Staffing 360 Solutions Inc. (NASD: STAF), a staffing provider operating in the US and UK, confirmed fourth-quarter revenue rose 29.1% to USD 59.5 million, gross margin improved to 20.0% and fourth-quarter net loss was $7.5 million. The company had reported preliminary results earlier this month. In addition, Staffing 360 announced it will restate third-quarter earnings after errors were found.

In a filing with the US Securities and Exchange Commission, the company reported its Audit Committee ruled that results reported for the three months and nine months ended 30 September 2017, should not be relied upon and it plans to restate earnings for this period. The company had improperly accounted for shares issued to employees and directors; conversions of its Series D Preferred Shares; warrants issued prior to 30 September; and closing fees associated with a USD 40.0 million note issued in September, according to the filing. Restating the earnings will increase the net loss by USD 2.2 million for the three months ended 30 September 2017. Reported net loss had been USD 5.3 million

Staffing 360 also announced that it added Alicia Barker to its board as an independent director, effective 1 April. She replaces former President and CEO Matt Briand, who left the company 31 January.

Barker is principal of Act II Consulting, a business she launched in 2016 that provides human resources consulting and professional coaching services. She previously was senior VP, human resources at advertising agency Barker; VP, human resources at Hudson North America; and VP, human resources, at Grey Group, a global advertising and marketing agency. Barker over the past several years has held board positions on not-for-profit boards in her local community.