Staffing 360 Solutions (NASDAQ: STAF) this morning reported its unaudited financial results for the fiscal Q1 ended August 31, 2016, including record revenue and adjusted EBITDA levels. For fiscal Q1 2017, the company expects revenue of $47 million, a 30% increase over $36 million in Q1 2016; gross profit of $8.4 million, a 33% increase over $6.3 million in Q1 2016; net loss of $1.3 million, a 23% improvement compared to $1.7 million in Q1 2016; and adjusted EBITDA of $1.7 million, a 180% increase over $0.6 million in Q1 2016. Staffing 360 expects to announce its financial results for the fiscal Q1 ended August 31, 2016 before the SEC filing deadline in mid-October.
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About Staffing 360 Solutions, Inc.
Staffing 360 Solutions, Inc. (NASDAQ: STAF) is a public company in the staffing sector engaged in the execution of a global buy-and-build strategy through the acquisition of domestic and international staffing organizations in the US and UK. The Company believes the staffing industry offers opportunities for accretive acquisitions that will drive its annual revenues to $300 million. As part of its targeted consolidation model, the Company is pursuing acquisition targets in the finance and accounting, administrative, engineering and IT staffing space. For more information, please visit: www.staffing360solutions.com
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