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http://ymlp313.net/zsNyf2 ——————————————————————————– August 11, 2014 Penny Stock Profile ….
Staffing 360 Solutions, Inc.
(OTCQB: STAF) For complete profile, CLICK HERE: (http://www.allpennystocks.com/aps_us/company_spotlights/archives/staf.asp).
“Since April 2013, Staffing 360 Solutions has closed five significant acquisitions of companies in the United States and United Kingdom that cumulatively generate more than $100 million in revenue. The company has identified a pipeline of approximately 15 more acquisition targets that would represent annual revenue in excess of $300 million.” Company Profile (http://www.allpennystocks.com/aps_us/company_spotlights/archives/staf.asp) Quote & News (http://app.quotemedia.com/quotetools/clientForwardtargetURL=http://www.baystreet.ca/quotedata/partners/allpennystocks/quotes.asp&action=showDetailedQuote&symbol=STAF) BREAKING NEWS RELEASE ON STAFFING 360 SOLUTIONS, INC.
Amended Credit Facility Provides Additional Working Capital for Certain Subsidiaries of Staffing 360 Solutions NEW YORK, NY–(Marketwired – Aug 11, 2014) – Staffing 360 Solutions, Inc. (OTCQB: STAF), a public company engaged in the provision of domestic and international staffing services in the finance and accounting, administrative, engineering, IT and cybersecurity verticals, today announced an increase of its credit facility up to $15 million with Wells Fargo Bank N.A. The amended credit facility expands a previously existing facility with Wells Fargo Bank and the Company`s subsidiary, Monroe Staffing Services, LLC.
“We are pleased to announce our growing relationship with Wells Fargo Bank,” said Brendan Flood, Executive Chairman of Staffing 360 Solutions. “This expanded credit facility enhances Staffing 360`s financial flexibility and supports our internal operations. We look forward to keeping the public apprised of our latest developments as we continue to pursue our high-growth acquisition strategy.” The secured facility will support the ongoing working capital needs of the Company. Additional information on the credit facility will be made available in a forthcoming Form 10-K to be filed with the Securities and Exchange Commission.
This announcement adds to the news of Staffing 360 Solutions` revenue guidance, which is expected to be in excess of $26.8 million for the fiscal quarter ended May 31, 2014. The Company`s sizable growth has been achieved by completing five acquisitions over the past year, including operations in the United States and Europe.
View More: (http://finance.yahoo.com/news/staffing-360-solutions-increases-credit-201500729.html) STAF Profile The financial collapse in 2008 taught companies big and small to better manage resources at virtually every level in order to improve the bottom line as sales languished and slowly recovered. After hundreds of thousands of layoffs as part of the Great Recession, the labor markets have been steadily strengthening, but have taken a bit of a different path than the traditional one to bring workers back on board. Once used almost exclusively to fill short-term demand, staffing agencies have assumed a much greater role in helping companies fill their needs on an everyday basis across all sectors, from blue collar workers to C-level positions.
With fewer resources, companies have turned to staffing companies for their recruitment needs. This saves money across the board as it cuts down on advertising for positions, branding material, culling through resumes, interviewing and many other expenses associated with hiring an employee. Given that staffing agencies are built on intimately defining the personal qualities and experiences of job seekers on their roster, the whole process of using an outside service is more efficient and, quite simply, makes sense rather than trying to conduct the hiring process in-house.
Although there are some instances where critical positions, such as setting up a secure website and managing it as necessary, may not require a full-time employee, coming through a staffing agency doesn’t necessarily mean a temporary job anymore either. A recent study by CareerBuilder showed that 42 percent of companies intend to escalate temporary hiring, with 43 percent hoping that those new hires are transitioned into full-time employees.
This shift in hiring dynamic is equating to a growing staffing industry in spite of a sluggish global economy. The experts at Staffing Industry Analysts forecast that the industry will expand at a 4.6-percent compound annual growth rate across the next eight years.
That’s a formidable CAGR considering that combined annual revenue for the U.S. personnel staffing industry totals about $233 billion.
That revenue is spread far and wide in an industry that is still highly fragmented, despite a brisk pace of merger and acquisition activity that included the number of staffing company transactions increasing about 75 percent from 2011 to 2012. The top 10 companies globally out of the 70,000 private employment services companies still generate about one-third of all industry sales, leaving the remainder to be divvied up by smaller firms. Meritus Capital estimates that there are approximately 15,000 small players with annual sales of less that $20 million. To that point, further consolidation of these smaller companies is a trend that likely will continue and further accelerate against the backdrop of an improved labor market and widespread recognition of the benefits of utilizing staffing agencies.
