$BGSF
BGSF, INC. Stock $bgsf

$bgsf Overview Financials Valuation SEC Filings Company Website

2016 Q1 Form 10-Q Financial Statement

#000147490316000100 Filed on April 28, 2016

Income Statement

Concept	2016 Q1	2015 Q1
Revenue	$59.55M	$40.88M
YoY Change	45.66%	4.73%
Cost Of Revenue	$46.20M	$32.54M
YoY Change	41.98%	3.89%
Gross Profit	$13.35M	$8.341M
YoY Change	60.01%	8.16%
Gross Profit Margin	22.41%	20.4%
Selling, General & Admin	$8.903M	$6.348M
YoY Change	40.24%	-2.42%
% of Gross Profit	66.71%	76.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$1.781M	$1.129M
YoY Change	57.85%	-16.33%
% of Gross Profit	13.35%	13.53%
Operating Expenses	$8.903M	$6.348M
YoY Change	40.24%	-2.42%
Operating Profit	$2.662M	$864.0K
YoY Change	208.12%	-704.35%
Interest Expense	-$1.280M	-$550.0K
YoY Change	132.73%	-29.49%
% of Operating Profit	-48.08%	-63.66%
Other Income/Expense, Net
YoY Change
Pretax Income	$1.383M	$311.2K
YoY Change	344.26%	-116.26%
Income Tax	$549.4K	$147.0K
% Of Pretax Income	39.74%	47.22%
Net Earnings	$833.1K	$164.2K
YoY Change	407.28%	-110.73%
Net Earnings / Revenue	1.4%	0.4%
Basic Earnings Per Share	$0.11	$0.02
Diluted Earnings Per Share	$0.11	$0.02
COMMON SHARES
Basic Shares Outstanding	7.389M shares	6.598M shares
Diluted Shares Outstanding	7.647M shares	6.936M shares

Balance Sheet

Concept	2016 Q1	2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents	$0.00	$0.00
Short-Term Investments
Other Short-Term Assets	$154.7K	$640.9K
YoY Change	-75.87%	46.05%
Inventory
Prepaid Expenses	$950.7K	$569.8K
Receivables	$33.33M	$23.93M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$34.43M	$25.14M
YoY Change	36.98%	7.57%
LONG-TERM ASSETS
Property, Plant & Equipment	$1.911M	$818.9K
YoY Change	133.34%	54.71%
Goodwill	$9.185M	$7.817M
YoY Change	17.49%	33.32%
Intangibles	$23.51M	$19.86M
YoY Change	18.42%	17.67%
Long-Term Investments
YoY Change
Other Assets	$44.87M	$37.64M
YoY Change	19.19%	15.88%
Total Long-Term Assets	$46.78M	$38.46M
YoY Change	21.62%	16.5%
TOTAL ASSETS
Total Short-Term Assets	$34.43M	$25.14M
Total Long-Term Assets	$46.78M	$38.46M
Total Assets	$81.21M	$63.60M
YoY Change	27.69%	12.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$951.7K	$1.016M
YoY Change	-6.3%	-38.33%
Accrued Expenses	$9.668M	$6.591M
YoY Change	46.69%	-14.21%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due		$2.438M
YoY Change		8.33%
Total Short-Term Liabilities	$15.25M	$14.41M
YoY Change	5.84%	-12.1%
LONG-TERM LIABILITIES
Long-Term Debt	$14.75M	$14.31M
YoY Change	3.06%	-13.93%
Other Long-Term Liabilities	$271.8K	$5.002M
YoY Change	-94.57%	80.16%
Total Long-Term Liabilities	$15.02M	$19.31M
YoY Change	-22.23%	-0.47%
TOTAL LIABILITIES
Total Short-Term Liabilities	$15.25M	$14.41M
Total Long-Term Liabilities	$15.02M	$19.31M
Total Liabilities	$40.73M	$47.02M
YoY Change	-13.38%	-4.03%
SHAREHOLDERS EQUITY
Retained Earnings	$4.259M	$5.727M
YoY Change	-25.63%	5.06%
Common Stock	$86.69K	$65.98K
YoY Change	31.38%	21.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$40.49M	$16.58M
YoY Change
Total Liabilities & Shareholders Equity	$81.21M	$63.60M
YoY Change	27.69%	12.8%

