BGSF, Inc.

Good morning, everyone. Welcome to the BGSF Inc. Fiscal 2024 Third Quarter Financial Results Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal 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 then one on your telephone keypad. To withdraw your question, please press star, then two. As a reminder, this conference call is being recorded. I will now turn the conference over to Sandy Martin, three-part advisors. Please go ahead.

Sandy Martin Good morning. Thank you for joining us today for BGSF's third quarter 2024 earnings conference call. With me on the call 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 discussion 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. Management will refer to non-GAAP measures, including adjusted EPS and adjusted EBITDA. Reconciliations to the nearest GAAP measures can be found at the end of our earnings release. I'll turn the call over to Beth Garvey.

Thanks, Sandy, and thank you all for joining us to discuss our third quarter earnings. I want to start by saying our comments today will be brief as we are still under a process of evaluating options related to the company's review of strategic alternatives. I look forward to discussing this more in the future when we have additional information to share. We will be taking operational questions on today's call. However, we will not take questions concerning the process. While the last 18 months have been a challenging operating environment for our industry and specifically for IT and professional services, we believe that our results are beginning to stabilize with more consistency and even recovery as evidenced by sequential sales improvements of IT consulting on the professional side. We also launched exciting lead generation technology in Q3 as part of an ongoing technology enhancement made possible by our investment into modernization of our tech stack. I'll discuss this more after we cover our results. In the third quarter, total revenues were $71 million, which includes almost $30 million in sales in property management and $41 million in sales for the professional segment. Broadly speaking, the property management sales increased due to typical seasonality as well as forward progression of a number of important strategic initiatives. On the professional side, revenues were under pressure during the third quarter sequentially and versus a year ago due to declines in the finance and accounting division. Excluding farm placement, BGSF's IT consulting sales represent the largest revenue category at almost 70% of quarterly revenues. During the third quarter, IT consulting sales were up slightly on a sequential basis compared to the second quarter. We are encouraged by the leveling off of revenues, and we believe if macro and industry pressures subside, we are more optimistic today that stability could turn into growth in future quarters. Although IT consulting stabilized and grew slightly in the quarter, the finance and accounting division was sequentially softer than the second quarter. Consistent with strength in previous periods, our managed solutions business experienced double-digit growth over a year ago, and 10% sequential lift compared to the second quarter. Managed Solutions continues to be strong growth business for BGSF based on our unique and differentiated services and solutions. After John walks through our detailed financial results for the quarter, I'll return with closing remarks. John?