GEE Group Announces Results for the Fiscal 2023 Full Year and Fourth Quarter
- Revenues of $152.4 million for fiscal year 2023, down 8% from 2022.
- Gross profit of $52.9 million for fiscal year 2023, down 14% from 2022.
- Net income of $9.4 million for fiscal year 2023, down 52% from 2022.
- Cash balance of $22.5 million, borrowing availability of $11.3 million, and net working capital of $30.3 million.
- Decline in revenues and gross profit year-over-year.
- Net income decreased by 52% compared to the previous fiscal year.
Insights
The reported financial results from GEE Group Inc. show a notable decline in revenues and gross profit for both the fiscal year and the fourth quarter, which could be indicative of broader economic challenges impacting the staffing industry. The decrease in net income is particularly significant, dropping by more than 50% compared to the previous fiscal year. This reduction can be partially attributed to the absence of PPP loan forgiveness gains that bolstered the prior year's results.
The company's strategy of share repurchases might be seen as a move to increase shareholder value, but it also reflects management's belief in the undervaluation of the company's shares. The engagement of an investment banking firm to explore strategic alternatives suggests that the company is actively seeking ways to enhance its financial position and market standing.
Investors should be cautious and monitor the company's performance closely, especially given the economic headwinds such as rising interest rates and potential recessionary pressures. The ability to maintain or improve free cash flow in the upcoming fiscal year will be critical for the company's financial health and its ability to execute on strategic initiatives.
The staffing industry is often seen as a barometer for economic activity, with declines in staffing demand potentially signaling a broader economic slowdown. GEE Group's reported decrease in direct hire placement services revenues, which are more cyclical in nature, could reflect hesitancy among businesses to commit to permanent hires amidst economic uncertainty.
However, the increase in the professional contract staffing services gross margin for the fiscal fourth quarter suggests a potential shift in the company's service mix or pricing strategies to adapt to market conditions. Investors should consider the staffing industry forecasts and trends as part of their assessment, as these could impact the company's future performance.
Given the company's zero long-term debt and healthy cash balance, GEE Group appears to have a solid financial foundation to navigate through the current economic environment. This financial stability, coupled with ongoing cost reduction efforts, may provide some resilience despite the revenue downturn.
The reported results from GEE Group Inc. reflect the impact of macroeconomic factors such as inflation and higher interest rates on the labor market, particularly within the staffing industry. The company's performance, which aligns with broader industry trends, suggests that businesses are exercising caution in their hiring practices, likely due to fears of a recession.
Despite the downturn, the company's focus on professional IT contract services and the reported low, single-digit growth in this area could indicate a resilient demand for specialized skills, even during economic contractions. This resilience may provide a buffer for the company against the more significant declines seen in other areas, such as industrial staffing services.
Looking forward, the staffing industry may benefit from the ongoing changes in how America works, including the growth of flexible and on-demand workforce needs. GEE Group's ability to adapt to these changes and provide value to corporate clients will be crucial for its long-term success and growth.
JACKSONVILLE, FL / ACCESSWIRE / December 18, 2023 / GEE Group Inc. (NYSE American:JOB) together with its subsidiaries (collectively referred to as the "Company," "GEE Group," "our" or "we"), a provider of professional staffing services and human resource solutions, today announced consolidated results for the fiscal year and fourth quarter ended September 30, 2023. All amounts presented herein are consolidated or derived from consolidated amounts, and are rounded and represent approximations, accordingly.
