BGSF, Inc.

Good morning, everyone, and welcome to the BGSF Inc. Fourth Quarter and Fiscal Year 2021 Financial Results Conference Call. As a reminder, this conference call is being recorded. If you would like to ask a question during the presentation, you may do so by pressing a star followed by one on your telephone keypad. Now, I will turn the call over to Hala El-Bersini, Investor Relations, to provide instructions, introductions, and read the safe harbor statement. Please, Hala, go ahead.

Thank you, and welcome to the BGSF Fourth Quarter and Fiscal Year 2021 Earnings Results Conference Call. With me today are Beth Garvey, President and CEO, and Dan Hollenbach, Chief Financial Officer. After the speaker's opening remarks, there will be a Q&A session. As noted, today's call is being recorded and webcast live. A replay will be available later today and archived for 90 days on the company's investor relations page. Now for the safe harbor statement. I want to take a moment to remind you today that today's discussion will include four looking statements which are based on certain assumptions made by BGSF based on and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The company's actual results may differ materially from those indicated by the forward-looking statement because of various risks and uncertainties, including those listed in item 1A of the company's annual report on Form 10-K, the quarterly reports on Form 10-Q, and in other company filings and reports with the Securities and Exchange Commission. All risks and uncertainties are beyond the ability of the company to control And in many cases, the company cannot predict the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. These forward-looking statements are made as of the date and time of this call, and BGSF 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 management believes can be useful in evaluating the company's operating activity and business trends related to the financial condition and results of operations. These non-GAAP measures are intended to supplement GAAP financial information and should not be considered in isolation as a substitute for or superior to financial measures calculated in accordance with GAAP. Reconciliations of non-GAAP measures to the most directly comparable GAAP measures are provided in today's earnings release posted on the company's website. I'll now turn the call over to President and CEO, Beth Garvey. Beth?

Thank you, Hala. And thank you to everyone for joining today's call to discuss our fourth quarter results and another eventful year. Before we begin our regular review of operational and segment performance, I'd like to highlight the announcement we made last Tuesday regarding the strategic sale of our light industrial segments. which is expected to close later this month. We disclosed the purchase price of $32.3 million, which represents 7.5 times adjusted EBITDA multiple in the Form 8K filed on March 2nd. From a strategic rationale perspective, when the company was founded in 2007, our revenues were 100% light industrial. As we evolved and strategically diversified into professional and real estate sectors, In-Staff continued to develop long-term client relationships, creating deep on-site engagements in logistics and warehousing, and maintained high client retention. Having completed several strategic initiatives over the past two years to support our overall platform for future growth, the sale aligns perfectly with our core strategy to focus on higher margin opportunities. With the divestiture, we can fully turn our attention to professional high-end IT consulting higher project-based opportunities, and managed services in addition to our niche position in real estate. We are pleased with our fourth quarter results, which reflect a strong finish to a year that began with considerable uncertainty. Our ability to quickly and effectively address industry and macro headwinds and to execute internal realignment and restructuring initiatives enabled us to report progressive improvement throughout 2021. Additionally, our timely and strategic acquisition of Momentum Solutions early in the year drove solid contributions within our IT consulting brand. We have greatly improved our market position, which solidifies our outlook going forward. Underscoring our success is a digital transformation in critical technology and cybersecurity system upgrades, which will go live as we enter the second quarter. System testing has gone quite well, and we look forward to improved operating and performance process efficiencies later in 2022. Performance for the quarter was strong. The professional segment reported top and bottom line gains led by IT consulting brands, which drove growth in key customer wins and strong collaborations across accounting and finance and our infrastructure and development teams. IND is making progress on its rebuild from pandemic disruptions and is on a continuously improving pace. Overall, we are working through a productive pipeline to capture higher-end IT consulting and managed service opportunities bolstered by elevated cross-selling efforts and a broader geographic footprint. Now looking at real estate, the fourth quarter end of the year was the highest revenue and gross profit of 2021 as a result of improved recruiting and direct placements. Our teams have excelled in ramping strategic partner programs, advancing market relaunches, and supporting our field talent across multiple initiatives. I'm also proud to acknowledge several of our team members who received key accolades from the National Department Association for leadership and volunteer roles that advance not only our industry position, but our commitment to community engagement. Overall, we closed 2021 in a position of strength and executed our strategic leadership alignments, operational restructuring, and set a course for continued Ford success. With that, I'd like to turn the call over to Dan to discuss the financial.