Command Center reports Q3 EPS 11c vs. 17c last year
Reports Q3 revenue $26.3M vs. $26.7M last year. The company said, "Command Center delivered another solidly profitable quarter and returned a record level of capital to shareholders in the form of repurchased and retired shares. In the third quarter we also continued our efforts to stabilize and strengthen our staffing platform. This will remain our focus into 2019 and includes comprehensive changes to our hiring, training, compensation, and benefits practices necessary to support future revenue growth and enhance profitability. While these efforts contributed to some margin compression, tight labor markets continue to present opportunities for staffing firms, and we're positioning Command Center to optimize our performance across the country and across all verticals. In conjunction with the low unemployment rate, we're also experiencing increased competition and higher wages for quality temporary workers in some markets. This also contributes to higher recruiting and on-boarding costs. We're addressing these challenges, and I'm encouraged by our progress in revitalizing the organization. We've raised the bar for branch-level leadership, many of whom are new to the company, and we've set clear expectations for their performance. Given our historical trends and the present business environment, we anticipate periodic revenue and gross profit fluctuations, but our geographic and customer diversity, along with a tightly controlled operating structure, are continuing to drive relatively consistent profitability," concluded Mr. Coleman. "Our solid balance sheet positions us to pursue growth opportunities and capital deployment in tandem, and during this rebuilding period, our Board of Directors is actively evaluating a range of strategic alternatives to enhance shareholder value."