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GEE Group Inc. (NYSE American: JOB) is a well-established provider of specialized staffing solutions across the United States. With roots tracing back to employment offices operating since 1893, GEE Group has evolved into a diversified staffing company servicing multiple industries.
The company operates in two primary segments: Professional Staffing Services and Industrial Staffing Services. The Professional Staffing Services segment is the more prominent revenue generator, specializing in information technology, engineering, finance, accounting, and healthcare staffing. Their brands, including Access Data Consulting, Agile Resources, Ashley Ellis, General Employment, Omni-One, Paladin Consulting, and Triad, are recognized for providing highly skilled professionals across these specialties.
In the healthcare sector, GEE Group, through its Scribe Solutions brand, provides medical scribes to assist physicians in hospital emergency departments and medical practices, ensuring accurate documentation for patient care in connection with electronic medical records (EMR). Additionally, GEE Group offers contract and direct hire professional staffing services through SNI brands: Accounting Now®, SNI Technology®, Legal Now®, SNI Financial®, Staffing Now®, SNI Energy®, and SNI Certes.
Recent achievements include the announcement of fiscal 2023 results, showcasing resilience in a challenging economic environment. The company's revenues for fiscal 2023 were $152.4 million, with a notable portion coming from professional services. Despite a decline in total revenues compared to the previous year, GEE Group managed to maintain strong client retention rates.
GEE Group has also been proactive in managing its financial health, implementing cost reductions to save approximately $4.0 million annually. The company’s strategic focus includes pursuing growth through mergers and acquisitions, leveraging a strong balance sheet with no debt to capitalize on market opportunities.
Looking ahead, GEE Group remains cautiously optimistic about an economic recovery and its potential to drive demand for staffing services. The company is committed to providing flexible, on-demand workforce solutions to meet the evolving needs of corporate America.
For the latest updates and further information, visit their official website at www.geegroup.com.
GEE Group Inc. (NYSE American: JOB) will present its Fiscal Third Quarter results on August 16, 2022, via a webcast following an announcement of results after market close on August 15, 2022. The investor conference call aims to discuss financials and business developments. Established in 1893, GEE Group specializes in staffing solutions across various sectors, including IT, finance, and healthcare. The company acknowledges the ongoing impacts of COVID-19 on operations and recognizes potential risks that could affect future performance.
GEE Group reported solid fiscal second quarter results ended March 31, 2022, with revenues reaching $39.6 million and $82.5 million for the three and six months, marking increases of 14% and 19% respectively from 2021. Gross profit improved to $14.5 million (36.6% margin) and $30.1 million (36.5% margin). Net income was $1.1 million ($0.01 per share) and $17.8 million ($0.15 per share) for the two periods, contrasts to net losses in 2021. Free cash flow increased to $2.0 million and $4.2 million.
GEE Group Inc. (NYSE American: JOB) announced an investor update webcast on May 17, 2022, at 11 a.m. EDT, to discuss its fiscal Q2 results for the period ending March 31, 2022. Results will be reported after market close on May 16, 2022. The company, a provider of staffing solutions in sectors like IT and healthcare, emphasizes the ongoing impact of COVID-19 on operations. Key challenges include economic conditions and competition. A full replay of the call will be available shortly after the live event on their website.
GEE Group (NYSE American: JOB) will participate in the Sidoti Spring Virtual Small Cap Investor Conference on March 23-24, 2022. CEO Derek Dewan and CFO Kim Thorpe are scheduled to present on March 24 at 12:15 p.m. EDT. Access to the live webcast can be found on GEE Group's website. The Company will also host one-on-one meetings with investors during the conference. A research report by Sidoti analyst Marc Riddick, covering GEE Group, was initiated on March 15, 2022. The Company specializes in staffing solutions across various sectors, including IT and healthcare.
GEE Group reported a strong fiscal first quarter, ending December 31, 2021, with a GAAP net income of $16.7 million or $0.14 per diluted share, up from a net loss of $(315,000) in the prior year. Revenue increased 24% to $42.8 million, driven largely by contract staffing services. Adjusted EBITDA was $3.9 million, reflecting continued operational strength. Despite increased SG&A expenses, gross profit improved to $15.6 million, showcasing a robust 36.4% gross margin.
The company will discuss these results in an investor call on February 16, 2022.
GEE Group Inc. (NYSE American: JOB) announced an investor update conference call scheduled for January 4, 2022, at 10 AM EST. The call aims to discuss the Fourth Quarter and Fiscal Year End results from September 30, 2021, alongside insights into the current quarter and outlook for Fiscal Year 2022. Interested participants can access the call through a webcast link. The company will post its prepared remarks and an updated investor presentation on its website prior to the call.
GEE Group announced significant financial improvements for Q4 and the fiscal year ending September 30, 2021. Revenue in Q4 reached approximately $41.5 million, up 34% from the previous year, with a gross profit of $15.2 million. The company reported a GAAP net income of $3.0 million compared to a loss of $12.6 million in Q4 2020. For the year, revenues totaled $148.9 million, a 15% increase, with adjusted EBITDA of $12.3 million. Additionally, $19.9 million in PPP loans were fully forgiven, resulting in zero debt on a pro forma basis.
GEE Group (NYSE American: JOB) has secured full forgiveness for its $19.9 million Paycheck Protection Program (PPP) loans, including all accrued interest. This marks a significant step in reducing their debt burden, as previous forgiveness in fiscal 2021 totaled approximately $3.4 million in principal. Following this latest update, GEE Group's pro forma balance sheet as of September 30, 2021, will show zero debt. With approximately $10 million in cash and $15 million in credit availability, the company is poised for growth despite ongoing challenges from the COVID-19 pandemic.
GEE Group Inc. (NYSE American: JOB) will present at the LD Micro Main Event from October 12-14, 2021, in Los Angeles. CFO Kim Thorpe and CAO Alex Stuckey are scheduled to speak on October 13 at 12:00 PM PST. They will discuss the company’s operations, financial status, and growth strategy, with a presentation available on the company’s investor relations website. The LD Micro Main Event is a key convention for small-cap investment opportunities, featuring various company presentations and Q&A sessions.
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