Industrial staffing provider Command Center Inc. (OTCBB: CCNI) reported third-quarter revenue edged up 1.0%, as a reduction in revenue from some larger accounts offset good accounts sold at the branch level.

Gross margin improved one percentage point to 26.9%, which the Lakewood, Colo.-based company attributed to coaching and training of field personnel.

The company has 66 stores in 22 states.

Quote

“In addition to continued revenue and gross margin increases, our EBITDA and cash are strong,” said President and CEO Bubba Sandford. “In fact, we doubled our cash since the end of 2016 and continue to carry minimal debt. We expect this improved liquidity to allow us to evaluate accretive uses of our capital, which includes share buybacks, acquisition opportunities, additional store openings or placing increased resources in certain verticals. Also, through the previously announced Strategic Alternatives Committee, the company’s board of directors continues its process of evaluating opportunities to create additional value for our shareholders, which includes a number of possibilities.”

Share price and market cap

Shares in Command Center fell 5.88% to 48 cents as of 11:39 a.m. Eastern time. The company had a market cap of $29.09 million.