Fiscal 2023 Full Year and Q4 Highlights
- Revenues for the fiscal year ended September 30, 2023 were
$152.4 million , down$12.7 million , or8% , compared with fiscal 2022 revenues of$165.1 million . Revenues for the fourth quarter ended September 30, 2023 were$34.3 million , down$7.2 million , or18% , compared with fiscal fourth quarter 2022 revenues of$41.5 million . - Gross profit for the fiscal year ended September 30, 2023 was
$52.9 million , down$8.8 million , or14% , compared with fiscal 2022 gross profit of$61.7 million . Gross profit for the fourth quarter of fiscal 2023 was$11.6 million , down$3.5 million , or23% , compared with$15.1 million for the fourth quarter of fiscal 2022. - Net income for the fiscal year ended September 30, 2023 was
$9.4 million , or$0.08 per diluted share, compared with$19.6 million , or$0.17 per diluted share, for fiscal 2022. The Company reported a net income for the fourth quarter of fiscal 2023 of$0.2 million , or$0.00 per diluted share, up$1.0 million , or$0.01 per diluted share, as compared with a net loss of$(0.8) million , or$(0.01) per diluted share, for the fourth quarter of fiscal 2022. - Adjusted net income (a non-GAAP financial measure) for the fiscal year ended September 30, 2023 was
$11.1 million , or$0.10 per diluted share, up$3.4 million , or45% , as compared with$7.7 million , or$0.07 per diluted share, for fiscal 2022. The Company had adjusted net income for the fourth quarter of fiscal 2023 of$1.1 million , or$0.01 per diluted share, up$1.5 million , or360% , from the adjusted net loss of$(0.4) million , or$0.00 per diluted share, reported for the fourth quarter of fiscal 2022. - Adjusted EBITDA (a non-GAAP financial measure) for the fiscal year ended September 30, 2023 was
$7.0 million , down$5.5 million , or44% , as compared with$12.5 million for fiscal 2022. Adjusted EBITDA for the fourth quarter of fiscal 2023 was$1.2 million , up$0.2 million , or23% , as compared with$1.0 million for the fourth quarter of fiscal 2022. - Free cash flow (a non-GAAP financial measure) for the fiscal year ended September 30, 2023 was
$5.8 million as compared with$9.1 million for fiscal 2022. - As of September 30, 2023, cash balance of
$22.5 million , borrowing availability on bank ABL of$11.3 million , and net working capital of$30.3 million , current ratio of 3.7, shareholders' equity of$109.3 million , and zero long term debt. - As of September 30, 2023, the Company has repurchased 3.4 million of its common shares, or
3% of its total outstanding shares at an average price per share of$0.56 per share. As of December 15, 2023, the Company has repurchased 5.8 million shares, or5% of its total outstanding shares at an average price per share of$0.56 per share. - Net book value per share and net tangible book value per share of
$0.98 and$0.36 , respectively, as of September 30, 2023. Net book value per share up$0.10 and net tangible book value per share up$0.11 , compared with$0.88 and$0.25 , respectively, as of September 30, 2022.
Discussion of Fiscal 2023 Full Year and Fourth Quarter Results
Revenues for the fiscal year ended September 30, 2023 were
Revenues for the fiscal fourth quarter ended September 30, 2023, and September 30, 2022, were
Professional services revenues, including contract and direct hire services, for the fiscal year ended September 30, 2023 were
Professional contract services only revenues for the fiscal year ended September 30, 2023 were
Direct hire placement services revenues, all of which are in professional services, for the fiscal year ended September 30, 2023 were
Industrial staffing services revenues were
Gross profits and gross margin (including direct hire placement services, which have a
Professional contract staffing services gross margin (excluding direct hire placement services and industrial contract staffing services) for the fiscal year ended September 30, 2023 was
Industrial contract staffing services gross margin for the fiscal year ended September 30, 2023 was
Selling, general and administrative expenses (SG&A) for the fiscal year ended September 30, 2023 were
SG&A includes certain non-cash costs and expenses incurred related to acquisition, integration and restructuring and other non-recurring activities, such as certain corporate legal and general expenses associated with capital markets activities that either are not directly associated with core business operations or have been eliminated on a going forward basis. These costs were
Income from operations for the fiscal year ended September 30, 2023 was
Net income for the fiscal year ended September 30, 2023 was
Net income adjusted for the effects of non-recurring, non-cash and/or other gain or loss items, including gains from the forgiveness of PPP loans ("adjusted net income (loss)", a non-GAAP financial measure) for the fiscal year ended September 30, 2023 was
