BGSF - Earnings call transcript Q2 2022

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Operator

Good morning, ladies and gentlemen. Thank you for attending today’s the BGSF Inc.

Second Quarter Fiscal 2022 Financial Results Conference Call. My name is (Jaquita). I will be your moderator for today’s call. muted opportunity presentation at for be call, of the will an with questions lines during portion the the end. All and answers instructions]. [Operator would to conference Three pass like Advisors. host, Part Sandy Martin, I over now to your the Sandy, please go ahead.

Sandy Martin

welcome Good remarks, on Hollenbach, second me quarter the you. will Chief Dan opening today call the Financial are earnings Thank Officer. Chair, to call. Executive President, and XXXX and conference BGSF a be Q&A Chief After and morning, there With the fiscal Beth Garvey, speakers’ Officer; session.

because the and even with these beyond publicly, X, today, those the actual from statements Securities are today's the be statements which uncertainties, new listed webcast Company to results indicated Relations As XX assumptions and Exchange including later of Act materially call future. by uncertainties include remind want from days available the XXXX, discussion in differ is the Private noted, and and August and are a update BGSF under that for All of certain no actual I harbor Management as results Reform Company page. those today's Securities of live. reports will by being A of Litigation to information forward-looking archived based Company's take by forward-looking made Commission. Investor differ statements. may assumes becomes replay on will safe The to obligation to if risks control, statements the the to made Company's the available ability provisions on the the materially now indicated various are XXXX. forward-looking of Company's risks the in moment and filings those and statements, today, you

measures, During financial Reconciliations to today's GAAP are operations. now and business management certain as the non-GAAP operating Garvey. information the evaluating a also non-GAAP substitute. related the company's provided supplement the be measures release over the turn financial in intended trends company's Beth These I'll can not to earnings on condition results to activities non-GAAP considered GAAP of and are of will Beth? posted and useful call which be to should measures in reference call, financial website.

Beth Garvey

enterprise-wide you Thank to Hello, discuss with I'll for more joining everyone, our us. and financial Sandy. I'll you, results, second and by pipeline, and turn a our provide thank of the Dan today's over quarter, for operational upgrade, the call call begin details an then technology company’s the highlights strategic to update initiatives, our around followed QX few launch M&A.

the would to, which the We labor demand segment growth focused one-year led second over are market last give on in happy a segment, business laser we environment. for year. accounting, IT, report Professional to very demand. US and market the on revenues while QX Momentum past February, an reported last We We are acquisition. strong recent results, again, client solving the overall year. us The delighted we Real and more report our includes The growing Solutionz and share confidence update to than which with regarding doubled remain to finance anniversary well-aligned our challenges stronger Estate provide also team. versus I quarter with strong way continues double-digit cycled have like in and of clients, that

to months. the two to within be positive the quarter. staffed, segment, Regarding for Estate targeted flow year for the our After new a markets end cash is And we'll goal final of opened by add Real we five four market third of this four fully markets XXXX. successfully six is

National demographic current Multifamily the need also pressing forecasting XXXX. pandemic we million According the study made investments by study construction faces the and build impacts broader states a there deficit over homes populace the additional new a multifamily support and next tailwinds X.X financial that that of to US a apartment years, Council, US The early to are to lingering National the the economy. released shifts in to and address So, profitable underbuilding. in the Housing to for significant apartments now come. due results for recent several XXX,XXX Dan? will call years on With in the this by discuss units I'll for XXXX is are the to over be markets new Apartment the our If new Association more Real company's to to Estate segment Dan said, detail. turn in

Dan Hollenbach

Thank you, Beth, and good morning, everyone.

you to of late we the quarter. in remind the Light First, I segment first completed our sale want that Industrial

our operations, result, and where financial Industrial from continuing noted, segment the results discussed year a today operating exclude are except this and last results for Light As year. for

sale please on on For the X-K refer to March transaction, additional details our XX. Form filed

momentum XX.X% to with into up second grew continued revenues Moving Estate quarter, Professional $XX.X and By from Real XX%. highlights strong operations, increased million, to to the total segment, our XX%, financial compared ’XX. continuing

better during were submittals, Q-over-Q. X% up while quarter, to wage the see and began continue they We efficiencies to rates in level out

growth Professional to addition year-over-year consulting, The Professional and double-digit impacted was revenue Estate segment accounting, XX in growth revenues services. grew Real growth In between ‘XX revenues IT finance both and XX.X%, improvement, QX sequential segment increased saw segments and strong managed QX. by over and X.X%.

