ATLANTA, GA--(NewMediaWire - Feb 9, 2017) - The Staffing Group,
Ltd. (OTC
PINK: TSGL) (the "Company"), an emerging public company
specializing in leveraged buyout transactions and restructurings
with a focus on verticals within the 115 billion dollar U.S.
staffing industry, today reported preliminary results for the full
year ended December 31, 2016.
For fiscal year 2016, the company expects to report revenue of
approximately $4.2 million and a gross profit of $1.36 million,
representing a 32% gross profit margin.
"Our business performed extremely well in 2016. While we are
actively seeking acquisition opportunities, we also expect to drive
revenue growth organically through locations we currently operate
and by opening additional locations throughout fiscal 2017," stated
Kim Thompson, the Company's Chief Executive Officer. "I am excited
about our growth prospects for 2017 and look forward to sharing our
annual goals with shareholders in future communications."
About The Staffing Group, Ltd.
The Staffing Group, Ltd. is executing an aggressive
buy-and-build strategy through the acquisition and integration of
small to medium sized staffing businesses with focus on the light
industrial, engineering, manufacturing and construction staffing
space. The Company believes the light industrial staffing segment
is ripe for consolidation and will seek accretive acquisitions that
will drive annual revenues to $75 million within the next 3
years.
Safe Harbor Statement
This release contains statements that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These statements appear in a number of places
in this release and include all statements that are not statements
of historical fact regarding the intent, belief or current
expectations of The Staffing Group, Ltd.., its directors or its
officers with respect to, among other things: (i) financing plans;
(ii) trends affecting its financial condition or results of
operations; (iii) growth strategy and operating strategy. The words
"may", "would", "will", "expect", "estimate", "can", "believe",
"potential", and similar expressions and variations thereof are
intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond The Staffing Group, Ltd.'s
ability to control, and that actual results may differ materially
from those projected in the forward-looking statements as a result
of various factors. More information about the potential factors
that could affect the business and financial results is and will be
included in The Staffing Group, Ltd.'s filings with the U.S.
Securities and Exchange Commission.