Staffing 360 expects revenue to rise 20% in Q2 amid rebound from Covid

Staffing 360 Solutions expects revenue to grow 20% year over year in the second quarter to more than $52 million. The US and UK staffing provider released the projected second-quarter earnings today; the numbers at this time are preliminary and subject to possible change based on new developments or information.

“I’m pleased to report that we are experiencing the deep and wide-spread business opportunities that we expected we would see,” Chairman and CEO Brendan Flood said. “Each of our business streams is showing material recoveries from the difficult period of the Covid-19 pandemic.”

Gross profit is expected to rise 20% in the second quarter as well.

The company also expects to report positive net income. Staffing 360 noted that it completed a series of capital raises in December, February and April. It reported interest charges are expected to be below $1.1 million in the second quarter compared to $2.1 million in the second quarter of 2020.

Staffing 360 also reported that it received notification from the Small Business Administration of the full forgiveness of the $10 million PPP loan made to subsidiary Monroe Staffing Services LLC.

The original article can be found at: Staffing Industry Analysts