Earnings before interest, taxes, depreciation and amortization ("EBITDA", a non-GAAP financial measure), adjusted to eliminate noncash stock and stock option expenses, acquisition, integration and restructuring expenses, gain on extinguishment of debt, and other gains and losses ("adjusted EBITDA", a non-GAAP financial measure) for the fiscal year ended September 30, 2023 was
Free cash flow (a non-GAAP financial measure comprised of net cash flow from operating activities, less capital expenditures) for the fiscal year ended September 30, 2023 was
During the fiscal year ended September 30, 2022, the Company received forgiveness from the U.S. Small Business Administration ("SBA") of its four remaining PPP loans and accrued interest for GEE Group Inc. and its operating subsidiaries, BMCH, Inc., SNI Companies, Inc., and Paladin Consulting, Inc. in the aggregate amount of
Management Comments
Derek E. Dewan, Chairman and Chief Executive Officer of GEE Group, commented, "We are pleased with our ability to generate good cash flow for fiscal 2023, especially considering the volatility and uncertainties that persist in the economy and labor markets. Our professional IT contract services markets had solid performance and turned in low, single digit growth in fiscal 2023 despite an industry-wide slow down. Despite current and potential headwinds, we continue to express the same cautious optimism regarding growth in earnings and free cash flow for fiscal 2024 based on what we are seeing so far. As of December15, 2023, the Company has repurchased 5.8 million shares of our common stock under our share repurchase program. Also, we have recently engaged an investment banking firm to assist us in evaluating strategic alternatives including GEE Group's capital allocation strategy, mergers, acquisitions and other opportunities that are available for us to help grow shareholder value and maximize shareholder returns. We are fortunate to have highly talented and dedicated employees to assist our customers with their ever changing human resource requirements. The flexible, on-demand workforce needs of corporate America remain strong and are growing. There continues to be dynamic changes in how America works that will benefit our Company and the staffing industry as a whole."
Additional Information to Consider in Conjunction with the Press Release
The aforementioned 2023 Fiscal Full Year and Fourth Quarter Highlights and Results should be read in conjunction with all of the financial and other information included in GEE Group's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Forms 8-K and 8-K/A, Registration Statements and Amendments on Forms S-1 and S-3, and Information Statements on Schedules 14A and 14C, filed with the SEC, the discussion of financial results in this press release, and the information included herein regarding the use of non-GAAP financial measures and the related schedules attached hereto which reconcile the related items prescribed by accounting principles generally accepted in the United States ("GAAP" or "U.S GAAP") to the non-GAAP financial information presented herein. These non-GAAP financial measures are not a substitute for the comparable measures prescribed by GAAP as further discussed below in this press release. See "Use of Non-GAAP Financial Measures" and the reconciliations of Non-GAAP Financial Measures used in this press release with the Company's corresponding financial measures presented in accordance with U.S. GAAP below.
Financial information provided in this press release also may consist of or refer to estimates, projected or pro forma financial information and certain assumptions that are considered forward looking statements, are predictive in nature and depend on future events, and any such predicted or projected financial or other results may not be realized nor are they guarantees of future performance. See "Forward-Looking Statements" below which incorporates "Risk Factors" related to the COVID-19 pandemic and other potential items which may possibly have a negative effect on the Company's business.
Use of Non-GAAP Financial Measures
The Company discloses certain non-GAAP financial measures in this press release, including adjusted net income (loss), EBITDA, adjusted EBITDA and free cash flow. Management and the board of directors use and refer to these non-GAAP financial measures internally as a supplement to financial information presented in accordance with U.S. GAAP. Non-GAAP financial measures are used for purposes of evaluating operating performance, financial planning purposes, establishing operational and budgetary goals, compensation plans, analysis of debt service capacity, capital expenditure planning and determining working capital needs. The Company also believes that these non-GAAP financial measures also are considered useful by investors.
Non-GAAP adjusted net income (loss) is defined as net income (loss) adjusted for non-cash stock compensation expenses, acquisition, integration, restructuring and other non-recurring expenses, capital markets-related expenses, gains or losses on extinguishment of debt and noncash goodwill impairment charges.
