Investors cheered the company’s results pushing shares in Staffing 360 Solutions up 26% to $2.08 at the opening bell on Wednesday.
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The New York-based group of staffing organizations said late Tuesday that first quarter revenue was $73.8 million, versus $55.7 million in the same quarter last year, with organic growth of $4.9 million.
Net income was $200,000, compared with a net loss of $1.3 million in the prior-year quarter. And income from operations was $700,000, versus a loss of $400,000 in 2018.
“The company’s first ever report of positive net income is a tremendous milestone for us,” said CEO Brendan Flood.
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