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BGSF, Inc. (NYSE: BGSF) is a nationwide leader in strategic workforce solutions, headquartered in Plano, Texas. BGSF provides a comprehensive range of workforce solutions to various industries through its family of professional staffing companies, bringing over 100 years of combined experience. The company operates primarily in two segments: Property Management and Professional.
In the Property Management segment, BGSF offers office and maintenance talent to clients, facilitating their staffing needs with both short-term and consulting solutions. Brands like BG Multifamily deliver front office and maintenance temporary talent for apartment communities, ensuring streamlined operations and tenant satisfaction.
The Professional segment is diversified, offering specialized staffing solutions in several key areas. InStaff provides end-to-end workforce and onsite management solutions for warehousing, manufacturing, administration, and call centers. Donovan & Watkins focuses on accounting & finance, HR, engineering, legal, and administrative talent. Smart Resources Accountable Search targets accounting & finance and administrative roles. American Partners and Extrinsic specialize in EPM, CPM, and ERP solutions, with a focus on Oracle, Hyperion, PeopleSoft, Workday, and SAP.
Moreover, Vision Technology Services provides IT consulting and project management services, engaging with Fortune 500 companies and consulting firms nationwide. BGSF's workforce services include on-demand assignments, consulting, and managed solutions, allowing clients to flexibly manage their workforce needs.
With a strategic approach to converting fixed personnel costs to variable expenses, BGSF enables companies to effectively address fluctuations in demand while optimizing costs. This approach has made BGSF a valuable partner for businesses seeking to streamline their workforce strategies and enhance productivity.
Recent Achievements and Current Projects:
- Expansion of service offerings in the IT segment with new partnerships and technologies.
- Recent accolades for client satisfaction in property management staffing solutions.
- Increased focus on sustainable and inclusive hiring practices across all segments.
BGSF, Inc. (NYSE: BGSF) reported Q1 2021 results, showing revenues of $67.7 million, an 8.6% decline year-over-year. Gross profit decreased to $18.8 million (-7.2%), though gross margin improved to 27.8%. Net income fell to $0.7 million ($0.07 per diluted share), down from $1.5 million ($0.14 per diluted share). Adjusted EBITDA also decreased to $2.9 million, representing 4.3% of revenues. The Board declared a quarterly cash dividend of $0.10 per share, marking the 26th consecutive quarterly dividend with an annualized yield of approximately 2.9%. The company aims for recovery in its segments despite the pandemic's ongoing effects.
BGSF, a national workforce solutions provider, will reveal its first quarter 2021 financial results on May 6, 2021, at 4:30 p.m. ET during a conference call. President and CEO Beth Garvey, along with CFO Dan Hollenbach, will host the call. The financial results press release will be distributed before market open on the same day. Interested participants can join by dialing the provided numbers. The call will also be available for replay and live streaming through the company's website.
BGSF, a national workforce solutions provider, reported Q4 and FY 2020 results. For Q4, revenues were $69.7 million, down 3.6% year-over-year, while gross profit increased 0.6% to $19.3 million. Net income fell to $2.2 million, or $0.21 per diluted share. For FY 2020, revenues decreased 5.6% to $277.9 million, and net income dropped to $1.4 million, largely due to a $5.4 million impairment loss. Adjusted EBITDA shrank to $18.7 million or 6.7% of revenues. Despite challenges, the company aims to enhance operational efficiencies and capitalize on growing demand across segments.
BGSF, a national workforce solutions provider, has scheduled a conference call on March 11, 2021, at 4:30 p.m. ET to discuss its fourth quarter and fiscal year-end 2020 financial results. The call will be hosted by CEO Beth Garvey and CFO Dan Hollenbach. A press release detailing the results will be issued before the market opens on the same day. BGSF, headquartered in Plano, Texas, serves multiple industries, including IT, Finance, and Real Estate, and has been recognized as a leading staffing company in the U.S.
BGSF, a national workforce solutions provider, has acquired Momentum Solutionz for $3.78 million plus up to $2.22 million in performance-based earnouts. This marks BGSF's 12th acquisition since 2009, aimed at enhancing its IT solutions portfolio. Momentum Solutionz reported $3 million in revenues for 2020 and offers consulting and managed IT services, focusing on high-end markets. The acquisition is expected to create synergy, diversify services, and generate higher margins through multi-year customer contracts.
BGSF, Inc. (NYSE: BGSF) has declared a quarterly cash dividend of $0.10 per share, payable on February 26, 2021, to shareholders on record as of February 18, 2021. This payment marks the 25th consecutive quarterly dividend and results in an annualized yield of approximately 3.0% based on the stock's closing price on February 5. CEO Beth A. Garvey emphasized the company's commitment to enhancing shareholder value while pursuing growth initiatives.
BG Staffing, Inc. is rebranding itself as BGSF, Inc., effective February 8, 2021. This name change highlights its broad range of workforce solutions and expertise in various sectors, including IT, Cyber, Finance, and Light Industrial. President and CEO Beth A. Garvey stated that the new name aims to enhance marketability and access to clients. There will be no changes to the stock ticker, which will remain BGSF. The company is recognized as the 70th largest U.S. staffing firm and is focused on scalable growth through acquisitions.
BG Staffing, Inc. (NYSE: BGSF) announced that its President and CEO, Beth A. Garvey, along with CFO Dan Hollenbach, will participate in the Virtual Southwest IDEAS Investor Conference on November 18-19, 2020. They will host virtual one-on-one meetings on November 19. A webcast of their presentation will be available at 7:00 a.m. CST on November 18 via the conference portal and the company’s investor relations website. BGSF is recognized for its workforce solutions across various industries, including IT and finance, and was ranked the 70th largest U.S. staffing company in 2020.
BG Staffing, Inc. (BGSF) announced a quarterly cash dividend of $0.10 per share, marking its 24th consecutive dividend. The third quarter revenues fell to $71.5 million, down 9.9% from 2019, with a net income of $2.6 million ($0.25 per diluted share), a decline from $4.2 million ($0.41 per diluted share) last year. Adjusted EBITDA decreased to $5.5 million, representing 7.7% of revenues. The company emphasized its strategic focus on reinvesting in employees and technology, while navigating the impacts of the Covid-19 pandemic. Upcoming conference call scheduled for today at 4:30 p.m. EST.
BG Staffing announced it will discuss its Q3 2020 financial results on November 5, 2020, at 4:30 p.m. EST during a conference call.
President and CEO Beth Garvey and CFO Dan Hollenbach will host the call, with a related press release issued before market opening on the same day. Participants can dial in via specified numbers or access the live webcast and replay on the company's investor relations website.
BGSF, headquartered in Plano, Texas, provides workforce solutions across various sectors, and it was ranked as the 64th largest U.S. staffing company in 2019.
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