Staffing 360 Solutions, Inc. (STAF) saw its loss narrow to $1.34 million in the quarter ended compared with $1.73 million, a year ago.

Revenue during the quarter surged 33.07 percent to $47.75 million from $35.88 million in the previous year period. Gross margin for the quarter expanded 16 basis points over the previous year period to 17.78 percent. Operating margin for the quarter period stood at positive 0.10 percent as compared to a negative 1.60 percent for the previous year period.

Operating income for the quarter was $0.05 million, compared with an operating loss of $0.57 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $1.76 million compared with $0.62 million in the prior year period. At the same time, adjusted EBITDA margin improved 196 basis points in the quarter to 3.68 percent from 1.73 percent in the last year period.

"Staffing 360 Solutions continues to grow at a record pace," said Matt Briand, president and chief executive officer. "Both our M&A activity, as well as our strong operational improvements from our business units have driven our results higher. Although expanding over 30% overall is impressive, delivering 14% organic growth year over year is a significant achievement. We have boosted growth by winning several new annual contracts in the consumer goods, education and beverage industries, which are expected to show more impact over the coming quarters."