based synergies. It is also important to note that second quarter revenue only includes one month of operations for our most recent acquisition of The JM Group, which closed in November. Overall, we believe that these results are a major validator for our consolidation strategy and the strides that we've made over the last 24 months."
Matt Briand, president and CEO of Staffing 360 Solutions, further remarked, "With an extremely active 2015 now behind us, I can't say enough about the hard work and dedication of our employees that have made this growth a reality. We look forward to sharing more details shortly when we announce our full financial results next week."
Staffing 360 Solutions believes that a consolidation strategy is ideally suited for the highly fragmented temporary staffing industry. The management team has been engaged in the development of a comprehensive program to create a robust pipeline of prospective acquisitions, with a longer term objective of driving annual revenues to $300m.