for We transformation continue work enterprise products. to see solid monetization and digital demand

to in quarter, and primarily to high processes resources enhance compared look segments. both the to spread and functions. clients revenue $XX.X increased due systems our expansion increased remain in Gross for automate demand, million, XX.X% less ways manual profit by to leverage prior talent growing As to

our points XX compared ago. to favorably As million in growth. to revenue, which $X.X ’XX. and revenue basis to points leverage basis selling, XX.X% compared a XXX by costs, a to XX.X% of total SG&A general XX.X% dollars XX.X%, XX.X%, profit of percentage revenue, gross to increased Operating year improved or and compared increased administrative

compared from continuing was income net $X.X Second ago. from operations $X.XX diluted continuing share, million $X.X net share in of diluted quarter a per $X.XX per quarter income operations or to same year or the million

$X.X QX $X.X included recorded pretax QX X.X% a with million acquisition year's XXXX. million of credit consideration As million ‘XX. a Adjusted was of in for revenues, compared continued operations X.X% or income to $X.X last continuing from an revenues or reminder, from EBITDA associated of in

second tax for Our in compared year's ’XX, was QX effective rate last XX.X% to XX% quarter.

up $XXX.X was Now half for million, profit turning to million, first gross results. from while the ’XX, year-to-date XX.X%. Revenues up $XX.X were XX.X%

nice the Although was first selling, $X.X Net $X.X million or points. million months XX.X%, the operations that of leverage and they in from compared increased included share X.X% $X.XX compared diluted continuing six EBITDA dollars diluted the a A or for share, million basis prior consideration percentage general million resulted revenues per of reminder, million improved credit. a Adjusted operating of to XXX year per prior administrative of revenue. to $X.X ‘XX the or period. ‘XX the $X.XX period pre-tax revenue, of income X.X% for $XX.X first $X.X or half contingent for the totaled of

Finally, ago effective tax rate was for period. year-to-date the XX.X% the XX.X% year to ‘XX, compared in

roadmap. Turning to IT the company's investment

robust in platform roadmap our and expect significant a last business X% order spend Beth go projected updates we our the efficiency a will a assuming business, fulfillment. to platform the years. is Future moments. our and enhancements to for competitive in advantages live improvements from theory and IT three in upgrade we grow incremental The improve payback quarter, further approximately discussed provide represent will scale when modest systems, few more IT productivity launch As provide

accounts X.XX increase a year-end. days the was to company’s quarter, $X.X X.Xx of year-end. a from X.XX $XX.X InStaff to strong, funded cash trailing working Moving Net months from of strengthened the maintain our our debt, EBITDA our debt continue as six And of ratio on utilized compared and year-end, from end sheet sale we operations up the provided while to from second At is and improved ratio days pay the sales to sheet XX outstanding, DSO, was million our prudently date. of the balance our receivables balance ‘XX. financial million, to of $X.X balance liquidity proceeds million, position. or down at leverage X% position, conservative by to the June was We capital

of our our strategic quarterly per Board in $X.XX Directors XXst support consecutive initiatives. approved of the share, at dividend Finally,

efforts balance continue I will to returning to call as solid dividends provide our fund sheet shareholder value operation, to stock to and flexibility are expected as while tax ample well through to appreciation. Our position future growth, now deleverage the our back Beth. for investing turn and

Beth Garvey

you, Dan. Thank

initiative. update our with to of with roadmap the IT at company CRM strategic second and Now, applicant quarter end I'd tracking went invoicing The HRIS system. payroll of our live an enterprise-wide provide like you

are off we of Although shape. to in good interfaces, modules continue back operational tweak the

to in more platform advantages IT quarter, our will project. from last improve which spend fully we incremental us discussed business. represent robust provide grow improvements we productivity our current this much expect with competitive and enhancements scale system, and modernization Further business to As

