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HIREQUEST INC . HireQuest Reports Financial Results for the Second Quarter 2021 Q2 2021 EPS of $ 0.20 per Diluted Share , Net Income of $ 2.7 million , and Adjusted EBITDA of $ 4.4 million Exhibit 99.1 - GOOSE CREEK , South Carolina August 9 , 2021 - HireQuest , Inc. ( Nasdaq : HQI ) , a national franchisor of on - demand , temporary , and commercial staffing services , today reported financial results for the second quarter ended June 30 , 2021 . Second Quarter 2021 Summary • Franchise royalties of $ 5.5 million compared to $ 2.6 million in the prior year period , an increase of 106.5 % . The branches acquired from LINK and Snelling in the first quarter of 2021 comprised approximately $ 1.7 million of the revenue . • • • • • • Services revenue , including interest paid on aging accounts receivable , of $ 256,000 compared to $ 262,000 in the prior year period , a decrease of 2.3 % . Total revenue of $ 5.7 million compared to $ 2.9 million in the prior year period , an increase of 96.7 % . Net Income , inclusive of miscellaneous income and acquisition - related expenses was $ 2.7 million , or $ 0.20 per diluted share , compared to net income of $ 1.2 million , or $ 0.09 per share last year . Adjusted EBITDA of $ 4.4 million compared to $ 1.8 million in the prior year period . HireQuest launched DriverQuest , a franchise offering focused on providing staffing services to the transportation and logistics industries . DriverQuest is a natural extension to the company's existing on - demand and commercial staffing offerings providing another avenue of growth for existing and new franchisees . To date over 35 existing franchisees have adopted the offering . HireQuest closed a $ 63.2 million credit facility comprised of a $ 60.0 million Revolving Credit Facility and a $ 3.2 million Term Loan with its existing lender , Truist ( formerly BB & T ) . The new facility replaced the Company's prior $ 30 million revolving credit facility . Subsequent to Quarter End • Board of Directors declared a quarterly cash dividend of $ 0.06 per share of common stock to be paid on September 15 , 2021 to shareholders of record as of September 1 , 2021 . System - wide sales ( a key performance indicator ) for the second quarter of 2021 were $ 88.7 million compared to $ 44.1 million for the same period in 2020. The increase was due to recovering organic sales from our HireQuest Direct and HireQuest franchisees as well as new sales from the acquired Snelling and Link franchisees . Organic system - wide sales , excluding the acquired Snelling and Link locations , increased 29.5 % in the period over the comparable period in 2020 . " Our results this past quarter begin to demonstrate the magnitude of the operating leverage our franchisor structure can generate , ” commented Rick Hermanns , HireQuest's President and Chief Executive Officer . " This is the result of a combination of rebounding performance by our HireQuest Direct and HireQuest franchisees and the addition of our new Snelling and Link franchisees . Our franchisees have done a tremendous job adapting and executing in an incredibly difficult economic environment over the past 12 to 18 months , but they still have a little room to reach their Q2 2019 , pre - pandemic , levels . As the economy around the country continues to strengthen with state and local governments easing and ending pandemic - related restrictions and subsidies , our franchisees should benefit . "