Non-GAAP EBITDA is defined as net income (loss) before interest, taxes, depreciation and amortization. Non-GAAP adjusted EBITDA is defined as EBITDA, adjusted for the same items used to derive non-GAAP adjusted net income (loss). Non-GAAP free cash flow is defined as cash flow from operating activities, less capital expenditures. Non-GAAP adjusted net income (loss), EBITDA, adjusted EBITDA and free cash flow are not terms proscribed or defined by GAAP and, as a result, the Company's measure of them may not be comparable to similarly titled measures used by other companies. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flow that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. The non-GAAP financial measures discussed above should be considered in addition to, and not as substitutes for, nor as being superior to net income (loss) reported in the consolidated statements of income, cash and cash flows reported in the consolidated statements of cash flows, or other measures of financial performance reflected in the Company's consolidated financial statements prepared in accordance with U.S. GAAP included in Form 10-K and Form 10-Q for their respective periods filed with the SEC, which should be read and referred to in order to obtain a comprehensive and thorough understanding of the Company's financial results.
The reconciliations of net income (loss) to non-GAAP adjusted net income (loss), net income (loss) to non-GAAP EBITDA and non-GAAP adjusted EBITDA, and cash flows from operating activities to non-GAAP free cash flows referred to in the highlights or elsewhere in this press release are provided in the following schedules that also form a part of this press release.
Reconciliation of Net Income to
Non-GAAP Adjusted Net Income
Twelve Month Periods Ended September 30,
(In thousands)
| 2023 | 2022 | ||||||||
Net income | $ | 9,418 | $ | 19,599 | |||||
Non-cash stock compensation | 864 | 635 | |||||||
Gains on PPP loan forgiveness | - | (16,773 | ) | ||||||
Non-cash goodwill impairment charge | - | 2,150 | |||||||
Settlement of legal matter | - | 975 | |||||||
Severance agreements | - | 838 | |||||||
Acquisition, integration & restructuring | 838 | 247 | |||||||
Non-GAAP adjusted net income | $ | 11,120 | $ | 7,671 | |||||
Reconciliation of Net Income to
Non-GAAP Adjusted Net Income
Three Month Periods Ended September 30,
(In thousands)
| 2023 | 2022 | |||||||
Net income | $ | 230 | $ | (789 | ) | |||
Non-cash stock compensation | 188 | 167 | ||||||
Acquisition, integration & restructuring | 708 | 189 | ||||||
Non-GAAP adjusted net income | $ | 1,126 | $ | (433 | ) | |||
Reconciliation of Net Income to
Non-GAAP EBITDA and Adjusted EBITDA
Twelve Month Periods Ended September 30,
(In thousands)
| 2023 | 2022 | |||||||
Net income | $ | 9,418 | $ | 19,599 | ||||
Interest expense | 336 | 377 | ||||||
Interest income | (472 | ) | (16 | ) | ||||
Income taxes | (7,249 | ) | 588 | |||||
Gains on PPP loan forgiveness | - | (16,773 | ) | |||||
Depreciation | 383 | 371 | ||||||
Amortization | 2,879 | 3,469 | ||||||
Non-cash goodwill impairment charge | - | 2,150 | ||||||
Non-GAAP EBITDA | 5,295 | 9,765 | ||||||
Non-cash stock compensation | 864 | 635 | ||||||
Settlement of legal matter | - | 975 | ||||||
Severance agreements | - | 838 | ||||||
Acquisition, integration & restructuring | 838 | 247 | ||||||
Non-GAAP adjusted EBITDA | $ | 6,997 | $ | 12,460 | ||||
Reconciliation of Net Income to
Non-GAAP EBITDA and Adjusted EBITDA
Three Month Periods Ended September 30,
(In thousands)
| 2023 | 2022 | |||||||
Net income | $ | 230 | $ | (789 | ) | |||
Interest expense | 71 | 76 | ||||||
Interest income | (180 | ) | (16 | ) | ||||
Income taxes | (628 | ) | 529 | |||||
Depreciation | 88 | 95 | ||||||
Amortization | 720 | 720 | ||||||
Non-GAAP EBITDA | 301 | 615 | ||||||
Non-cash stock compensation | 188 | 167 | ||||||
Acquisition, integration & restructuring | 708 | 189 | ||||||
Non-GAAP adjusted EBITDA | $ | 1,197 | $ | 971 | ||||
Reconciliation of Net Cash from Operating Activities to
Non-GAAP Free Cash Flow and Adjusted Free Cash Flow
Twelve Month Periods Ended September 30,
(In thousands)
| 2023 | 2022 | |||||||