Cashflow Statement

Concept	2016 Q1	2015 Q1
OPERATING ACTIVITIES
Net Income	$833.1K	$164.2K
YoY Change	407.28%	-110.73%
Depreciation, Depletion And Amortization	$1.781M	$1.129M
YoY Change	57.85%	-16.33%
Cash From Operating Activities	$4.840M	$2.220M
YoY Change	118.02%	-22.11%
INVESTING ACTIVITIES
Capital Expenditures	-$240.0K	-$200.0K
YoY Change	20.0%	300.0%
Acquisitions	$0.00	$8.500M
YoY Change	-100.0%
Other Investing Activities	$10.00K	-$8.500M
YoY Change	-100.12%
Cash From Investing Activities	-$230.0K	-$8.700M
YoY Change	-97.36%	17300.0%
FINANCING ACTIVITIES
Cash Dividend Paid	$1.847M	$989.7K
YoY Change	86.62%
Common Stock Issuance & Retirement, Net	$0.00	-$5.712K
YoY Change	-100.0%
Debt Paid & Issued, Net	$0.00	$562.5K
YoY Change	-100.0%	-1.87%
Cash From Financing Activities	-4.610M	6.480M
YoY Change	-171.14%	-331.43%
NET CHANGE
Cash From Operating Activities	4.840M	2.220M
Cash From Investing Activities	-230.0K	-8.700M
Cash From Financing Activities	-4.610M	6.480M
Net Change In Cash	0.000	0.000
YoY Change
FREE CASH FLOW
Cash From Operating Activities	$4.840M	$2.220M
Capital Expenditures	-$240.0K	-$200.0K
Free Cash Flow	$5.080M	$2.420M
YoY Change	109.92%	-16.55%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2015Q1	bgsf	Put Option Adjustment PutOptionAdjustment	21089	USD
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CY2016Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2016Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2016
CY2016Q1	dei	Document Period End Date DocumentPeriodEndDate	2016-03-27
CY2016Q1	dei	Document Type DocumentType	10-Q
CY2016Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001474903
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CY2016Q1	dei	Entity Filer Category EntityFilerCategory	Smaller Reporting Company
CY2016Q1	dei	Entity Registrant Name EntityRegistrantName	BG Staffing, Inc.
CY2016Q1	dei	Trading Symbol TradingSymbol	BGSF
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CY2015Q1	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-8698586	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-228729	USD
CY2015Q1	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	2218964	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	4843544	USD
CY2015Q1	us-gaap	Net Income Loss NetIncomeLoss	164236	USD
CY2016Q1	us-gaap	Net Income Loss NetIncomeLoss	833138	USD
CY2016Q1	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	3	segment
CY2015Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	864001	USD
CY2016Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	2662161	USD
CY2015Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	2578797	USD
CY2016Q1	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	2184880	USD
CY2015Q4	us-gaap	Other Assets Current OtherAssetsCurrent	134170	USD
CY2016Q1	us-gaap	Other Assets Current OtherAssetsCurrent	203491	USD
CY2015Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	49590896	USD
CY2016Q1	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	48314561	USD
CY2015Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	1459838	USD
CY2016Q1	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	513101	USD
CY2015Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	327344	USD
CY2016Q1	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	321717	USD
CY2015Q1	us-gaap	Paid In Kind Interest PaidInKindInterest	121667	USD
CY2016Q1	us-gaap	Paid In Kind Interest PaidInKindInterest	115014	USD
CY2015Q1	us-gaap	Payments Of Dividends PaymentsOfDividends	989722	USD
CY2016Q1	us-gaap	Payments Of Dividends PaymentsOfDividends	1846989	USD
CY2015Q1	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	43876	USD
CY2016Q1	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	0	USD
CY2015Q1	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	8500000	USD
CY2016Q1	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	0	USD
CY2015Q1	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	198586	USD
CY2016Q1	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	236305	USD
CY2015Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2016Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2015Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	500000	shares
CY2016Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	500000	shares
CY2015Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2016Q1	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2015Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2016Q1	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2015Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2016Q1	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2015Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	861146	USD
CY2016Q1	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	863231	USD
CY2015Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	-5712	USD
CY2016Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	0	USD
CY2015Q1	us-gaap	Proceeds From Repayments Of Lines Of Credit ProceedsFromRepaymentsOfLinesOfCredit	8400000	USD
CY2016Q1	us-gaap	Proceeds From Repayments Of Lines Of Credit ProceedsFromRepaymentsOfLinesOfCredit	-1151000	USD
CY2015Q1	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	0	USD
CY2016Q1	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	7576	USD
CY2015Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1489061	USD
CY2016Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1614705	USD
CY2015Q1	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	69756	USD
CY2016Q1	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	0	USD
CY2015Q1	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	562500	USD
CY2016Q1	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	0	USD
CY2015Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	5407596	USD
CY2016Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	4393745	USD
CY2015Q1	us-gaap	Sales Revenue Services Net SalesRevenueServicesNet	40884144	USD
CY2016Q1	us-gaap	Sales Revenue Services Net SalesRevenueServicesNet	59550986	USD
CY2015Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	6348428	USD
CY2016Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	8902999	USD
CY2015Q1	us-gaap	Share Based Compensation ShareBasedCompensation	59935	USD
CY2016Q1	us-gaap	Share Based Compensation ShareBasedCompensation	70901	USD
CY2016Q1	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	70901	USD
CY2015Q4	us-gaap	Stockholders Equity StockholdersEquity	25928424	USD
CY2016Q1	us-gaap	Stockholders Equity StockholdersEquity	24985474	USD
CY2015Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	6935949	shares
CY2016Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	7646726	shares
CY2015Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	6598145	shares
CY2016Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	7388536	shares
CY2015Q4	us-gaap	Workers Compensation Liability Current WorkersCompensationLiabilityCurrent	788878	USD
CY2016Q1	us-gaap	Workers Compensation Liability Current WorkersCompensationLiabilityCurrent	953453	USD
CY2016Q1	us-gaap	Fiscal Period FiscalPeriod	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Fiscal Periods</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has a 52/53 week fiscal year. Fiscal periods for the consolidated financial statements included herein are as of </font><font style="font-family:inherit;font-size:10pt;">March 27, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December 27, 2015</font><font style="font-family:inherit;font-size:10pt;">, and include the </font><font style="font-family:inherit;font-size:10pt;">thirteen</font><font style="font-family:inherit;font-size:10pt;"> week periods ended </font><font style="font-family:inherit;font-size:10pt;">March 27, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">March 29, 2015</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div>
CY2016Q1	us-gaap	Nature Of Operations NatureOfOperations	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NATURE OF OPERATIONS</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BG Staffing, Inc. is a provider of temporary staffing services that operates, along with its wholly owned subsidiaries BG Staffing, LLC, B G Staff Services Inc., BG Personnel, LP and BG Finance and Accounting, Inc. (“BGFA”) (collectively, the “Company”), primarily within the United States of America in </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> industry segments: Multifamily, Professional, and Commercial.</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Multifamily segment provides front office and maintenance temporary workers to various apartment communities, in Texas and other states, via property management companies responsible for the apartment communities day to day operations.</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Professional segment provides skilled temporary workers on a nationwide basis for information technology ("IT") customer projects, and finance and accounting needs in Texas and Louisiana.</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Commercial segment provides temporary workers primarily to logistics costumers needing a flexible workforce in Illinois, Wisconsin, New Mexico, Texas, Tennessee and Mississippi.</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying unaudited consolidated financial statements have been prepared by the Company in accordance with generally accepted accounting principles in the United States (“GAAP”), pursuant to the applicable rules and regulations of the SEC. The information furnished herein reflects all adjustments (consisting only of normal recurring adjustments) that are, in the opinion of management, necessary to present a fair statement of the financial position and operating results of the Company as of and for the respective periods. However, these operating results are not necessarily indicative of the results expected for a full fiscal year or any other future period. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles have been omitted pursuant to such rules and regulations. However, management of the Company believes, to the best of their knowledge, that the disclosures herein are adequate to make the information presented not misleading. The Company has determined that there were no subsequent events that would require disclosure or adjustments to the accompanying consolidated financial statements through the date the financial statements were issued. The accompanying unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company for the fiscal year ended </font><font style="font-family:inherit;font-size:10pt;">December 27, 2015</font><font style="font-family:inherit;font-size:10pt;">, included in its Annual Report on Form 10-K.</font></div></div>
CY2016Q1	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Reclassifications</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to the </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;"> financial statements to conform with the </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;"> presentation.</font></div></div>
CY2016Q1	us-gaap	Use Of Estimates UseOfEstimates	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Management Estimates</font></div><div style="line-height:120%;text-align:justify;text-indent:66px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates affecting the financial statements include goodwill and intangible assets and earn out obligations related to acquisitions and put option valuation.</font></div></div>

