BGSF Q2 revenue falls on lower billable hours - BGSF News | RalliesBGSF Q2 revenue falls on lower billable hours
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BGSF• Outlook
- Company expects to benefit from cost reductions and operational streamlining in Q3
- BGSF anticipates its PropTech services strategy will build a solid sales funnel for the coming year
- Company says Q3 is seasonally its strongest quarter
Overview
- US workforce solutions provider's fiscal Q2 revenue declined yr/yr due to lower billable hours
- Adjusted EPS loss for fiscal Q2 narrowed from prior year
- Company reduced costs and streamlined operations following end of transition services agreement
Key details
| Metric | Actual |
|---|
| Q2 Revenue | $22.31 mln |
| Q2 Adjusted Loss Per Share | $0.02 |
Result Drivers
- Lower billable hours - Co said Q2 revenue decline was driven by fewer billable hours compared to prior year
- Cost reductions - Co said decrease in net loss was primarily driven by reduction in selling, general, and administrative expenses
- - Co said it continued to streamline operations in both front office and back office following end of transition services agreement with INSPYR
Organizational streamlining
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