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View All NewsGEE Group posts revenue of $45 million in fiscal Q1
GEE Group Inc. (NYSE MKT: JOB) reported revenue rose to $45.2 million in its fiscal first quarter ended Dec. 31.
| (US$ millions) | Q1 2018 | Q1 2017 | % change |
| Net revenue | $45,232 | $21,006 | 115.3% |
| Gross profit | $15,774.0 | $5,443.0 | 189.8% |
| Gross margin | 34.9% | 25.9% | |
| Net loss/income | ($1,791) | $51 | nm |
GEE Group acquired SNI Companies in early 2017 for $66.3 million, according to a filing with the US Securities and Exchange Commission. GEE had net sales of $48. 6 million in the first quarter of the last fiscal year on a pro forma basis — as if the acquisition had occurred on Oct. 1, 2016. However, the company cautioned the pro forma information does not purport to indicate what the results would have been if the companies actually had been combined at the time.
Pro forma net loss would have been $364,000 for the year-ago quarter.
Revenue by segment
| (US$ thousands) | Q1 2018 | Q1 2017 | % change |
| Contract staffing services | $39,461 | $19,856 | 98.7% |
| Direct hire placement services | $5,771 | $1,150 | nm |
Quote
“We will continue to selectively add sales and delivery talent in addition to beefing up our recruiting capabilities to help us continue to gain market share and to help us increase organic revenue growth and profitability for the remainder of this fiscal year,” said Chairman and CEO Derek E. Dewan.
Share price and market cap
Shares in GEE Group rose 1.49% to $2.72 as of 1:09 p.m. Eastern time and the company had a market cap of $26.87 million.