Command Center Announces 2012 Results
Command Center, Inc. (OTCQB: CCNI) ( http://www.otcmarkets.com/stock/CCNI/quote), a national provider of on-demand and temporary staffing solutions, today announced revenue of $98.4 million for the 52-week period ended December 28, 2012, a 20.2% increase on revenue of $81.9 million for the 52-week period ended December 30, 2011.
The company reported net income in 2012 of $1.6 million, or $.03 per basic and $.02 diluted weighted average common share outstanding, as compared with net income of $.9 million, or $.02 per basic and $.01 per diluted weighted average common share outstanding in the prior year. There were 59 branch stores operating in 24 states at the end of 2012 versus 51 branch stores operating in 23 states at 2011 fiscal year end.
Todd Welstad, Chief Operating Officer, stated, “2012 was a good year for Command Center. It was the second profitable year posted by the company since it was first organized in 2002 and represented sequential year-to-year profitability growth over 2011. Our teams executed well, increasing market share both in our existing territories and by expanding into new markets including post-disaster recovery work.
“Our teams consistently met their objective to connect qualified job seekers with temporary, on-demand and permanent placements,” said Mr. Welstad. “Command continues to execute on its commitment to deliver quality employees to our customers, which allowed the company to grow gross margins from 22.8% in 2011 to 25.3% in 2012. SG&A expense in 2012 was 22.4% of revenue compared to 21.6% in 2011. The increase was the result of rebuilding infrastructure that will be necessary to continue to support the type of revenue growth that we were able to achieve in 2012. Our strengthened infrastructure positions us well for continued growth in 2013. While we invested in the Command platform, due to a focus on increased margins, we were also able to report our second consecutive year of positive bottom line growth and improved net income as a percentage of revenue to 1.6% in 2012 compared to 1.0% in 2011.”
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