STAFFING 360 SOLUTIONS, INC. (NASDAQ:STAF) Files An 8-K Results of Operations and Financial Condition
Item 2.02Results of Operations and Financial Condition.
On January 11, 2017, Staffing 360 Solutions, Inc. (the Company)
issued a press release announcing the Companys financial
performance for the fiscal second quarter ended November 30, 2016
(the Earnings Release). This Current Report on Form 8-K is being
filed to provide the Companys Earnings Release before the filing
of the Companys quarterly report on Form 10-Q for the three
months ended November 30, 2016. The Earnings Release is attached
hereto as Exhibit 99.1 and is incorporated herein by reference.
Within the Earnings Release, the Company has provided
supplemental financial information relating to the Companys
financial results for the fiscal second quarter ended November
30, 2016. The supplemental financial information, can be found in
tables at the end of the Earnings Release.
Within the Earnings Release and the supplemental financial
information furnished therein, the Company refers to certain
financial measures that are not in accordance with generally
accepted accounting principles in the United States of America
(“GAAP”), such as adjusted EBITDA. For purposes of Regulation
G, a non-GAAP financial measure is a numerical measure of a
company’s historical or future financial performance, financial
position or cash flows that excludes amounts, or is subject to
adjustments that have the effect of excluding amounts, that are
included in the most directly comparable measure calculated and
presented in accordance with GAAP in the statements of income,
balance sheets or statements of cash flows (or equivalent
statements) of the company, or includes amounts, or is subject to
adjustments that have the effect of including amounts, that are
excluded from the most directly comparable measure so calculated
and presented.
The Company believes that these non-GAAP measures represent
important internal measures of performance as management uses
such measures in monitoring and evaluating the Companys ongoing
financial results, as well as to reflect the Companys
acquisitions. Management believes that these measures provide a
more complete understanding of the Companys operational results
and a meaningful comparison of the Companys performance between
periods. These non-GAAP measures, however, may not reflect the
actual financial results the Company would have achieved absent
such acquisitions, and may not be indicative of the results that
the Company expects to recognize for future periods. These
non-GAAP measures should be considered in addition to, not a
substitute for, measures of financial performance prepared in
accordance with GAAP.
The information in this Item 2.02 of this Current Report on Form
8-K and Exhibit 99.1 attached hereto shall not be deemed to be
“filed” for purposes of Section 18 of the Securities Exchange
Act of 1934, as amended, or otherwise subject to the liabilities
of that section. The information contained in this Item 2.02 and
Exhibit 99.1 attached hereto shall not be incorporated by
reference into any filing of the Company, whether made before or
after the date hereof, regardless of any general incorporation
language in such filing, unless expressly incorporated by
specific reference to such filing.
Item 9.01Financial Statements and Exhibits.
(d) Exhibits (furnished only).
|
Exhibit No. |
Description |
|
99.1 |
Earnings Release of Staffing 360 Solutions, Inc. dated |
About STAFFING 360 SOLUTIONS, INC. (NASDAQ:STAF)
Staffing 360 Solutions, Inc. operates in the staffing sector. The Company is engaged in the execution of a global buy-and-build strategy through the acquisition of domestic and international staffing organizations in the United States and the United Kingdom. Its targeted consolidation model is focused on the finance and accounting, administrative, engineering and information technology (IT) staffing space. STAFFING 360 SOLUTIONS, INC. (NASDAQ:STAF) Recent Trading Information
STAFFING 360 SOLUTIONS, INC. (NASDAQ:STAF) closed its last trading session up +0.011 at 0.810 with shares trading hands.