BGSF, Inc. (NYSE:BGSF) Q3 2022 Earnings Conference Call November 3, 2022 9:00 AM ET

Company Participants

Sandy Martin - IR, Three Part Advisors

Beth Garvey - Chairman, President and CEO

Dan Hollenbach - CFO

Conference Call Participants

Howard Halpern - Taglich Brothers

Brian Kinstlinger - Alliance Global Partners

Jeff Martin - ROTH Capital Partners

Bruce Geller - Geller Ventures

Mike Denham - Taxpayers

Operator

Good morning, everyone. Welcome to BGSF Inc. Third Quarter Fiscal 2022 Financial Results Conference Call. My name is Bailey, and I'll be the moderator for today's call. [Operator Instructions] As a reminder, this conference call is being recorded.

Now I will turn the call over to Sandy Martin, Three Part Advisors. Please go ahead.

Sandy Martin

Thank you, and good morning, everyone. Welcome to the BGSF third quarter 2022 earnings conference call. With me on the call today are Beth Garvey, Chair, President and Chief Executive Officer; and Dan Hollenbach, Chief Financial Officer. After our prepared remarks, there will be a Q&A session. As noted, today's call is being webcast live. A replay will be available later today and also archived on the company's Investor Relations page.

Today's discussion will include forward-looking statements, which are based on certain assumptions made by BGSF under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by the forward-looking statements because of various risks and uncertainties, including those listed in the company's filings with the SEC. Management's statements are made as of today, November 3, 2022, and the company assumes no obligation to update these statements publicly, even if new information becomes available in the future. During the call, management will also reference certain non-GAAP financial measures, which can be useful in evaluating the company's operations related to the financial condition and results. These non-GAAP measures are intended to supplement GAAP financial information and should not be considered a substitute. Reconciliations of GAAP to non-GAAP measures are provided in today's earnings press release.

I'll now turn the call over to Beth Garvey. Beth?

Beth Garvey

Thank you, Sandy, and thank you all for joining BGSF third quarter 2022 earnings call.

I am pleased to report that the momentum we experienced in the first half of 2022 continued through the third quarter. We reported record revenues for the third quarter totaling $78.5 million, up 22.3% year-over-year.

Our Professional segment accounted for 58% of consolidated revenues with notable strength primarily on the IT side with business investments continuing in cloud migration, ERP selection and implementations. We also experienced growth in our managed services and consulting areas.