HireQuest, Inc. (NASDAQ:HQI)

Second Quarter 2012 Results(Reported on 8/13/2012)

• Revenue of $24.27 million for the thirteen week period ended June 29, 2012. This represents an increase of 19.6% on revenue of $20.30 million for the thirteen-week period ended July 1, 2011.
• For the second quarter ended June 29, 2012, the company reported net income of $842,583, or $.01 per share, based on 59.15 million basic and 63.99 million diluted weighted average shares outstanding. For the comparable year-ago period, the company reported net income of $669,742, or $.01 per share, based on 57.30 million basic and 61.77 million diluted weighted average shares outstanding.
• Command Center has now reported 12-month trailing earnings of $2.77 million, or about $.043 per share on a fully diluted basis.

“I am pleased by the sharp focus throughout our entire organization on improving sales, margins and profits over the past year,” said Command Center Chairman and CEO Glenn Welstad. “Strong organic sales growth at the branch level in the second quarter and first half of 2012 has been augmented by an increase in our coverage of the Bakken Region of North Dakota, as well as the increase in restoration activities of Disaster Recovery Services, Inc., our wholly-owned subsidiary. We expect these positive trends to continue and have positioned Command Center for even stronger growth in the second half of this year and beyond.”

The company recently announced it had opened, or was in the process of opening, a total of seven new branch offices in six different states. This move is expected to accelerate its expansion and create greater visibility for the company nationwide.