BG Staffing reports Q2 EPS (19c) vs. (4c) last year

Reports Q2 revenue $23.5M vs. $25.7M last year. Interim Co-Chief Executive Officer, Chief Financial Officer and Secretary, Keith Schroeder, said, “The proposed sale of BGSF‘s Professional division to INSPYR is moving along as planned, a proxy statement was filed on July 25th to call for a special meeting of shareholders on September 4th to vote on the transaction. Following the closing of the transaction, we will perform under a Transition Service Agreement, or TSA, for up to six months or longer to help INSPYR stand up the business in their operating environment. We will be paid for those services, and we also plan to continue reducing our overhead costs to align with a smaller, Property Management-focused company. We expect our financial results, post-close, to be noisy for a couple of quarters.”