Welcome to our dedicated page for Gee Group news (Ticker: JOB), a resource for investors and traders seeking the latest updates and insights on Gee Group stock.
Gee Group Inc. (JOB) provides specialized staffing solutions across professional, commercial, and healthcare sectors through brands including SNI Companies and Scribe Solutions. This news hub offers investors and business professionals centralized access to official corporate announcements and market developments.
Track key operational updates including quarterly earnings, leadership changes, strategic partnerships, and industry recognition. Our curated collection features press releases on contract awards, service expansions, and human capital management innovations within the staffing sector.
Discover comprehensive coverage of the company's dual-segment operations: professional staffing for IT, engineering, and finance roles alongside commercial staffing solutions. Stay informed about healthcare staffing initiatives through Scribe Solutions' medical documentation specialists.
This resource serves investors monitoring JOB's market position, analysts evaluating staffing industry trends, and businesses assessing workforce solutions. Content is maintained for accuracy and relevance without speculative commentary.
Bookmark this page for ongoing access to verified updates about Gee Group's national staffing operations, brand developments, and human resource strategies. Check regularly for new filings and material disclosures.
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.
GEE Group reported robust financial results for Q3 fiscal 2021, with revenues of approximately $38.1 million, reflecting a 43.1% year-over-year increase. Gross profit rose 43.0% to roughly $13.8 million, while adjusted EBITDA surged 129% to approximately $3.1 million. Operating income improved to $1.6 million from a net loss of $1.7 million in Q3 2020. However, the company reported a net loss of $0.9 million. Cash and cash equivalents stood at $7.4 million, with $77.6 million in shareholders' equity.
GEE Group Inc. (NYSE: JOB) will report its fiscal third quarter results for the period ending June 30, 2021, on August 16, 2021. Following the earnings release, a conference call is scheduled for August 17, 2021, at 10:00 AM ET. Participants can join via specific dial-in numbers and passcodes provided in the press release. A replay of the call will also be available from August 17 to August 20, 2021. Details regarding this call, including access numbers for international participants, will be accessible on the Company's website.
CIT Group Inc. (NYSE: CIT) announced it acted as the agent and sole lender for a $20 million loan and revolving credit facility for GEE Group Inc. (NYSE American: JOB). The funding will be used to pay off existing debts and support working capital. GEE Group, based in Jacksonville, Florida, provides staffing and HR solutions across various sectors. The financing aids GEE Group's growth strategy while ensuring their financial stability, according to CEO Derek Dewan. CIT's Asset-Based Lending division focuses on meeting client needs with innovative financing structures.
GEE Group reported a revenue of $34.7 million for Q2 2021, a slight increase from the previous year. Operating income rose to $637,000 compared to a loss of $(2.4) million in Q2 2020. Adjusted EBITDA improved significantly to $2 million, up from $783,000 YoY. The company benefited from a $279,000 gain from the forgiveness of a PPP loan and closed a new $20 million ABL credit facility. Total cash at quarter-end stood at $14.3 million.
GEE Group Inc. (JOB) announced the full exercise of a 15% over-allotment option, selling an additional 12,499,999 shares at $0.60 each, generating approximately $7.5 million. This follows a prior public offering of 83,333,333 shares that raised about $50 million. Proceeds will be used to pay off $56 million in debt and cover $5 million in fees owed to lenders, with remaining funds allocated for general corporate purposes and potential acquisitions. The company is involved in providing staffing solutions across several sectors, including healthcare and technology.
GEE Group Inc. (JOB) has successfully repaid approximately $56 million in outstanding debt using proceeds from a public offering and available cash. This repayment decreases their debt load by about $103 million, leading to an estimated annual interest savings of $12 million.
CEO Derek Dewan noted that this milestone strengthens the company's financial position, enabling planned growth through acquisitions and organic strategies. GEE also anticipates closing a $20 million revolving credit facility at a significantly reduced interest rate, further enhancing financial stability.
GEE Group Inc. (AMEX:JOB) announced the closing of its public offering of 83,333,333 shares at $0.60 each, netting approximately $50 million. This offering includes a 45-day option for underwriters to purchase an additional 12,499,999 shares. Funds will address $55 million in outstanding debts and support general corporate purposes, including working capital and acquisitions. ThinkEquity managed the offering. The company, which provides staffing services in IT, engineering, finance, and healthcare, faces potential headwinds due to the ongoing impact of COVID-19 on business operations.
