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Revenues up 12% YoY for BG Staffing in Q3

BG Staffing, Inc. has reported financial results for its third quarterly period and nine months ended 25th September 2016.


Revenues for the third quarter 2016 were $67.4m, an increase of 12.0% when compared with revenues from the third quarter 2015 of $60.2m. The Company reported net income of $2.3m, or $0.26 per diluted share for the third quarter 2016, compared with net income of $2.2m, or $0.29 per diluted share for the third quarter 2015.  Gross profit percent was 24.4% for the third quarter 2016 compared with 23.0% for the third quarter 2015.


Adjusted EBITDA was $6.3m, or 9.3% of revenues, in the third quarter of 2016, compared with $6.2m, or 10.3% of revenues for the same period in the prior year.  

Adjusted EPS for the third quarter 2016 was $0.40, a decrease of 7.0%, when compared with the third quarter 2015 of $0.43.


Revenues for the first nine months 2016 were $189.6m, an increase of 25.7% when compared with revenues from the first nine months 2015 of $150.8m. The Company reported net income of $4.6m, or $0.56 per diluted share, for the first nine months 2016 compared with net income of $3.8m, or $0.53 per diluted share, for the first nine months 2015.  Gross profit percent was 23.7% for the first nine months 2016 compared with 21.9% for the first nine months 2015.


Adjusted EBITDA was $16.5m, or 8.7% of revenues, in the first nine months of 2016, compared with $12.4m, or 8.2% of revenues, for the same period in the prior year.  


Adjusted EPS for the first nine months 2016 was $1.07, an increase of 21.6% when compared with the first nine months 2015 of $0.88.


L. Allen Baker, Jr., president and CEO, stated, "Our business philosophy of the past seven years remains constant. We continue to foster organic growth while seeking accretive, disciplined acquisitions."


Picture courtesy of Pixabay

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