BGSF, Inc. (NYSE:BGSF) Q4 2023 Earnings Conference Call March 14, 2024 9:00 AM ET

Company Participants

Sandra Martin - IR, Three Part Advisors

Beth Garvey - Chair, President, & CEO

John Barnett - CFO

Conference Call Participants

Jeff Martin - Roth MKM

Howard Halpern - Taglich Brothers

Bill Donohue - Teton Capital

Brian Kinstlinger - Alliance Global Partners

Michael Taglich - Taglich Brothers

Operator

Good morning, everyone. Welcome to the BGSF Inc. Fiscal 2023 Fourth Quarter and Full Year Financial Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions] As a reminder, this conference call is being recorded.

Now I'd like to turn the call over to Sandy Martin, Three Part Advisors. Ma'am, please go ahead.

Sandra Martin

Thank you. Good morning, and welcome to the BGSF 2023 Fourth Quarter and Full Year Earnings Conference Call. With me on the call today are Beth Garvey, Chair, President and Chief Executive Officer; and John Barnett, 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 archived on the company's Investor Relations page at investor.bgsf.com.

Today's discussions will include forward-looking statements, which are based on certain assumptions made by the company 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 Securities and Exchange Commission.

Management statements are made as of today, 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 as a substitute. GAAP and non-GAAP measures are reconciled in today's earnings press release.

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

Beth Garvey

Thank you, Sandy, and greetings to everyone on today's call. Fiscal 2023 marked a pivotal year for BGSF characterized by significant achievements and the successful execution of our strategic and transformative plans. We are pleased to report over $20 million in operating cash flow, accompanied by a nearly 5% increase in revenues to $313 million. It's worth noting that fourth quarter of 2022 included an extra week of operations due to a calendar shift.