Our to segments. in active pipeline continues be both

client on on US longer and of we challenging a labor our to sync trends, structure unprecedented us redeployment the unusual positioned set to all of apart opportunities type Wall culture to the seeing a and of although US-based, deal and global. cross-sell company potential makes us be refers from to US/ and workforce, and operational the our We is well a that of to front, solve business this Based model. allow operationally Street commitment win stakeholders. continue our in differences, approximately it in the talent, our Speed seasoned the for the economy what success multiple organizations of environment, continuing strong. XX% as education plunges best-in-class credit across continued or recent deals our in stats M&A workforce And units, performance supporting experiences many our of robust successes of a in recession and communities solution the the labor workforce work to business needs success to continues acquisitions extremely the strong around our American employment to due full field flow largely to for a a Turning force, commitment are are term us a and our to are if competition, period Journal

the our prudent will continue geopolitical Given to leadership global in approach, be pressures we of patient recessionary and potential evaluation. conservative will influences, in our be and and

evaluations call fit Operator? will as strategy questions. we allocation that, businesses to open seek long-term Our and fair for that capital our unchanged, we like we look would strategy. possible for With remains the

Operator

Halpern [Operator question line from Instructions] with the first Howard comes Brothers. Taglich Absolutely. of The

You proceed. may

Howard Halpern

the great far Congratulations. still as us, tends first third to the quarter. you quarter that is And as quarter, trend third revenue Great as half. the be intact the into quarter? note, can momentum Is continuing on strongest history And tells that see?

Beth Garvey

August of the I would are up terms about where to we optimistic of going very sit beginning what right that shape now like. the in we say at quarter's

Howard Halpern

Okay. to guess - requests, client are the orders, you the recruit client the between And talent? how seeing I the ability balance and

Beth Garvey

sides. now, and people we have on the our to we challenge the that in high well, make we robust can a job train we able still door, that so as we sure positions is actually referral working in can across get working for with up And but get that number have as consultants’ recruiting programs Well, have the people our to and then channels colleges are are we needs have. really and to both one are good clients’ programs very that redeploy that programs need for resources we we schools right being that that doing currently fitting the we

things, So, we that. of lot a of there's the the that are seeing those some fruits focus of out and come around of been labor

building on in So, that. the phase a lot

talent make tomorrow's is mentioned tomorrow. for up I've and tomorrow. the of really Today's we're in sure think them got that are kind workforce, youth for training before, how upscaling to focusing we I to we've on and people build

Howard Halpern

multifamily too, and for find Okay. have to you're a that talent enough to segment? them demand, growing the to And meet in able terms redeploy demand of the

Beth Garvey

able haven't In ago. than is fill. both That segments, quarter Howard, less was been number that a we it what positions have to open we always

always both we segments. but we orders open optimistic feel So, that, in have about

Howard Halpern

with I finding - additional doing? revenue streams. And finding what context you press Okay. you're have additional you operations talked revenue the example that in you mean of about, Do within describe an could guess, you streams on the release, additional what

Beth Garvey

the types We emerging a different are municipality gates. the looking we're for technology in coming of Well, different out things that's right technology, - now. of look within doing for we space lot always

building kind our on it So, parts team and is that we different really municipalities the making country. that, white writing of of are sure and papers different to presenting

charge they different talent have have, to allow able the that some to at segment comes help looking with for talents is enhanced some upskilling division them. that that has they the in them train things that skillsets Estate with Real Our more to which we been of

Real to never and out that. around year. of ended not looking looking but this conference to start to different group to know So, the That the and down technologies of coming Association I a up-and-coming things just Diego a of waiting are that and segment, group are happened happen. past before, our the avenues Apartment in was identified we lot to of and I Estate opportunities those things for conferences things forward, teams San National for companies has look that what mean, is, with able platform instead Professional up in go within the build may Professional took sit we that many to try currently happen. for

Howard Halpern

And or good. any lastly, That move the into update Okay. sounds on Canada? just entrance

Beth Garvey

in opening be be end August, with of this We're sometime - will by of hoping you. before the honest the Howard, Canada We end quarter. to

Howard Halpern

That just Okay. and good good, keep guys. sounds work, the up

Operator

Thank line of Martin you. next ROTH. the on The with Jeff comes question

You proceed. may

Jeff Martin

Thanks. Beth, you well. could doing and Dan. Hope you're Good morning, Beth, …

Dan Hollenbach

Doing hot. good, but

Jeff Martin

you peak in of hot places. back where levels the it's segment. mean, Was on to basically detail the Real could in lot is go for into some I curious Estate we’re if it Yes, context now. a of

existing markets? is the If room would imagine fairly of or - markets Yes. opening QX coming but think more versus kind think you segment. year-over-year. more XXXX, back for within just sense us I much scalable, existing up curious you if a where from growth it the of look new could growth that markets? easily that's was I give do go Was you to was Thanks. new locations was there it for How peak

