Staffing 360 Solutions Inc. (OTCBB: STAF) announced today revenue for the quarter ended Aug. 31 will be $33.4 million, an increase from the previously announced guidance of $32.0 million. Due to five acquisitions completed over the past year, this represents a year-over-year increase in revenue from $1.3 million in the quarter ended Aug. 31, 2013.

The company still anticipates a net loss for the quarter, but expects it to be a significant improvement from the previous quarter, according to Executive Chairman Brendan Flood. Staffing 360 reported a net loss of $12.7 million in the quarter ended May 31.

Staffing 360 Solutions launched in 2012 and is pursuing broad spectrum staffing companies in the IT, financial, accounting, healthcare and cybersecurity industries. The company reported revenue of $25.6 million in its fiscal fourth quarter ended May 31, and its stated mission is to become a $300 million revenue business. Yesterday, the company announced it had applied to uplist its stock on the Nasdaq National Market.

Shares in Staffing 360 were up 6.92 percent in early afternoon trading today to $1.39 and Staffing 360 has a market cap of approximately $46.79 million, according to Yahoo!