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BGSF, Inc. provides workforce solutions for the specialized property management industry, with services for multifamily communities, apartment and luxury communities, and commercial properties. The company operates under the BG Staffing go-to-market brand after streamlining around property management staffing and consulting following the divestiture of its professional division.
News about BGSF commonly covers quarterly operating results, continuing and discontinued operations, gross profit trends, earnings-call timing, and capital-allocation actions such as stock repurchases and dividends. Company updates also address PropTech services, including Yardi consultant-network participation, implementation support, system optimization, reporting, integrations, and portfolio-level data and analytics for property owners and managers.
BGSF, a national workforce solutions provider, has acquired Momentum Solutionz for $3.78 million plus up to $2.22 million in performance-based earnouts. This marks BGSF's 12th acquisition since 2009, aimed at enhancing its IT solutions portfolio. Momentum Solutionz reported $3 million in revenues for 2020 and offers consulting and managed IT services, focusing on high-end markets. The acquisition is expected to create synergy, diversify services, and generate higher margins through multi-year customer contracts.
BGSF, Inc. (NYSE: BGSF) has declared a quarterly cash dividend of $0.10 per share, payable on February 26, 2021, to shareholders on record as of February 18, 2021. This payment marks the 25th consecutive quarterly dividend and results in an annualized yield of approximately 3.0% based on the stock's closing price on February 5. CEO Beth A. Garvey emphasized the company's commitment to enhancing shareholder value while pursuing growth initiatives.
BG Staffing, Inc. is rebranding itself as BGSF, Inc., effective February 8, 2021. This name change highlights its broad range of workforce solutions and expertise in various sectors, including IT, Cyber, Finance, and Light Industrial. President and CEO Beth A. Garvey stated that the new name aims to enhance marketability and access to clients. There will be no changes to the stock ticker, which will remain BGSF. The company is recognized as the 70th largest U.S. staffing firm and is focused on scalable growth through acquisitions.
BG Staffing, Inc. (NYSE: BGSF) announced that its President and CEO, Beth A. Garvey, along with CFO Dan Hollenbach, will participate in the Virtual Southwest IDEAS Investor Conference on November 18-19, 2020. They will host virtual one-on-one meetings on November 19. A webcast of their presentation will be available at 7:00 a.m. CST on November 18 via the conference portal and the company’s investor relations website. BGSF is recognized for its workforce solutions across various industries, including IT and finance, and was ranked the 70th largest U.S. staffing company in 2020.
BG Staffing, Inc. (BGSF) announced a quarterly cash dividend of $0.10 per share, marking its 24th consecutive dividend. The third quarter revenues fell to $71.5 million, down 9.9% from 2019, with a net income of $2.6 million ($0.25 per diluted share), a decline from $4.2 million ($0.41 per diluted share) last year. Adjusted EBITDA decreased to $5.5 million, representing 7.7% of revenues. The company emphasized its strategic focus on reinvesting in employees and technology, while navigating the impacts of the Covid-19 pandemic. Upcoming conference call scheduled for today at 4:30 p.m. EST.
BG Staffing announced it will discuss its Q3 2020 financial results on November 5, 2020, at 4:30 p.m. EST during a conference call.
President and CEO Beth Garvey and CFO Dan Hollenbach will host the call, with a related press release issued before market opening on the same day. Participants can dial in via specified numbers or access the live webcast and replay on the company's investor relations website.
BGSF, headquartered in Plano, Texas, provides workforce solutions across various sectors, and it was ranked as the 64th largest U.S. staffing company in 2019.