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View All NewsStaffing provider GEE Group revenue jumps with acquisitions
GEE Group Inc. (NYSE MKT: JOB) reported net revenue rose 91.5% to $83.1 million in its fiscal year 2016 ended Sept. 30, with growth fueled by acquisition activity. The Naperville, Ill.-based staffing provider’s recent acquisitions include Scribe Solutions, Agile Resources, Access Data Consulting and Paladin Consulting Inc.
| (US$ thousands) | FY 2016 | FY 2015 | % growth |
| Net revenue | $83,074 | $43,387 | 91.5% |
| Gross margin | 28.4% | 30.3% | |
| Net income (loss) | $1,173 | -$4,662 | nm |
Quote
“Fiscal 2016 was a highly successful year for the company as we were able to significantly increase revenue, improve profitability and strengthen our financial position compared to the prior fiscal year,” said Chairman and CEO Derek Dewan. “We made strategic acquisitions, which, in addition to our core professional and commercial services groups, contributed nicely to GEE Group’s revenue and earnings growth.”
Revenue by segment
| (US$ thousands) | FY 2016 | FY 2015 | % growth |
| Industrial contract services | $21,916 | $26,499 | -17.3% |
| Professional contract services | $54,249 | $10,223 | nm |
| Direct hire placement services | $6,909 | $6,665 | 3.7% |
GEE Group in July changed its name from General Employment Enterprises Inc. to facilitate its focus on the IT and professional sectors.
Share price and market cap
GEE Group shares rose 0.95% today in early afternoon trading to $4.25 and the company has a market cap of $39.86 million, according to Yahoo.