Files In Submission

Name	View Source	Status
0001474903-16-000100-index-headers.html	Edgar Link	pending
0001474903-16-000100-index.html	Edgar Link	pending
0001474903-16-000100.txt	Edgar Link	pending
0001474903-16-000100-xbrl.zip	Edgar Link	pending
bgsf-20160327.xml	Edgar Link	completed
bgsf-20160327.xsd	Edgar Link	pending
bgsf-20160327_cal.xml	Edgar Link	unprocessable
bgsf-20160327_def.xml	Edgar Link	unprocessable
bgsf-20160327_lab.xml	Edgar Link	unprocessable
bgsf-20160327_pre.xml	Edgar Link	unprocessable
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
image0a15.jpg	Edgar Link	pending
q12016-10q.htm	Edgar Link	pending
q12016-ex311.htm	Edgar Link	pending
q12016-ex312.htm	Edgar Link	pending
q12016-ex321.htm	Edgar Link	pending
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report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$BGSF
BGSF, INC. Stock $bgsf

2016 Q1 Form 10-Q Financial Statement

#000147490316000100 Filed on April 28, 2016

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$BGSF BGSF, INC. Stock $bgsf

2016 Q1 Form 10-Q Financial Statement

#000147490316000100 Filed on April 28, 2016

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$BGSF
BGSF, INC. Stock $bgsf