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BG Staffing revenue up 16%

August 03, 2015

BG Staffing Inc. (NYSE MKT: BGSF) reported revenue rose 16.2% year over year in the second quarter to $49.8 million. Gross margin also improved.

The Plano, Texas-based company provides staffing in light industrial, IT and multifamily (front office and maintenance personnel to the multi-family housing industry). Quarterly gross profit increased in each of its three business segments: Commercial rose 11.5%; multifamily rose 29.6%; and professional staffing rose 40.6%.

(US$ thousands) Q2 2015  Q1 2014  % growth
Revenue $49,781 $42,830 16.2%
Gross profit $10,866 $8,465 28.4%
Gross margin 21.8% 19.8%  
Net income $1,462 $247 491.9%

Quote

“Our momentum is building as we continue to make important progress in executing our business plan during the second quarter of 2015,” said President and CEO L. Allen Baker, Jr. “The completion of the integration of our latest accretive acquisition, in the attractive staffing niche of finance and accounting, has fit perfectly into our growth and expansion plans. It will allow us to further diversify the revenue and cash flow portfolio we are building for our shareholders — and leverage our internal operational infrastructure. We are firing on all cylinders and look forward to finishing 2015 as our strongest year on record.”

Share price and market cap

Shares of BG Staffing fell 1.25% to $11.85 in early afternoon trading today, and the company has a market cap of $78.30 million, according to Yahoo!