http://finance.yahoo.com/news/staffing-360-solutions-announces-successful-130000916.html The terms of the amended debt include a $3.00 conversion price, issuance of 600,000 shares, an increase of the total maturity value to $3.1 million, no payment of principal until maturity, and no interest payable until October 1, 2017, after which payments shall be made on a quarterly basis.
NEW YORK, NY--(Marketwired - January 03, 2017) - Staffing 360 Solutions, Inc. (STAF), a public company executing a global buy-and-build strategy through the acquisition of staffing organizations in the US and the UK, today pre-announced its unaudited financial results for the fiscal second quarter ended November 30, 2016.
Subject to the completion of its quarterly review and filing of Staffing 360 Solutions' Form 10-Q, the fiscal second quarter results are expected to be as follows:
Revenue of $47 million, a 14% increase compared to $41 million in the prior year, Gross profit of $8.1 million, an 8% increase compared to $7.5 million in the prior year period. In addition, the six month results ended November 30, 2016, over the prior year period are expected to be as follows:
Revenue of $95 million, a 23% increase compared to $77 million in the prior period, Gross profit of $16.6 million, a 20% increase compared to $13.8 million in the prior period. "We are thrilled to report yet another quarter with double digit revenue growth year over year," stated Brendan Flood, Executive Chairman of Staffing 360 Solutions. "Per our last earnings call, we are now on a trajectory of roughly $190 million in annualized revenue, and our organic growth continues to improve our quarterly metrics. As Staffing 360 continues to grow, we remain highly focused on not only increasing our top line, but improving our gross profit and streamlining operational efficiencies as well."
Matt Briand, President and CEO, added, "Across our subsidiaries in the US and the UK, we have been deploying numerous sales initiatives as the end of the calendar year traditionally marks the busiest time of year for our seasonal workers. With an extremely active 2016 now behind us, I can't say enough about the hard work and dedication of our employees that have made our double digit growth a reality. We look forward to sharing more details shortly when we announce our full financials in the coming weeks."
The Company expects to announce its comprehensive financial results for the fiscal quarter ended November 30, 2016 via press release and Form 10-Q before the SEC filing deadline in mid-January, along with an earnings conference call.
Staffing 360 Solutions believes that a consolidation strategy is ideally suited for the highly fragmented temporary staffing industry. The management team has been engaged in the development of a comprehensive program to create a robust pipeline of prospective acquisitions, with a longer term objective of driving annual revenues to $300 million.
For more information about Staffing 360 Solutions and complete investor materials such as investor presentations, white papers and webcasts of past earnings calls, please visit: www.staffing360solutions.com/res.html
Staf should be back in play, with reporting.. ma50 is tight... fundamentally undervalued.. and a low floater... needs volume and awareness
STAF Security Details Share Structure Market Value1 $7,403,234 a/o Jan 04, 2017 Authorized Shares 20,000,000 a/o Dec 30, 2016 Outstanding Shares 9,139,795 a/o Dec 30, 2016
STAF Staffing 360 Solutions, Inc. Common Stock Nasdaq 0.820.01 (1.23%)