Staffing 360 Solutions, Inc. (OTCQB:STAF) certainly recognizes the opportunity and has formed the cornerstones of its business model on a strategy of acquisitions of domestic and international staffing companies. The New York City-based company, with operations in Europe as well, is targeting a broad spectrum of acquisition candidates in the high margin industries of finance and accounting, administrative, engineering, IT and cybersecurity. Selecting these regions is an astute decision, as Europe is the largest market in the world, with 40 percent of annual revenue, followed by the U.S. Over the past year or so, Staffing 360 Solutions has been maintaining a steady pace of acquisitions, a move that positions the little-known company with considerable upside.
Since April 2013, Staffing 360 Solutions has closed five significant acquisitions of companies in the United States and United Kingdom that cumulatively generate more than $100 million in revenue. The company acquired Massachusetts-based cybersecurity firm Cyber 360 Solutions in April. Subsequent to the acquisition, Staffing 360 Solutions launched a new division called Cyber 360 Solution to specifically cater to placing high-tech personnel in the cybersecurity industry with a focus on cyberterrorism. This is a high-growth segment that has been a topic of tremendous scrutiny due to the countless data breaches of major corporations and escalating tensions internationally recently. In short, it’s the right place at the right time for Staffing 360 Solutions to have an experienced professional roster and a branded division in the space.
That acquisition was followed by the November purchase of Control Solutions International, a risk management, consulting and Information Technology company based in Boston with clients in 35 countries around the world. In January, the company acquired UK-based Initio International Holdings, a full-service staffing company that churned-out$80 million in revenue in 2013. The next month, Staffing 360 Solutions acquired Poolia UK Ltd., a London-based company providing temporary, contract and permanent professionals to its banking, financial and commercial clients. Most recently, Staffing 360 Solutions brought PeopleSERVE under its umbrella in May. PeopleSERVE provides IT professional and management consultants on a contract and direct hire basis to state and local government, multinational and regional businesses and entrepreneurial firms throughout the greater Boston area.
Staffing 360 Solutions doesn’t appear to be slowing its acquisition pace, saying in its Investor Fact Sheet that it has identified a pipeline of approximately 15 more companies as acquisition targets that would represent annual revenue in excess of $300 million.
The company seems well on its way to meet its goal of $300 million in sales through accretive acquisitions. Looking back to May 2013, Staffing 360 Solutions was only posting quarterly revenue of $557,000.
Sales more than doubled by August and mushroomed to $16.91 million for the quarter ended February 28, 2014. In June, the company issued its guidance for the quarter ended May 31, forecasting that revenue for the latest quarter was again expected to jump significantly to exceed $26.8 million, up from the $24.1 million it previously guided.
Compared to the year prior quarter, that’s a stunning increase of 4,711 percent.
It takes a seasoned management team to spearhead and lead such rapid expansion and Staffing 360 Solutions has just that. Brandan Flood, the former head of Initio, serves as Executive Chairman. Flood has a long history of top level leadership positions, including seven years at Hudson Global(NASDAQ:HSON), where he lead the company’s IPO to listing on the Nasdaq exchange in 2003. Before the IPO, Hudson was part of what is now Monster Worldwide, Inc., the parent company of the online job giant Monster.com, for which Flood was responsible. When Monster Worldwide was restructured, Flood became CFO for all of the company’s operations in the Americas, which amounted to $1.8 billion of annualized revenues.
Matt Briand is CEO of Staffing 360 Solutions, as well as President and CEO of the company’s subsidiary Monroe Staffing Services. With nearly two decades in the industry, Briand has received numerous honors and built Monroe Staffing from 35 employees and $34 million in sales to 90 employees and sales of $80 million. Alfonso Cervantes, a founder of Staffing 360 Solutions, holds the positions of Vice Chairman and President. Since 2002, Cervantes has been Chairman and CEO of the financial services group Trilogy Capital Partners where he has been directly involved in M&As, financings, APOs, strategic communications and reorganization of middle-market companies. Jeff Mitchell completes the executive team as CFO, bringing more than 25 years of accounting and M&A expertise in the staffing industry to the company. In addition to previously serving as CFO of two other public companies, Mitchell has led more than 40 acquisitions in the staffing industry.
