BGSF, Inc.

Good morning, everyone. Welcome to the BGSS, Inc. Fiscal 2023 Fourth Quarter and Full Year Financial Results Conference Call. All participants will be in a listen-only mode. Should you need assistance, please send to a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star and then one on your touch-tone telephone. To withdraw your questions, you may press star and two. As a reminder, this conference call is being recorded. Now I'd like to turn the call over to Sammie Martin, three-part advisors. Ma'am, please go ahead.

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 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.

Thank you, Sandy, and greetings to everyone on today's call. Fiscal 2023 marked a pivotal year for BGSS characterized by significant achievements and a successful execution of our strategic and transformative plans. We are pleased to report over $20 million in operating cash flow accompanied by 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. On a same-day basis, we estimate 7% growth in total 2023 revenue compared to an adjusted 2022. In specific segments, property management revenues grew by almost 5% on a same-day basis for the year, while professional revenues experienced an 8% increase on a same-day basis. Notably, professional revenue in the second half of 2023 was intentionally lowered due to a strategic shift away from lower margin IT placements. Our 2023 initiatives involved successfully integrating Horm Solutions, acquired in December of 2022, and acquiring Arroyo Consulting in April of 2023. These acquisitions provide clients with high-end finance and accounting workforce solutions and robust nearshore and offshore development capabilities. Furthermore, our strength in partnerships with leading technology companies, including Workday, ServiceNow, Microsoft, SAP, Oracle, and Salesforce, have amplified the BGSF brand, fostering new business opportunities. The rebranding to BGSF from various acquired trade names further enhanced our brand recognition in 2023 as well. I'm immensely proud of our team's dedication and hard work, which has been instrumental in advancing our vision. The March CEO Confidence Index Poll, hitting its highest level since 2021, gives us confidence in the continued growth of U.S. businesses. Our strategic decisions regarding service offerings are well positioned for growth in 2024 and beyond. Now, I'll turn the call over to John.