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Net income up 60% YoY in H1 2017 for BG Staffing

Texas-based BG Staffing, Inc. has reported record financial results for its second quarter and six-month periods ended 25th June 2017.

In the second quarter, revenues were $68,774,000, up 9.8% on the same quarter last year ($62, 615,000). Gross profit increased 13.4% from $15,185,000 in Q2 2016 to $17,227,000 in Q2 2017.

Net income was $2,285,000, up 63.6% on last year’s Q2 result of $$1,397,000. Adjusted EBITDA was $6,634,000, up 14% from $5,781,000 in Q2 2016.

For the first half of 2017, revenues increased 2.8% from $122,166,000 in H1 2016 to $125,618,000 in H1 2017. Gross profit was $30,899,000, up 8.3% from H1 2016.

Net income for the period was $3,586,000, up 60.7% from $2,231,000 in H1 2016. Adjusted EBITDA increased 4.7% from $10,297,000 in H1 2016, to $10,776,000 in H1 2017.

L. Allen Baker, Jr., president and CEO, stated, "Our business model continues to work well. All of our metrics were up for the quarter and six month periods, which resulted in record results. As expected, the recent acquisition of Zycron enhanced our results for quarter and year-to-date."

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