Staffing 360 (STAF) Reports Prelim. Q3 Rev. of $43M

Staffing 360 Solutions, Inc. (NASDAQ: STAF) announced today that it expects the Company's reported revenue for the fiscal third quarter ended February 29, 2016 to reach a record of approximately $43 million, an increase of 40% compared to approximately $31 million of revenue reported in the same period last year.

The Company expects to announce its comprehensive financial results for the fiscal quarter ended February 29, 2016 via press release and Form 10-Q before the SEC filing deadline in mid-April, and hold an earnings conference call.

"We are thrilled to announce yet another quarter of record revenue," stated Brendan Flood, Executive Chairman of Staffing 360 Solutions. "Achieving $43 million in revenue in a single quarter is no small feat, and it demonstrates our ability to continually drive growth. The JM Group acquisition initially put us on a trajectory to $170 million in annualized revenue, however, through organic growth, we were able to exceed even that threshold. This will be the largest single quarterly revenue figure in the company's history."

Matt Briand, President and CEO of Staffing 360 Solutions, further remarked, "Achieving this level of revenue is a remarkable achievement and we look forward to sharing more details shortly when we announce our full results in April."

Staffing 360 Solutions believes that a consolidation strategy is ideally suited for the highly fragmented temporary staffing industry. The management team has been engaged in the development of a comprehensive program to create a robust pipeline of prospective acquisitions, with a longer term objective of driving annual revenues to $300 million.

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