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Q2 2021 Overview 360 SOLUTIONS Six Month 2021 Overview STAFFING 360 Staffing 360 Solutions Reports Second Quarter and Six - Month 2021 Results NEW YORK , Aug. 16 , 2021 - Staffing 360 Solutions , Inc. ( NASDAQ : STAF ) , a company executing an international buy - integrate - build strategy through the acquisition of staffing organizations in the United States and the United Kingdom , today announced its Fiscal 2021 second quarter and six - month financial results . Return to Net Income Positive Revenue increased 16.5 % to $ 50.5 million from $ 43.4 million in Q2 '20 ( 22.9 % increase excluding the disposal of firstPRO ) Gross profit increased 19.4 % to $ 9.0 million from $ 7.6 million in Q2 '20 ( 36.8 % increase excluding the disposed business ) Loss from operations narrowed to ( $ 1.1 million ) as compared with a loss from operations of ( $ 1.5 million ) in Q2 '20 - a result of strong execution in all of our businesses benefitting from gradual strengthening in our underlying markets Net income of $ 7.8 million realized as compared with a net loss of ( $ 3.8 million ) in Q2 '20 EBITDA grew to $ 9.7 million from ( $ 0.8 ) million in Q2 '20 Adjusted EBITDA increased to $ 1.4 million from ( $ 0.5 ) million in Q2 '20 Basic EPS was $ 0.75 up from a loss of $ ( 3.55 ) in the same period last year Conference Call Access Exhibit 99.1 Revenue decreased 2.5 % to $ 99.5 million from $ 102.1 million in Q2 '20 ( 3.3 % increase excluding the disposal of firstPRO ) Gross profit decreased 6.4 % to $ 17.0 million from $ 18.2 million in Q2 '20 ( 10.3 % increase excluding the disposed business ) Loss from operations narrowed to ( $ 1.8 million ) as compared with a loss from operations of ( $ 5.5 million ) in Q2 '20 - a result of continuing market improvements and performance by the company Net income of $ 6.2 million realized as compared with a net loss of ( $ 10.8 million ) in Q2 '20 EBITDA grew to $ 10.0 million from ( $ 4.8 million ) in Q2 '20 Adjusted EBITDA increased to $ 2.5 million from ( $ 1.7 million ) in Q2 '20 Basic EPS was $ 0.60 up from a loss of $ ( 8.83 ) in the same period last year Brendan Flood , Chairman , CEO and President , said , “ I am pleased with the solid progress and improved results achieved in the second quarter . The outlook in our brands and our verticals remains strong and business is steadily improving . We are closing not only more business , but often increasingly larger contracts for temporary placement . " We remain vigilant and cautiously optimistic as we continue to progress through the COVID - 19 environment . We expect improved revenue and gross profit in Q3 fueled by the pent - up demand we are experiencing . Our balance sheet is greatly improved having received full forgiveness of our $ 19.4 million in PPP loans , completing financings and reducing our debt and redeemable preference shares by $ 58.8 million to $ 13.5 million from $ 72.3 million from June 2020. I look forward to a strong second half of the year , " concluded Flood . The Participant Dial - In Number for the conference call remains 323-794-2423 . Participants should dial in to the call at least five minutes before 9:00 am ET August 17 , 2021. The call can also be accessed " live " online at http://public.viavid.com/index.php?id=145866 . A replay of the recorded call will be available for 90 days on the Company's website ( http://www.staffing360solutions.com/res.html ) . You can also listen to a replay of the call by dialing 844-512-2921 ( international participants dial 412-317-6671 ) starting August 17 , 2021 , at 12:00 pm ET through August 20 , 2021 at 11:59 pm ET . Please use PIN Number 8035151 . -Continued