Delaware | 001-36704 | 26-0656684 |
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) |
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02 | Results of Operations and Financial Condition. |
Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits |
99.1 | Press release dated November 3, 2014. |
BG STAFFING, INC. | ||
Date: November 3, 2014 | /s/ Michael A. Rutledge | |
Name: Title: | Michael A. Rutledge Chief Financial Officer and Secretary (Principal Financial Officer) |
Exhibit No. | Description |
99.1 | Press release dated November 3, 2014 |
Thirteen Weeks Ended | Thirty-nine Weeks Ended | ||||||||||||||
Sep 28, 2014 | Sep 29, 2013 | Sep 28, 2014 | Sep 29, 2013 | ||||||||||||
Revenues | $ | 48,008 | $ | 47,866 | $ | 129,875 | $ | 107,882 | |||||||
Gross profit | $ | 9,986 | $ | 9,110 | $ | 26,162 | $ | 20,628 | |||||||
Sales, general and administrative | $ | 6,223 | $ | 5,319 | $ | 18,387 | $ | 13,484 | |||||||
Operating income | $ | 2,710 | $ | 2,572 | $ | 4,189 | $ | 3,762 | |||||||
Income (loss) before income tax | $ | 1,121 | $ | 1,441 | $ | (47 | ) | $ | 1,126 | ||||||
Net income (loss)* | $ | 365 | $ | 841 | $ | (919 | ) | $ | 606 | ||||||
Net income (loss) per diluted share* | $ | 0.06 | $ | 0.15 | $ | (0.16 | ) | $ | 0.11 | ||||||
Weighted average dilutive shares* | 5,752 | 5,719 | 5,602 | 5,662 |
Sep 28, 2014 | Dec 29, 2013 | |||||
Accounts receivable, net | $ | 27,512 | $ | 23,347 | ||
Property and equipment, net | $ | 653 | $ | 523 | ||
Total assets | $ | 59,497 | $ | 58,623 | ||
Total liabilities | $ | 51,288 | $ | 50,520 | ||
Total shareholders' equity | $ | 8,209 | $ | 8,103 |
Thirteen Weeks Ended | Thirty-nine Weeks Ended | |||||||||||||||
Sep 28, 2014 | Sep 29, 2013 | Sep 28, 2014 | Sep 29, 2013 | |||||||||||||
Net income (loss) | $ | 365 | $ | 1,418 | $ | (919 | ) | $ | 1,097 | |||||||
Interest expense, net | 634 | 1,131 | 2,068 | 2,636 | ||||||||||||
Income tax expense | 756 | 23 | 872 | 29 | ||||||||||||
Depreciation and amortization | 1,053 | 1,219 | 3,586 | 3,382 | ||||||||||||
Loss on extinguishment of related party debt | — | — | 987 | — | ||||||||||||
Stock-based compensation | 91 | — | 1,118 | — | ||||||||||||
Transaction fees | — | 33 | — | 491 | ||||||||||||
Put option adjustment | 955 | — | 1,181 | — | ||||||||||||
Adjusted EBITDA | $ | 3,854 | $ | 3,824 | $ | 8,893 | $ | 7,635 |