With the revenue that Staffing 360 Solutions is posting and the management team at the helm, this is a company primed for an up list to a senior exchange if they continue to execute the way that they have. The company has recently added three independent directors to its board, additions that not only strengthen the management team, but meet requirements to align the company for an application to up list to either Nasdaq or the NYSE “in the latter part of this year,” according to Brendan Flood in a May statement. Depending on where they are aiming to list, the share price is going to have to inch up from current levels around$1.90, but considering that the company is on track for annual revenue of $107 million (based on last quarter) and still only commands a market capitalization of $58.2 million, it seems quite probable that the latest sales figures are not yet figured into the company’s valuation by Wall Street. It is for this reason, as well as the one’s mentioned above, that we at AllPennyStocks.com have decided to turn our latest corporate spotlight on Staffing 360 Solutions, Inc. (OTCQB:STAF) and encourage all of our members to promptly begin their due diligence and immediately add the company to their watchlists.
As always, more information on the Company can be found on AllPennyStocks.com, or by clicking here: (http://www.allpennystocks.com/aps_us/company_spotlights/archives/staf.asp).
INVESTMENT HIGHLIGHTS * Focused on Growing, Fragmented Industry. The annual revenue in the U.S. personnel staffing industry totals about $233 billion. There are about 15,000 small companies operating in this space with sales less than $20 million annual.
* Rapid Execution of Acquisitions. Since April 2013, Staffing 360 Solutions has closed five significant acquisitions of companies in the United States and United Kingdom that cumulatively generate more than $100 million in revenue. The company has identified a pipeline of approximately 15 more acquisition targets that would represent annual revenue in excess of $300 million.
* Revenue Soaring Year-Over-Year. For the latest quarter ended May 31, Staffing 360 Solutions has forecast sales of in excess of $26.8 million. This compares to revenue of $557,000 in the same quarter last year, representing an increase of 4,177%.
* Experienced Management. Executive Chairman Brandan Flood led the IPO of Hudson Global on the Nasdaq exchange and has served as CFO of operations in the Americas of Monster Worldwide, which generated $1.8 billion of annualized revenues. Other Staffing 360 Solutions executives, such as President and founder Alfonso Cervantes, CEO Matt Briand and CFO Jeff Mitchell have extensive experience in the staffing sector, public companies and dozens of merger and acquisitions to their credit.
OVERVIEW Staffing 360 Solutions, Inc. is a public company in the staffing sector engaged in the execution of a global consolidation strategy through the acquisition of domestic and international staffing organizations with operations in the US and Europe. As part of its targeted consolidation model, Staffing 360 Solutions is pursuing broad spectrum staffing companies in the finance and accounting, administrative, engineering, IT and cybersecurity industries. The Company believes the staffing industry offers opportunities to create a successful public company with a longer term objective of accretive acquisitions that will drive annual revenues to $300 million.
Corporate Information * Exchange: OTCQB * Market Cap: 58.2 Million * Outstanding Shares: 30.6 Million * Price: $1.90 * 52 Week Low / High:$0.55 / $2.20 * Information As Of August 11, 2014 Useful Profile Links * Corporate Write-Up (http://www.allpennystocks.com/aps_us/company_spotlights/archives/staf.asp) * Recent News & Press Releases (http://www.allpennystocks.com/aps_us/company_spotlights/archives/staf.asp) * Management Team (http://www.allpennystocks.com/aps_us/company_spotlights/archives/staf.asp) * Contact Information (http://www.allpennystocks.com/aps_us/company_spotlights/archives/staf.asp) Forward Looking Statements This report includes forward-looking statements that reflect Staffing 360 Solutions, Inc. current expectations about its future results, performance, prospects and opportunities. Staffing 360 Solutions, Inc.
has tried to identify these forward-looking statements by using words and phrases such as “may,” “will,” “expects,””anticipates,” “believes,” “intends,””estimates,” “plan,” “should,” “typical,””preliminary,” “we are confident” or similar expressions.
These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause Staffing 360 Solutions, Inc.`s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company`s growth expectations and ongoing funding requirements, and specifically, the Company`s growth prospects with scalable customers, and those outlined above. Other risks include the Company`s limited operating history, the Company`s history of operating losses, consumers` acceptance, the Company`s use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company`s securities, the possible volatility of the Company`s stock price, the concentration of ownership, and the potential fluctuation in the Company`s operating results.
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For more information see our disclaimer section, a link of which can be found on our web site. This document contains forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Actual results may differ materially from the Company`s expectations and estimates.
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