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View All NewsBG Staffing revenue rises 18% in Q4
Revenue at BG Staffing Inc. (NYSE MKT: BGSF) rose 17.8% in the fourth quarter and gross margin improved. The Plano, Texas-based staffing provider recorded the impact of the Tax Cuts and Jobs Act resulting in a re-measurement of its net deferred tax assets, which had a noncash negative impact on fourth quarter and annual net income by $3.3 million.
| (US$ thousands) | Q4 2017 | Q4 2016 | % change |
| Revenue | $75,701 | $64,279 | 17.8% |
| Gross profit | $19,255 | $15,110 | 27.4% |
| Gross margin | 25.4% | 23.5% | |
| Net loss/income | ($875) | $2,304 | nm |
BG Staffing provides staffing in three segments: professional, commercial and multifamily (front-office and maintenance personnel to the multi-family housing industry).
Quote
“I’m extremely proud of our 2017 financial results — they are a reflection of BG Staffing’s unique value proposition, the solid performance from our recent acquisitions, and our disciplined approach to cost control,” said President and CEO L. Allen Baker, Jr. “We met or exceeded our goals in every significant category. I want to thank our team and customers for helping us achieve another record year. I believe that 2018 will also be another impressive year.”
Full-year results
| (US$ thousands) | 2017 | 2016 | % change |
| Revenue | $272,600 | $253,852 | 7.4% |
| Gross profit | $68,402 | $60,073 | 13.9% |
| Gross margin | 25.1% | 23.7% | |
| Net income | $5,848 | $6,882 | -15.0% |
Share price and market cap
Shares in BG Staffing rose 2.52% to $17.09 as of 1:17 p.m. Eastern time today. The company had a market cap of $149.70 million.