Staffing 360 Solutions Inc.’s (OTCBB: STAF) reported net revenue rose to $25.6 million in its fiscal fourth quarter ended May 31, up from $557,000 in the fourth quarter of the prior fiscal year. Gross profit for the quarter rose to $4.6 million from $159,000 in the year-ago quarter.

For the full 2014 fiscal year, net revenue rose to $45.8 million, up from $648,000 in fiscal 2013. Staffing 360 reported a net loss for $12.7 million this year compared with a net loss of $3.4 million in the 2013 fiscal year.

During the fiscal year, Staffing 360 Solutions completed four acquisitions: Control Solutions International Inc., Initio International Holdings Ltd. (renamed Staffing 360 Solutions Ltd.), Poolia UK, and PeopleSERVE. The firm also acquired The Revolution Group (renamed Cyber 360 Solutions) in the fourth quarter of fiscal 2013.

“As we continue to implement our acquisition strategy, Staffing 360 Solutions is fully committed to reaching our stated goal of $300 million in annualized revenues,” said CEO Matt Briand. “We believe our consolidation strategy is ideally suited for the highly fragmented temporary staffing industry, especially considering our highly experienced management team.”

Shares in Staffing 360 were down 12.90 percent in early afternoon trading today to $1.75. Staffing 360 has a market cap of approximately $53.62 million, according to Yahoo!