Staffing 360 Solutions, Inc. (NASDAQ:STAF) announced on Thursday a revenue guidance for the fiscal year (FY) 2016. The company expects its FY 2016 revenue to come in at $165 million, which indicates a 28% increase from the previous year’s $129 million revenue.
Similarly, Staffing 360 Solutions expects a 38% year-over-year revenue jump for the fourth quarter that ended on May 31. The company expects a quarterly revenue of $44 million for the period.
Matt Briand, Staffing 360 Solutions President and CEO, said that this is by far the biggest quarterly revenue figure of the company. He elaborated that realizing such revenue growth is a significant milestone not only for the company but for all of its employees as well.
Consolidation Strategy
Brendan Flood, Staffing 360 Solutions Executive Chairman, reiterated that the company continues to bring in record revenue each period. Furthermore, this strongly indicates the efficiency of the company’s consolidation strategy.
The company believes that its consolidation strategy is perfect for the temporary staffing industry.
Acquisitions
Flood stated that the company’s main focus is to boost and realize revenue growth with its acquisitions.
To further its consolidation strategy, Staffing 360 Solutions has dedicated itself to creating a comprehensive program that seeks to evaluate potential acquisitions. Primarily, the efforts are geared toward Staffing 360 Solutions’ long-term growth prospects of generating annual revenues of up to $300 million.
During the FY 2016, Staffing 360 Solutions acquired Lighthouse Placement Services and The JM Group.
LD Micro Invitational Conference Presentation
Earlier this week, Staffing 360 Solutions presented at the LD Micro Invitational Conference at California.
David Faiman, Staffing 360 Solutions Chief Financial Officer (CFO), and Darren Minton, Staffing 360 Solutions Executive Vice President (EVP) presented the company’s compelling growth strategy at the conference.
According to Faiman, the California-based conference is by far the third conference in Staffing 360 Solutions’ Investor Outreach Campaign. In line with this, Faiman on behalf of the company expressed that he is excited to share with investors the success of the company.
Staffing 360 Solutions will reveal the actual FY results before the Securities and Exchange Commission (SEC) filing deadline.
