|By Marketwired .||
|August 15, 2014 06:27 PM EDT||
NEW YORK, NY -- (Marketwired) -- 08/15/14 -- Staffing 360 Solutions, Inc. (OTCQB: STAF), a public company executing a global consolidation strategy through the acquisition of domestic and international staffing organizations with operations in the US and Europe, today announced the release of an in-depth initiation report by Patrick Murphy, CFA, principal of fee-based independent research firm Murphy Analytics.
In his report, Mr. Murphy discusses Staffing 360 Solutions, its global consolidation strategy in the highly fragmented staffing industry, and initiates fee-based coverage with a 12-month price target of $5.00 per share.
"Staffing 360 Solutions is addressing the increasing demand for temporary staffing services in the United States and around the world," said Alfonso J. Cervantes, Vice Chairman and President of Staffing 360 Solutions. "While this report is fee-based, we believe it accurately reflects and quantifies our company's progress to date, including our highly targeted acquisition strategy, which has allowed us to grow from negligible revenues to over $120 million in revenues on an annualized basis. We are continuing to pursue opportunities in the $400 billion global staffing market, and believe that our buy-and-build strategy is ideally suited for this fragmented industry."
From the report, Mr. Murphy states, "The Company believes the staffing industry offers opportunities to create a successful public company with a longer term objective of accretive acquisitions that will drive annual revenues to $300 million."
The report details the sizable growth opportunities within the higher margin professional staffing sectors that are of particular interest to Staffing 360 Solutions, such as the finance and accounting, administrative, engineering, IT and cybersecurity industries. Not only do these industries produce average margins in the 15 to 30% range, they are also highly fragmented, with over 15,000 staffing companies with under $20 million in revenues in the United States alone. According to the report, outside of the top 10 staffing firms globally, no other company has greater than 1% market share.
Mr. Murphy goes on to say, "Staffing 360 Solutions has assembled a first-class management team to execute a proven acquisition strategy in a highly fragmented, large, and growing market opportunity. Not only have other publicly traded companies proven that this model works, but STAF executives have executed the strategy previously and are now proving it with STAF, which has grown from concept to over $100 million in annualized revenue in just a few quarters."
The complete report is available in Acrobat format, free of charge:
About Staffing 360 Solutions, Inc.
Staffing 360 Solutions, Inc. (OTCQB: STAF) is a public company in the staffing sector engaged in the execution of a global consolidation strategy through the acquisition of domestic and international staffing organizations with operations in the US and Europe. As part of its targeted consolidation model, Staffing 360 Solutions is pursuing broad spectrum staffing companies in the finance and accounting, administrative, engineering, IT and cybersecurity industries. The Company believes the staffing industry offers opportunities to create a successful public company with a longer term objective of accretive acquisitions that will drive annual revenues to $300 million. For more information, please visit: www.staffing360solutions.com
Information Regarding the Murphy Analytics Report
Securities and Exchange Commission ("SEC") Section 17(b) Disclosure: Murphy Analytics has been paid $7,500 by Staffing 360 Solutions, Inc. in connection with the preparation of the report. Although the Murphy Analytics report described herein was commissioned and paid for by Staffing 360 Solutions, the company notes that the report was generated independently by Mr. Murphy, and statements by Mr. Murphy are his own and not attributable to Staffing 360 Solutions. Readers are advised to review the report in its entirety, including the disclosures and disclaimers noted therein.
Certain matters discussed within this press release are forward-looking statements including, but not limited to, new agreements, the ability to enter into any additional acquisitions, or the size of future revenue. Although Staffing 360 Solutions, Inc. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Staffing 360 Solutions does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks detailed from time to time in Staffing 360 Solutions' reports filed with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K.
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