XXXX our Good Thank quarter fiscal for Lasse. afternoon, conference you, third today call. for and you us earnings thank joining
our Before appreciation Tomkins. we organization, to entire Volt I’d like begin on sincere to express the today, behalf of Paul
Financial made conversations lightly Senior that position Paul Vice from and not a made as decision with between me. company several not Officer. announced ago, was weeks his we down and extensive one This As President Paul without and Chief was the stepped
X.X apparent for option Due at to was the in company heart and personal become and instrumental the Over this not his him in closer or position the go that business to has relocating Paul. played an operations recognize see corporate past that needs team. sorry role of to critical We reasons, year, commuting years California the an it the were past over Volt. accomplishments our
I personally and Volt. especially transition his transition role. thoughtful him and want of for my wish smooth guidance into in We supporting best leadership Paul future and during CFO Paul the a thank thank for to for endeavors the his ensuring dedication
add Senior Chief This development opportunity provided identify welcome to wealth team, Financial industry and finance, and an we pleased and planning relevant Herb and Vice Herb public to President Investor experienced Officer. brings analysis treasury, highly new accounting, accomplish Relations. our as to experience company, to a are and CFO our Mueller in industry of
Financial at Connection, subsidiary the recently, Herb strong, publicly NASDAQ-listed RGP, Resources Officer served company. services executive as Most traded talented Herb of as provider team consulting veteran. operating to a and ideally professional is suited industry of Chief our multinational a join
place talent. fortunate We it, top found see affirms And I way be that the are have for Volt the is Herb. to to this
his tremendous work with each as Given he skills, transformation an you part our along value acumen, integral leadership the recognize of our industry will confident opportunity have in business with brings, his I’m operational will public and company Herb stakeholders his finance, him. to the experience, play journey. closely
our my move I an remarks to today begin will of our QX financial results. performance. now Let’s with discuss overview
the we are the on key CEO, I not we Additionally, as in end highlight trends my that last supporting and will company year confirming approaching first walked of that also and are same into financial as operational I year.
Now results. to quarterly the
segment MSP basis. positive revenues approximately offset the American in American growth segment. our on Staffing X% declined North same-store Our company both by improvement third revenue North year-over-year quarter total in in slipped the a and quarter, International
to our the continues line on during compared eight segment first quarter revenue MSP by We XXX the driving quarter time from top segment for benefited And quarters, the experienced prior points focus growth. to with basis Our year. in North expanding margins positive gross International outperform. American improvement gross third margin
continued costs reduce and We improve to also efficiency. operational
administrative selling, improvements with quarter these year-on-year overall and operating costs contributed Third metrics X% key other last quarter over improvement year. in decreased profitability. third the the The compared in to
times year adjusted a loss better non-GAAP better quarter Third nearly EBITDA was was XX% net while than ago, year-on-year. X.X
with the segments. performance. Let strong now North showed on overview segment, an me start our MSP American I provide of continued each will which
Notably, representing quarter. During income the contributed year-over-year. $X.X of million, an million quarter, third to XX% $X.X of grew North group increase revenue operating the this American MSP for
recent to attributed is performed solutions payroll areas. performance well. This prior the quarters, service to strong business and the Similar key two MSP
begin implementation the quarter also will full we realize wins of benefit revenue nine into fourth the wins which these these XXXX. XXXX, in now of been six capacity mind, from and multiple allowing complex XXXX Keep does the third First, in of it in months implement programs, running to QX have at new us and to uplift. the to to take There are and recognize XXXX.
we sector. from clients. opportunities we also several Through opportunities benefited realignment of captured And team the our in and the well. the as Staffing expansion resources These of second, additional particularly of spoken defense have we expansion previous and on reorganization our expansion North segment that about existing have aerospace are have American within within calls, clients, the benefiting
another North we size Regional look in and as to space. invest many of early executive team. its former veteran additional continue us an VP in Sales, propel to industry and MSP colleague market We scope business of of high-margin then the we capture on share this also and August, American added the In
and operations both We to expansion talent, Europe to U.S. the the in segment. sales continue in this invest of will and in ongoing drive
declining see is change. attributed eight more in a I’m and our to on X% positive exchange. segment of performance, a the or culture, International pleased the basis, impact year-over-year, shift quarter quarters structure nearly increased to to revenues the in X% foreign during Growth organizational excluding Moving leadership. of same-store very quarter, than After this
and energy positive We Schultz. seeing and are Lori Batten momentum a Ben under renewed
the first Belgium outperform. close the time is and showing to QX trajectory. track to business And year-over-year continues of growth on QX UK XXXX, out a is since on for positive
business and growth. With on believe International achieve expansion, the I sustainable emphasis Staffing growth new and the renewed segment will consistent
Now on an the update let’s American turn to Staffing business. North
key XX.X% quarter, a decline third experienced the on factors. are During driving revenue segment our American basis. a North Staffing year-over-year two There of
of headcount impact rolled the from QX headwinds third into the in reduction First, forward quarter. realized unexpected
experienced own lower in caused adjustments unrelated workforce their business in two As by the quarter you industries, by we may demand. were clients second impacted of recall, whom both sizable
a manufacturer, clients, bounce had been these of did One as third back quarter large transportation not in the anticipated.
a our handful accounted so And XX% be manufacturer. second, of including percentage overall of decline. This by for our declines challenged continue small the clients, we group of particular total revenue, a or revenue transportation of in large clients, to representing
revenues the to So the specific clients the to businesses. of lower from due majority client’s were entirely issues
to say, disappointed. I’m want here is team disappointed. and My I stop
of and and We into yet the translated expanded the positive are is with new trajectories all of work aspects overall frustrating momentum our revenue not consistent have happy we hard not speed and the that realized the of growth. the wins It the across team, have business progress.
continued portfolio. third quarter need for results Our the a reaffirm to more balanced
doing top this it. are in to we The confident return and years, and for been equally know them. we team line growth as long. true that ability away that at We continue and strategies are are on tried depends I’ve chip to XX this my to executing and our
revamped details company of a of confidence. some share operational that the the ago. compared me as trends to my support Let a financial is year wholly and Volt
We winning on new these increasing business are wins. delivering not at rate, also only but new
we well. our as development in this resources consecutive teams our another manager the team in talent goals. We We fourth to additional will quarter and revenue paying sales continue again third ensure our retail for in to to quarter continue are growth, population achieve brands business the expanded sales now These quarter. yet We to investments invest add fourth and in realized off. of delivery field quarter our
population BDM gross business in bringing over industry aligned XX% is new now with Over of with XX% the standards. our margin
a in We increase growth are Team. XX% by BDM the realizing a margin performance and levels, dollars produced improved XX% revenue sequential seeing sequential gross total sharply in
the billion size of the Our Strategic within well. their existing the and identifying in now $X.X from year is ago. result pipeline exceeded double that they have pipelines revenue expand that opportunities are In subsequent quarter, than also opportunities continues in team quarters. to Solutions team the team several as more and will is had one wins This additional clients QX pursuing. in This transitions
quarter, we three in result opportunities different expansion the had will three new in locations onsite large that markets. In
and the throughout this strategically U.S. markets, to invest strong regional in to who We be additional drive also sales for we onsite where delivery placed will local wins. team consultants in continue have
also enterprise portfolio. growth. account XX enterprise team expectations team’s managed this XX% portfolio showed in Our program clients the place. by continues delivery contractual team made This their grow QX, expand In to is of up and accounts with of
within also business team new this Additionally, sold portfolio. existing their
opportunities and awarded several implemented QX. new were more locations several with we going in We multiple expansion onsite live
we new We $XX are million existing clients. logos, third in quarter, as seeing approximately growth revenue generated in with the momentum expanded increased and
grateful Third teams so outpaced years, for new and are first very The nearly two business the incredibly quarter efforts. hard was losses. working quarter in where I’m their
for we basis. lot still year-over-year X.X% over to look and to compares to same-store XXXX, Herb. do. at for total declined This important out decline work to We the period revenue revenues want company have same it have bigger ago. to that on picture our do It’s year months a I favorably a very a first turning back the recognize before step an of fiscal of nine same-store X.X% point the
multi-pronged the achieve a and standards. drive to If automate you and more approach, strategy industry reduce industry a line our standardize top profitability, standards, margins SG&A, remember, improve drive balanced was growth, portfolio
wins period revenue overall due the that improvement. from our from largely and same has that it a last Although at to clearly acknowledge top ongoing year, needs opportunities, time level remains improved the we line expansion decline
has time from revenues X.X% improved the in of has accomplished EBITDA business have to period from progress nearly by made lot improved lower negative the XX over of short in of with very a a in We pleased even a same year, have, I’m months. period XX% last the margin and however, Profitability aspects last XXXX break-even. the multiple time. we QX on
every nearly Gross quarter improved growing last year. margins XXX the last four since for basis points have quarters,
margins our industry retail North business the We across in are segment the now segment. in American Staffing MSP and seeing standard gross
reduced Year-to-date, SG&A or since have we by last XX% year. million, $XX
our We progress technological advancement effort. and notable on automation have made
closer accountability to across We have drive reduced visibility the manual centralized this eliminated organization function and processes and to deal.
from tasks California, Center Orange, and inquiries administrative payroll creating We Washington integrated candidate order our to recruiting call we team, along a and from State operation. tools branch remove moved multiple field the the have to to handle to with center Payroll engagement in that enhance
so Most we our have based Orange, drive technology welcomed and importantly, CIO improvement as Bob we’ll process to continue enhancements new across Houghton the organization. in
a are different We company.
walked revitalized are ago. We and is new same Volt. not into a a year the organization This I
are determined in to right teams the strategy. execute have place We sales and well our positioned
are a have than much winning I strongest more organization better run leaders sometime. believe of are business we we And the quite team what We industry. in is with in the overall
financial With over to Herb? that, third to would detail. quarter call in turn like review more results now Herb the to I our Mueller
