Staffing 360 Solutions Inc (STAF)’s Fiscal Second Quarter 2015 Earnings Conference Call Transcript

Q: Congratulations everybody on the positive EBIDTA numbers. Just one comment, in terms of [inaudible]mentioned some [inaudible]due to the winter weather, do you have any expectations on how this will affect the financial first quarter perhaps on a regular basis?

Brendan Flood – Executive Chairman

Michael thanks for your congratulations, this is Brendan. You know, I’ve lived my entire life in the North East of the United States, I could probably give you a very detailed answer to that because we know that every single year, and the snow is going to come. On the positive bases for every million that we would lose in revenue we would only loose something like $160,000 of gross profit so as we move further down final the account, the impact of it is off set fairly materially.

I don’t see us losing any more than maybe a 10% sequential hit, so maybe we’ll be somewhere in the $30 to $31 million. We are not ready right now to give exact guidance on that but I think we’d be pretty comfortable with that, unless there’s something really weird that hasn’t happen for 34 years, that’s the kind of change we would see.

Operator

Thank you, and as a reminder ladies and gentlemen, if you would like to ask a question at this time, please press *1 on your telephone keypad. Please hold while we poll for any additional questions. Thank you, our next question is coming from the line of James Tusido with [inaudible].

Q: Hi, this is James. Quick question here, you mentioned hoping to up lift either the [inaudible] or NYSC, can you provide a little timing on that and what your expectations are on that venue?

Darren Minton – Executive Vice President

As far as exact timing, you know, we just don’t know if a little bit of a black box with NASDAQ or as Brendan mentioned, making progress on that front, I’ve responded to multiple rounds of questions and now that our latest quarterly financials are released, we’ll be reviewing that and that was one thing they wanted to wait on. So, we’ve definitely moved through different [inaudible]and we believe that we’ll be hopefully in this quarter but as far as exact timing on a specific week, we just don’t know.

Operator

Thank you, our next question is coming from the line Douglas Gas of [inaudible] Capital, please proceed with your question.

Q: Good morning, I understand that you finally reached the $130 million on your run rate, which is terrific, congratulations. What are your plans for getting to $300 million?

Brendan Flood – Executive Chairman

Thanks, Doug, this is Brendan again. We actually made no secret of the fact that we are a high growth company through acquisition, so we’re going to go from the $130 million with the organic growth that Matt outlined in his commentary. But our intention is to raise the funding to plug the gas through further acquisitions which we would help to do before the end of the financial year.