Net cash provided by operating activities | $ | 5,890 | $ | 9,396 | ||||
Acquisition of property and equipment | (89 | ) | (328 | ) | ||||
Non-GAAP free cash flow | $ | 5,801 | $ | 9,068 | ||||
GEE GROUP INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands except per share data)
| Three Months Ended September 30, | Year Ended September 30, | |||||||||||||||
| 2023 | 2022 | 2023 | 2022 | |||||||||||||
NET REVENUES: | ||||||||||||||||
Contract staffing services | $ | 30,694 | $ | 34,991 | $ | 133,051 | $ | 138,507 | ||||||||
Direct hire placement services | 3,571 | 6,532 | 19,392 | 26,605 | ||||||||||||
NET REVENUES | 34,265 | 41,523 | 152,443 | 165,112 | ||||||||||||
Cost of contract services | 22,653 | 26,442 | 99,571 | 103,434 | ||||||||||||
GROSS PROFIT | 11,612 | 15,081 | 52,872 | 61,678 | ||||||||||||
Selling, general and administrative expenses | 11,311 | 14,466 | 47,577 | 51,913 | ||||||||||||
Depreciation expense | 88 | 95 | 383 | 371 | ||||||||||||
Amortization of intangible assets | 720 | 720 | 2,879 | 3,469 | ||||||||||||
Goodwill impairment charge | - | - | - | 2,150 | ||||||||||||
INCOME FROM OPERATIONS | (507 | ) | (200 | ) | 2,033 | 3,775 | ||||||||||
Gain on extinguishment of debt | - | - | - | 16,773 | ||||||||||||
Interest expense | (71 | ) | (76 | ) | (336 | ) | (377 | ) | ||||||||
Interest income | 180 | 16 | 472 | 16 | ||||||||||||
INCOME BEFORE INCOME TAX PROVISION | (398 | ) | (260 | ) | 2,169 | 20,187 | ||||||||||
Provision for income tax benefit (expense) | 628 | (529 | ) | 7,249 | (588 | ) | ||||||||||
NET INCOME | $ | 230 | $ | (789 | ) | $ | 9,418 | $ | 19,599 | |||||||
BASIC EARNINGS PER SHARE | $ | 0.00 | $ | (0.01 | ) | $ | 0.08 | $ | 0.17 | |||||||
DILUTED EARNINGS PER SHARE | $ | 0.00 | $ | (0.01 | ) | $ | 0.08 | $ | 0.17 | |||||||
WEIGHTED AVERAGE SHARES OUTSTANDING: | ||||||||||||||||
BASIC | 112,935 | 114,253 | 114,021 | 114,139 | ||||||||||||
DILUTED | 113,423 | 114,253 | 114,715 | 114,890 | ||||||||||||
GEE GROUP INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands)
| September 30, | ||||||||
| 2023 | 2022 | |||||||
ASSETS | ||||||||
CURRENT ASSETS: | ||||||||
Cash | $ | 22,471 | $ | 18,848 | ||||
Accounts receivable, less allowances ( | 18,333 | 22,770 | ||||||
Prepaid expenses and other current assets | 847 | 604 | ||||||
Total current assets | 41,651 | 42,222 | ||||||
Property and equipment, net | 846 | 1,140 | ||||||
Goodwill | 61,293 | 61,293 | ||||||
Intangible assets, net | 8,406 | 11,285 | ||||||
Deferred tax assets, net | 7,064 | - | ||||||
Right-of-use assets | 3,637 | 2,830 | ||||||
Other long-term assets | 596 | 784 | ||||||
TOTAL ASSETS | $ | 123,493 | $ | 119,554 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||
CURRENT LIABILITIES: | ||||||||
Accounts payable | $ | 2,762 | $ | 2,958 | ||||
Accrued compensation | 5,464 | 5,750 | ||||||
Current operating lease liabilities | 1,475 | 1,333 | ||||||
Other current liabilities | 1,660 | 5,538 | ||||||
Total current liabilities | 11,361 | 15,579 | ||||||
Deferred tax liabilities, net | - | 528 | ||||||
Noncurrent operating lease liabilities | 2,470 | 1,889 | ||||||
Other long-term liabilities | 361 | 555 | ||||||
Total liabilities | 14,192 | 18,551 | ||||||
Commitments and contingencies (Note 12) | ||||||||
| SHAREHOLDERS' EQUITY | ||||||||
Common stock, no-par value; authorized - 200,000 shares; 114,900 shares issued and 111,489 shares | ||||||||
outstanding at September 30, 2023 and 114,450 shares issued and outstanding at September 30, 2022 | 112,915 | 112,051 | ||||||
Accumulated deficit | (1,630 | ) | (11,048 | ) | ||||
Treasury stock; at cost - 3,411 shares at September 30, 2023 | (1,984 | ) | - | |||||
Total shareholders' equity | 109,301 | 101,003 | ||||||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 123,493 | $ | 119,554 | ||||
About GEE Group
