GEE Group, Inc. (AMEX:JOB) Q4 2023 Earnings Call Transcript

But we think that the Federal Reserve and that group will actually take appropriate action to stimulate the economy. Once people think things are more normalized, we’ll tend to hire more contact labor, because they’re still a bit uncertain and when they feel really bullish, the perm business kicks in in high gear. We’re hiring people now internally to grow our business, because we measure performance by per desk average. Our per desk average is good but we want more people at that per desk average to get revenue up. We have a huge sales program going on right now in IT that we’re launching. There’s a whole bunch of things we’re doing to get that top line cranked. And on the other hand, you know, we’re very cost conscious. So we’re working on SG&A to keep that lower and in fact reduce it, particularly when your top line is down.

So there’s a lot we’re doing. And I want to assure you that we’re doing it aggressively and judiciously. Another question is please touch on how the new directors added value to GEE Group. I have to say that we recently had a board meeting and the input from the new directors and their perspective has been most valuable to us. We all have a ton of experience but our new directors bring a different view to the table. Our largest shareholder is one of them. The other two directors that came on as well have experience in the industry. And so that’s been most valuable to the executive team to get their perspective, and they are very, very active. So we feel real good about the choices we have made and their contribution to us. I talked about the labor market.

Can you provide an update on your — is the market down enough and you see some. Obviously, some deals will now be cheaper and have been. We have some targets and the multiples low on getting these targets. So is it better than buying stock? That’s an evaluation that will be done by DC Advisory, which will make sense, not to overpay for something when you are trading at a certain multiple. But I think importantly, we want to acquire businesses that grow, that can add EBITDA and top line to our company. So at this point, I would like to terminate the call. And those of you that have follow-up questions or would like to have discussions, let us know. We are happy to address it. We value you as shareholders and we will deliver and work really hard to get our stock price — appropriately priced and more importantly, to move forward in a big way to create value.

And again, thanks again. Have a great holiday season. We wish you all well and trust that we are working very hard to deliver the results that you guys deserve and we deserve. So thanks. That concludes our call.