NEW YORK, March 20, 2014 (GLOBE NEWSWIRE) -- The Staffing Group, Ltd, (OTCBB:TSGL) announces its subsidiary, EmployUS, Ltd., has increased revenue during the first two months of 2014, compared to the same time period in 2013 by more than $2 million.
"When we decided that EmployUS would be the first acquisition for The Staffing Group, it was because of its existing revenue stream and proven track record," said Brian McLoone, CEO of The Staffing Group, Ltd. "EmployUS had already experienced growth prior to the acquisition and continues to increase its revenue significantly enabling The Staffing Group to enter the marketplace in a better than anticipated position, and is an encouraging start to the year."
During 2013, The Staffing Group's subsidiary, EmployUS expanded its operations by three new office locations. With a direct comparison year over year, the company increased its revenues by nearly $1M (Revenues for January 1- March 1, 2013: were $1,334,129 compared to January 1-March 1, 2014, which were $2,350,678). The three additional locations earned The Staffing Group more than $1.12M in additional revenues during the first two months of 2014.
"The Staffing Group is dedicated to ensuring that it continues to demonstrate shareholder value through strategic acquisitions of revenue-generating targets," continued Mr. McLoone. "EmployUS has demonstrated successful execution of that strategy, and we look forward to continuing to deliver on that promise."
About The Staffing Group, Ltd.
The Staffing Group, Ltd. is a publicly held Nevada corporation. Its primary holding, EmployUS, is a full service turnkey staffing company initially established to respond to the relief and recovery of the major oil spill in the Gulf of Mexico. EmployUS has since expanded to work on most major construction, chemical, and maritime projects in the Southeast United States.
EmployUS' services include:
- Payroll related taxes
- Workers' compensation coverage
- General liability insurance
- Professional risk management team
- 24/7 availability of office staff
- Safety equipment & training programs
- Drug & alcohol screenings
- Background checks/MVR reports
- Temporary to permanent workers
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov.