BG Staffing Set to Join Russell 3000® Index
Jun 14, 2017
PLANO, Texas, June 14, 2017 /PRNewswire/ -- BG Staffing, Inc. (NYSE MKT: BGSF), a rapidly growing national provider of professional temporary staffing services, today announced that the Company is set to join the broad-market Russell 3000® Index at the conclusion of the Russell indexes annual reconstitution, effective after the US market opens on June 26, according to a preliminary list of additions posted June 9th.
L. Allen Baker, Jr., Chief Executive Officer, said, "I am proud to announce our preliminary inclusion in the Russell 3000® Index as it underscores our continued commitment to build shareholder value. From revenues of $35 million in 2009 we have grown to $254 million in 2016. We believe inclusion in the Index is a benefit to both our Company and shareholders. It should increase the Company's visibility and further broaden our shareholder base."
About FTSE Russell
FTSE Russell is a leading global index provider creating and managing a wide range of indexes, data and analytic solutions to meet client needs across asset classes, style and strategies. Covering 98% of the investable market, FTSE Russell indexes offer a true picture of global markets, combined with the specialist knowledge gained from developing local benchmarks around the world. For more information, visit www.ftserussell.com.
The annual Russell indexes reconstitution captures the 4,000 largest US stocks as of the end of May, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in either the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
About BG Staffing, Inc.
Headquartered in Plano, Texas, BG Staffing provides staffing services to a variety of industries through its various divisions. BG Staffing is primarily a professional temporary staffing platform that has integrated several regional and national brands and is set to achieve scalable growth. The Company was ranked 56th among the top 100 U.S. staffing companies and was named the 71st fastest growing staffing company in the country in 2016 by Staffing Industry Analysts. The Company's acquisition philosophy is one that not only brings financial growth, but retention of unique and dedicated talent within the companies. This has resulted in a strong management team, with tenure and a desire to offer exceptional service to candidates, customers and investors. For more information on the Company and its services, please visit its website at www.bgstaffing.com.
The forward-looking statements in this press release are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The Company's actual results could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties including those listed in Item 1A of the Company's Annual Report on Form 10-K and in the Company's other filings and reports with the Securities and Exchange Commission. All of the risks and uncertainties are beyond the ability of the Company to control, and in many cases, the Company cannot predict the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this press release, the words "believes," "plans," "expects," "will," "intends," and "anticipates" and similar expressions as they relate to the Company or its management are intended to identify forward-looking statements. Except as required by law, the Company is not obligated to publicly release any revisions to these forward-looking statements to reflect the events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.
Terri MacInnis, VP of Investor Relations
Bibicoff + MacInnis, Inc.
SOURCE BG Staffing, Inc.