Beth Garvey

rope in I but open. markets how US, can in that new stuff, we've to been kind talked end the of on market it's that we're many the the new about the Historically, think past getting of we

one with of the we’re markets the to segment the we're be new exciting going However, to things is technology able that how in.

be there track one So, we instead three of better. and salespeople Houston, a be salesperson actually to lot there, we will - have to we take being for could example, there, activity and able will able

we So, to expand there. we allowing have those now resources in start that come growth we are like markets cases, opened, put to will to the growth feel existing additional in from that the

Jeff Martin

Okay, the IT of the is the which Professional imagine feel fastest, strongest. which Maybe then growth could the would great. side, on And you among I have potential going segregate kind most forward. growing areas are you

Beth Garvey

think talked we Solutionz solutions I earlier. of bought we've managed that that about Momentum success the the

So, of that really now. conversations all our leads

infrastructure. the our plan. everybody think level in out underneath a to put solutions So, build being to really project good a supports they can program, We to able IT us we say, the we it job do continue to manage a put I in And managed consultants can that. up as

kind Solutionz situations, it one Momentum gain. rise of it's of and starts of with kind boats the So, those all

Jeff Martin

on and live technology It’s a Well, QX. up running your congratulations getting platform deal. in big Great.

what getting you're are they Would curious they or Thanks. be helpful. excited? Are Are people of more Just feeling kind internally. reaction relieved productive?

Beth Garvey

Well, it's weeks. only five been

so, there's live. to get a did we go ready to in of And management - lot regards work change to

what to a So, knew people expect going of forward. lot

XXX in of everybody to told sprints going think seeing two-week just we pay us able expect we We start with part needed to allows we’ll do. get that efficiencies be I year. get to next of to be efficiencies invoice. yet. most was reminder, minimal and start kind to to an that in after we viable a product. and of the to We The would like We in, - it. there's a really QX what situated. that fast-follow build bill out That we that seeing we layering projects efficiencies in that able as all aren't continue something And of be come important - wanted And

Jeff Martin

was to any but come the maybe starting XX you're change availability on comment maybe then I past year workforce have final sitting ago, a you people months. I imagine see if had the question. the that. into And been the still curious back labor noticed that would on Okay. in over sidelines

Beth Garvey

of employees yet inflation Jeff, and whole back going a forward. is, shift that employer of There wants it some out doubling group wanting now of the that into to such a hasn't in the that regards of now part with but that, on come what are down a group gas the don't, the is that There's leveled are the the employers employee people there's what that wants. they price There's fact to of especially and whole office.

continue that to and make and educate a - we people So, I mean, talk to dance. sure it's

taking to We that make both of sides. care have we’re sure

there So, but that there that off we that of as sure in talent future think challenges is in I match works the looks people, think in and of people, regards making continue needs that the how forward. that are I up And going more to, regards. based work everybody's like those are more right of to understanding I leveled we against come to what think out completely don't

Jeff Martin

sharing. for Thanks Great.

Operator

next The of with Global comes the Kinstlinger Alliance you. question Partners. line Brian from Thank

proceed. may You

Brian Kinstlinger

margins guys, the might development? was over my the long-term question you generated finally, My the is what efficiencies margin this for And the business impact impact and all help on questions. systems And first on is, on implemented? with last the system? new taking your based new the how or in two this Thanks, on Great. near from what quarter based the on new profile system,

Dan Hollenbach

sure weeks impact. five live ago, know went just we part not first, right? quite margin the the on we So, So,

an just of my certainly a well, mentioned, latter we're as But - call, into year we're Beth we'll of optimistic and next probably just X% of those of using mentioned estimate I efficiency. seeing start of sort As part this in sort year. QX

answer of part it. last let I'll Beth So, the

Beth Garvey

regards them it to out to business the rid does allows find development, noise getting of the In and a Yes. to trying between Brian, it what is, customer to us really get faster. candidate

Before, would the were Bullhorn. multiple to then We had boards. we We Erecruit. had having through We have go would we to go - job have - you systems. to

LinkedIn. have You

have You Dice.

