Command Center, Inc. (OTCQB: CCNI), a national provider of on-demand and temporary staffing solutions, is reporting preliminary revenue for its fourth quarter and full year ended December 30, 2016.
For the fourth quarter of 2016, the company expects revenue to be approximately $25.9 million, an increase of 18.7% from $21.9 million in the same year-ago quarter. For fiscal year 2016, the company expects revenue to be approximately $93.1 million, up 5.2% from $88.5 million in 2015. The fourth quarter and the full year of 2016 benefited from an extra week when compared to 2015, which added $1.4 million of revenue to each period.
“As I indicated previously, earlier in the year we recognized the company was not performing up to our expectations and those of our shareholders,” said Command Center’s president and CEO, Bubba Sandford. “As a result, we made a number of wide-ranging and, at times, difficult changes to how we operate. These personnel and operational changes, along with the positive results from the acquisition of Hancock Staffing, allowed the company to post a strong second half for 2016. We believe our company is headed in a very positive direction and that we will continue to see revenue growth in 2017.”
This information is preliminary in nature, although the company does not expect a significant deviation from the reported numbers. The company plans to provide complete financial results for the fourth quarter and full year 2016 in March.
About Command Center
Command Center provides flexible on-demand employment solutions to businesses in the United States, primarily in the areas of light industrial, hospitality and event services. Through 63 field offices, the company provides employment annually for over 33,000 field team members working for 3,300 clients. For more information about Command Center, go to www.commandonline.com.
Important Cautions Regarding Forward-Looking Statements
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995, including statements regarding revenue for the fourth quarter and full year of 2016. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks, including, but not limited to, the severity and duration of the general economic downturn, the availability of workers’ compensation insurance coverage, the availability of capital and suitable financing for the company's activities, the ability to attract, develop and retain qualified store managers and other personnel, product and service demand and acceptance, changes in technology, the impact of competition and pricing, government regulation, and other risks set forth in the Form 10-K filed with the Securities and Exchange Commission on March 24, 2016, and in other statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Cody Slach, 949-574-3860