GEE Group Inc. is a provider of specialized staffing solutions and is the successor to employment offices doing business since 1893. The Company operates in two industry segments, providing professional staffing services and solutions in the information technology, engineering, finance and accounting specialties and commercial staffing services through the names of Access Data Consulting, Agile Resources, Ashley Ellis, General Employment, Omni-One, Paladin Consulting and Triad. Also, in the healthcare sector, GEE Group, through its Scribe Solutions brand, staffs medical scribes who assist physicians in emergency departments of hospitals and in medical practices by providing required documentation for patient care in connection with electronic medical records (EMR). Additionally, the Company provides contract and direct hire professional staffing services through the following SNI brands: Accounting Now®, SNI Technology®, Legal Now®, SNI Financial®, Staffing Now®, SNI Energy®, and SNI Certes.
Forward-Looking Statements
In addition to historical information, this press release contains statements relating to possible future events and/or the Company's future results (including results of business operations, certain projections, future financial condition, pro forma financial information, and business trends and prospects) that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, (the "Exchange Act"), and the Private Securities Litigation Reform Act of 1995 and are subject to the "safe harbor" created by those sections. The statements made in this press release that are not historical facts are forward-looking statements that are predictive in nature and depend upon or refer to future events. Such forward-looking statements often contain, or are prefaced by, words such as "will", "may," "plans," "expects," "anticipates," "projects," "predicts," "pro forma", "estimates," "aims," "believes," "hopes," "potential," "intends," "suggests," "appears," "seeks," or variations of such words or similar words and expressions. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and, consequently, as a result of a number of factors, the Company's actual results could differ materially from those expressed or implied by such forward-looking statements. Certain other factors that might cause the Company's actual results to differ materially from those in the forward-looking statements include, without limitation: (i) the loss, default or bankruptcy of one or more customers; (ii) changes in general, regional, national or international economic conditions; (iii) an act of war or terrorism, industrial accidents, or cyber security breach that disrupts business; (iv) changes in the law and regulations; (v) the effect of liabilities and other claims asserted against the Company including the failure to repay indebtedness or comply with lender covenants including the lack of liquidity to support business operations and the inability to refinance debt, failure to obtain necessary financing or the inability to access the capital markets and/or obtain alternative sources of capital; (vi) changes in the size and nature of the Company's competition; (vii) the loss of one or more key executives; (viii) increased credit risk from customers; (ix) the Company's failure to grow internally or by acquisition or the failure to successfully integrate acquisitions; (x) the Company's failure to improve operating margins and realize cost efficiencies and economies of scale; (xi) the Company's failure to attract, hire and retain quality recruiters, account managers and salesmen; (xii) the Company's failure to recruit qualified candidates to place at customers for contract or full-time hire; (xiii) the adverse impact of geopolitical events, government mandates, natural disasters or health crises, force majeure occurrences, global pandemics such as the deadly "coronavirus" (COVID-19) or other harmful viral or non-viral rapidly spreading diseases and such other factors as set forth under the heading "Forward-Looking Statements" in the Company's annual reports on Form 10-K, its quarterly reports on Form 10-Q and in the Company's other filings with the Securities and Exchange Commission (SEC). More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. The Company is under no obligation to (and expressly disclaims any such obligation to) and does not intend to publicly update, revise, or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Contact:
GEE Group Inc.
Kim Thorpe
630.954.0400
invest@geegroup.com
SOURCE: GEE Group Inc.
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