So, to go places multiple find the to having team was stuff. to

able that One of of into to is to be all and tool fast follows one. a the dump take we going it have that's data

- when they'll recruiters able be it. when person need to So, a our grab somebody, needs

thing second sales, able to to The there. our it - the if recruiting right things is, sales it problem, be get team but is recruiting because does right? can We allows faster, team is now, a recruiting move

recruiting It move the be the So, team faster team faster. to ability sales market. can go the to to the more gives able

a We have candidate. better

this able We to the tool to get have be through us door.

side it's people to the that the of systems place, together, marriage kind be. comes a the reduce in through knowing you So, of of think actually does of amount And that what that their amounts as to steps we in really aisle for on I data jobs. works move those and need it getting do

Brian Kinstlinger

Great. at away. to of marginally cost go some cost that's depressed, take what implementation? it, it question But you the I party that's had That's related and do of just it to Did looking trailing, - part this margins were or the the a first did yourself? going understand you was third you have to I'm insightful. trying sort of - do

Dan Hollenbach

had the implement a replaced had Brian, project, piece on of million started that - software partners we so between $XX.X million we - we probably total every essentially we $XX we a to around the of us all $XX to this closer which a were helping budget company. ago, in We're million. initial using multiple this three So, years of with

part primarily we third-party latter the enhance products, - year, we Beth to on some have this but still professional So, add-ons we to level spent of year. continue as this not mentioned, We'll to come spend money that on to fees. the

‘XX and in into We that. will some see QX efficiencies beginning on

Beth Garvey

dropped So, the had last We partners Brian, week. we off outside we started several consulting reducing that already that had.

have that'll drop group We this another off week.

to six use one resources. next that weeks, being the and the in where to it and may two then, well, where any of done goal depending having future to get already is, do have we goal the on staff. down we to actually not - to can our are to to, outside We use primarily is get already now goal what and reduce, but is on every with team is have Our our addon our and builds we've internally internal started our

Brian Kinstlinger

Great. behavior. to seeing in I a see have beginning requests? mentioned fewer you you client for what in is, Are position Last change period. there's recessionary company's just of potential professional I'm staffing you're terms the if curious any question

Beth Garvey

do person before. past Our things strong. the faster pipeline this continues to contracts one added we a we is to be our we And very, push able very actually contracts who's were than quarter of that did

So, the to close to you teams, the talk faster. ability if still that gives them

we've things the in So, many, pipeline. many got

the a things a to not the are seeing bit We just going out little somebody, there, to, on in somewhere slowdown candidate, but moves still on. There's all And down a of segment. a world a is a candidate's client the on put a trigger making down making not them decision of pull the somebody's either significant. decision process slows candidate else. slow it's if at in since We regards on maybe side if it is, that in can flip

they're You and if going down, lose that education. to move be think - continues flowthrough an to have clients fast. slowed think And to I I clients out,

Brian Kinstlinger

Great. Thanks, guys.

Operator

from Thank the Taglich Michael you. comes The of line final Taglich Brothers. with question

You may proceed.

Michael Taglich

morning, Dan. quarter. Congratulations. Beth. morning, Good Good Good

of bunch here. Okay. A questions

Okay.

program, all first, So, million the if as it. the so bucks you name whose right, me into on escapes XX platform, tech you're a moment will, at

in of years financials it If you’ve a I start next QX the three in so, three-year seeing hear year. we that started got correctly, three? ago. You payback is

Dan Hollenbach

sir. Yes,

Michael Taglich

correct. that's Is that -

Okay.

three So, - if years from around. so throwing was I

Dan Hollenbach

Around ‘XX, ‘XX.

Michael Taglich

$X adding in if you a million start will? should quarter It EBITDA,

Dan Hollenbach

How much?

Michael Taglich

years, three-year payback. year, There's four quarter. million $X in three quarters a a

Dan Hollenbach

Your is math good.

Michael Taglich

next But a when start in if very was doesn't was year. good I hear correctly, so. I I until child, it math

Dan Hollenbach

Correct.

Michael Taglich

good. Okay,

right. All take Okay. that in mind. I'll

Okay. the six Other assets doubled in months. last

speak to that? want You to

Dan Hollenbach

Hold yes. Oh, Other second. a on assets.

was So, that InStaff. sale deferred includes of a so. million for year, the receivable $X related to the

Michael Taglich

the it’s so, X rest And that's million. of -

Dan Hollenbach

you Are or? assets current talking other the

Michael Taglich

Yes.

Dan Hollenbach

X.X and at December. Other it's current June in assets X.X rose -

that. So, X million of

that The but is of XXX,XXX, receivable I know I million other $X Michael. detail, it InStaff, the pull don't to on that, have so.