"P"JM$O!(I#T`.P?0K"W3BBXC`:]OYV&%#`\;4^^J12*0!L^QL0`?67#'X)4++UNUC M3+$R(B+P.D`7`%[%,D\-%K+%>P3@T:[')-*`PZYD<=PQU0\<7BZ6W9SNQ\F7 MOWK0-!D!P'OQO3]@)Z___EH8Z$!H9:4M\S2%[B@+@:9O:;V*-YR12*1!A1VZ MIJ991>6B?XRELP5+'H_OU/(&I#]_XL*U[#.O?EX+/)BTN&7"7]GTLO,*T%69 M6XA)6;./'5AL*5L7F$0B#:YEQQR`MQ@"NKSC-3N!MP.ZUG<">/"O00"\<@CH MTA'N10?P+`*0"70DTAY1,,ZN#3H*P?A=@1_K\NI#93I!T,F"L3D8HP/7U936 MDX]N%6.`3M8TO#&-0$NJ MTH5-QIXI;_G_]8TQ@C;Y]O&X'(&.1!HR-U86M[9@-U_/<)X-,&!@7SDC^N+K M[V`FT#43VIKT..BFF6*2`$#WPH^WF`7H8,5#UL)=3Q'H2*01L.PD"R_J@OFV M6+JP=`!T3YW99^7JBHTW-[ULQYI=`;I_GS6G$]CUQ,9=5Y5M&@./22327K;L M)`LOZFJ$@AQ+%TPG"NA`N-U3*PPD*NA`_/^>A847"G$"'8DT9+"+"#P`7465 M3E30!8%WX2WFVX!NWV7JQ?J.P!.@JU.5(9&&$':.P--NS5[\PQ7';$!W_[M/ MLLV;'E<&,3_YZ%;C)ZM;#1/H/G77&+O[R^-I[OXJQ_(L@4>@(Y&&0&.V!QK& M\+2@TX67!$'WO:N?;Z6)2\A:LHVC`]!]X$"K:$UKD*>EG%#0C.$1Z$BD4;'L M+"R\I2Z`#E3F5EG>%70?O[,-=`R/KT:P\`AT)-(H6G:2A;?.=D,S/(1@TJ!K MLQJYZUJQ`1U`#JPZA6PM/!%C2*`CD48<=L+"JO<`=$W]OKI=/_G;[3B@ M&JT]`AV)-,JPLY(EZ,`RQ,D(X[&_>F:;_?6/VTJ(S3PXOG;Y55;+UXS`(Y%( MPZ?QQ%-T`!V$E]CL8P<*3#ITP.N:8G65V862&,?P2"0267:)@D[^`B
QZ#KJ(P%.N427@D4BD;KJQ!RV/4P8,@TM[S[\^5S.]-A%< M6ABCTRS&!XC9`&R*)?,>61*)-&)NK.WF`05NW7FJ\PUO$VM+)QAX'+9A@$9@ MU=5 ^P;OD.:8J>50X&TH6.H\+02FQGFUYK"9W0HT#F< MX-?Q-. H*:_891KN5<4R[XMQKIW`^>+9-\+N%?\]PW!'(%790_+B M\6,;%F47]2,=>&[';.]?`G5'Y+G&KUG3W!^?_[Z:5/FQSHKRBW;=P+)[MOF? M2/1N@'NZO,$L@%=N'B<#3P(E[%`,[Z+X^35'31MW0N"Q>%D/PTF'=4O0%5Q! MAYIE^BVN%N!A\P=4M'D0^-#G%'F&ZRSP8R"?,RX`55QK18),\#KP^P)>IZXH MEZM4#3XGI0=ELFVL"S&O'?=\\>QK+#S`/B.NP>^E"7@+4N?8,$!N1='!PO7F M^3$-S7-+4@N!3EW9-B!/!@C;EE]59YN<,=39KKFQN\"S6TM;QG&^4(OP],4K M;+=F;ZZT0-#9OGNBPR*,(+')9_##$%QE[.EU\"GC0T]A>F)&&79W66*[;S:# M=*IH$<7IE> HPA%)H$;BHKKB>S;63.-\*#+Q< ML7;-QONR+M5I>$Y%K!]%J9,0SRW-!D?E./45RW] '%.LC("Q.P">Q=;L`AJ]`IUPO[(*D_LX`FQ.U7`0/GFY$@ *G1O,9:,DF\V0W Z_&N%=7>PM,2&8!WW[F[;"8<>@DZW5@/]$`ER5U3C5G-2>,? M!96+BJZP%V(1N38 I2);"H2[>HKE`3]VT7`?,*DE*Z2ACG:@5R6I6 MNFGX?7'`[J.HRSETPUWK:TIR W M]A5T(6IHQJP$?)8LTBDAB$HQ*Y^I P372_VCDLK/SS7L9DL MO`Q[DO^]Z66SS'ZFM2^@PXHZ*[EI83HB8&CC3B$49J+F"1H+#F)#WE;XWP<1 M-K7`<4F-5ZGN32XP_M2$'O;B.9S4&9:8QX(TG.'JSLIMQ;-\QMD!+[]+_3TD MM0\3Z'W;M"=Z5/`9YOZ:PQ;HQ!>P4W$$X'4+=&D /X,4 M]IPPDR6LD,1#7`R0KTF5V&.[DS0YR\8]JW-93&$?"9QOV\$LH3O:=&<=TIT* M#(OL.4%=PO*+CBSG$"*3,GA&D=0;V`&PEC>R#L#K`%U$X'73HDL9K%4=.,0] M.*&P@/),/0;I16D`6/FFL?+E`W#.H+L%Z1:[$;>%KDQ>LN9D*-0P#W.6L,L; M?E_L\OFV]QPF$(Y(]]>U0ZDI[F5&4_=J/9I\L2G_(I8_C>YLS=%RWX.P M$G2.P.NVZ]J0&VW`>DEC@X(>/1OR@'W,]Y4JRT-7F:-6`H0DN!<%*4@U(ST/ M`.PZ_ZW@$JSI.`X3%E>W)O(!XUL60("\G8Z1E[CG]\J=36O OH0H=ICIEWKUF+:;VL] G.IAQ@-LL&<.EC3' 9V^QL3;IWN9#T:B'UHS'`Y5]D M;K.SQW3M(Z1^'8?Q S<,Y6>2.ZN3;/GE#*`3 MPS`99AC#'^];T7>!5XD*N@#PIOF_A4%XJMAS9P)67)MI'^CI\X;T FN%?@M21>V] [LO(V56Y*LF[*A?DRQ`=^]!^O\D@W` M`NUC164)H]6WHH!DAR;Z>@=V@#>31%(<=+TVXU.*\(4T:Q]?*VEZNM;`+4\+ M)@N.BO$,:2>4X&1%%`AY;'<\3ERK)"8"I)U06HNSDPI#08"F0BQ:50-O+GJ' M>SLHLXI)NK/2[*S1]9-F,O/8X)O!Y6(L%3O!(P%+V%<\AT7IV=;Z5'ZY3"85 MI?8!+FHQ4/8,UA61UE)8E((\ [3LT/F)#K#N&AI%L".11@.2B^C.3?=@6>!`BF!' G(@T_Z,`2/,5VQK:*HWH?_B_``$UYE]DZ4&&8`````$E%3D2N0F"" ` end