Michael Taglich

Okay.

have receivable that. a We $X million on

We have …

Dan Hollenbach

That's most of the increase, yes. so,

Michael Taglich

Right.

Well, Okay. up million, million. was total in other from $XX.X $X.X

So, InStaff, $X of receivable. is million that million $XX right,

that'll So, go that'll … into - against go

Dan Hollenbach

and I'm looking the the You're at at looking earning release? summary Yes, the actual balance sheet.

Michael Taglich

I’ve I'm Yes. of in got That's all front me. sorry.

Dan Hollenbach

Yes. million, deposits are Deferred and of $X Other actually Prepaids flat. million. assets $X came are $X are are up taxes down down million. $XXX,XXX, use million. right are down receivables $X down

So, but provide an I Michael, analysis, can you …

Michael Taglich

offline talk that. can We on

Okay.

Dan Hollenbach

Yes.

Beth Garvey

Get it.

Michael Taglich

All A more couple right. questions. Okay.

Just understand, hit offices, the if offices? you will, in Real so an take did of the from we much I the expense new Estate how quarter,

Beth Garvey

in a we it's consists market keep office, mind, a Well, in of because Real don't person. market, Estate, it and a an call

do a that hire go sales person market. to in we So,

we half to So, out. worst case scenario, and a a have it's starts person because have that recruiter a

they're Probably everybody a - quarter to everybody going what to you're I then I'm say me want to make I in pay don't - So, what? going tell because

Michael Taglich

that's about the wondering Well, … fine. That's just fine. Okay. I'm

Beth Garvey

So, and person a it's a Mike. half,

Michael Taglich

Okay.

we're talking going then States next United of my spend bit be - is, question with would the offices if little So, months. in about time to of done within America you XX a

How if talk accretive. about will. - probably opportunity heard, more by much offices, that? And the are from you the what there, per if about office see need do payoff will? I investments which in to you on growth you people then is Okay. be talk want or adding I'm one to your you person made, what to is, we five, and you and go what what thoughts Should summarizing

Beth Garvey

completely And know don't it of system. get exactly don’t we what is part on out answer that we're is, I understand the to the the of we what going efficiencies know that.

right a now, of person sales person example, recruiting. a does who market and that does a For consists

out need be half-a-person system, in that new a a open we and answered one only and sales efficiencies of I'm minute to when three half and I that go person add right? a those get So, would to you people. market, three half I'm a assumption ago, Houston, making So, a the a people if the going support recruiters I to sales through a it

in to what trying and we’re that produced. does now. - ability each able have Professional the what Real but Estate, old to really of it, the in system Real out not to build to we that say So, in we go be in we say, right ability able had part be to did have is, didn't the And person in Estate,

as out be the going changing get understand new new that So, we'll in person able system, forward. as what then, revenue and know each produces. are would to to potential to we be what what build going well the able the to be the be model And efficiencies we in that,

Michael Taglich

M&A. Okay. Last question,

are BGSF’s best at EBITDA pretty And your - a look got current and also at accretive of should quality the and seeing be if to no, this quarter rating EBITDA, of qualifying or you, the conservative that best you ahead just coming estimate, of okay. multiples you've M&A the Your - Are the Xx I year, business? what up coming okay. you that with what half ahead

Beth Garvey

Multiples over board. are all the

Dan Hollenbach

Yes. XX range, We've were range, in bit multiples that so. the multiples primarily XX to which and seen looking on the to seven - declined a We half-ish IT focused, reasonable few seen we've been the is world, in eight in - maybe a a so range. we've where eight-ish

Michael Taglich

Okay.

do So, are I thoughts so about our what guess, - feel everybody with your you multiple else's? versus

Dan Hollenbach

believe the And sale, than multiples so. companies less the for is overall that turn that industry of Well, for a industry. two we that down. the are the pardon I expression, believe believe are crazy, I are or the multiple I some

Michael Taglich

looking half. second quarter. Thanks. All Great right. right. a strong I'm That's got. I've forward Well, okay. all to All

Operator

I over you. now the pass to back would closing like conference Thank for to Beth remarks.

Beth Garvey

day. Thank few in you, forward a on and our your updating quarter everyone, we support. third great We time look for you months. a continued appreciate results today, to your Have

Operator

the Inc. conference for second BGSF concludes call. fiscal financial Thank your That participation. results you XXXX quarter

may line. now disconnect your You

BGSF (BGSF) 7 Aug 222022 Q2 Earnings call transcript