Trending...
- Plan Signed to Purchase Kadima Neuropsychiatry Institute as Clinical Treatment Model and Leading Investigative Site Addressing Suicidal Depression
- Multi-Billion Dollar Drone Cleaning Market Addressed via New UAE Office, AI Drone and Quantum Computing Solutions in Varied Industries ZenaTech, Inc
- Study Suggests Combined Use Of Fluoride And Iodine Is Significantly More Effective In Preventing Tooth Decay Then Fluoride Alone
$ATLN Delivering Over $400 Million in Annual Revenue with 2025 Growth Projections Over $1 Billion
ENGLEWOOD CLIFFS, N.J. - Floridant -- Atlantic International Corp. (Stock Symbol: ATLN) is a leading strategic staffing, outsourced services, and workforce solutions company executing a high-growth strategy. Through its principal operating subsidiary, Lyneer Investments LLC ("Lyneer"), the ATLN has approximately 300 employees that generated over $400 million in revenue (for the twelve months ending December 31, 2023).
According to Staffing Industry Analysts, ATLN is among the top 20 largest national staffing companies servicing the light industrial, commercial, professional, finance, direct placement, and managed service provider verticals. ATLN provides its customers with complete HR solutions, operating 40 independent on-site and vendor-on-premises facilities and paying over 12,000 employees weekly.
ATLN Reports Over $104 Million in Q2 Revenue and 17% Revenue Growth for the 2nd Quarter
On August 15th ATLN announced its financial results for the second quarter ended June 30, 2024.
Key Q2 Financial Highlights:
ATLN reported revenue of $104.6 million, representing a 17% increase compared to $89.4 million for the same period last year. Growth is attributed to expansion within its existing customer base and new customer wins, as well as improving demand for ATLN core service offerings.
More on The Floridant
ATLN Gross profit for the quarter was $11.5 million, representing 11.0% of revenue, compared to $10.9 million, or 12.2% of revenue, in the same period last year.
Margin expansion is expected to leverage the ATLN in-place executive team, existing back-office operations and add higher margin business, including permanent staffing revenues. ATLN expects its next acquisition to bring an array of technology customers to result in higher margin revenue and further diversify our customer base.
As of June 30, 2024, ATLN had approximately 1,100 total customers, compared to 1,000 as of March 31, 2024, a 10% increase quarter-over-quarter.
Operational Highlights:
ATLN subsidiary Lyneer continues to execute on its strategic growth initiatives, including the expansion into new markets and the launch of innovative product lines. ATLN is targeting combined annual revenue in excess of $1 billion in 2025, including acquisitions.
New Onsite Locations: ATLN successfully opened the Rock Hill, South Carolina logistics center on behalf of UPS, bolstering its position in the fast-growing Southeast market and enhancing its service capabilities for the world's largest global logistics provider.
"We are pleased to report another strong quarter, driven by solid revenue growth under the Atlantic brand," said Jeffrey Jagid, ATLN CEO. "Our focus on operational excellence and strategic expansion has enabled us to deliver robust results and strengthen our market position. Looking ahead, we remain committed to growing topline revenue through new facilitates with our existing clients, through new customer acquisition, and through strategic M&A, creating significant value for our shareholders. We also look forward to our pending uplisting to a National Securities Exchange."
More on The Floridant
For the third quarter of 2024, ATLN expects revenue to be in the range of $105 - $115 million, reflecting continued momentum in its core customer base and seasonal trends. ATLN anticipates margins to improve, supported by ongoing efficiency initiatives and strategic investments, as well as reduced integration costs from the completed acquisition of Lyneer.
Key Expansion in Rock Hill, South Carolina
On July 25th ATLN announced the expansion of its operations with the strategic opening of a new location in Rock Hill, South Carolina.
This new facility will support one of the largest global supply chain management companies in the world, reinforcing ATLN commitment to partnering with industry leaders. The expansion underscores the ATLN mission to deliver innovative staffing solutions that drive operational efficiency and success for its clients.
Media Contact
Company Name: Atlantic International Corp.
Contact Person: Kale Fein, Investor Relations
Email: kfein@atlantic-international.com
Phone: +1 (213) 915-6414
Country: United States
Websites: www.atlantic-international.com and www.lyneer.com
DISCLAIMER: https://corporateads.com/disclaimer/
Disclosure listed on the CorporateAds website
According to Staffing Industry Analysts, ATLN is among the top 20 largest national staffing companies servicing the light industrial, commercial, professional, finance, direct placement, and managed service provider verticals. ATLN provides its customers with complete HR solutions, operating 40 independent on-site and vendor-on-premises facilities and paying over 12,000 employees weekly.
ATLN Reports Over $104 Million in Q2 Revenue and 17% Revenue Growth for the 2nd Quarter
On August 15th ATLN announced its financial results for the second quarter ended June 30, 2024.
Key Q2 Financial Highlights:
ATLN reported revenue of $104.6 million, representing a 17% increase compared to $89.4 million for the same period last year. Growth is attributed to expansion within its existing customer base and new customer wins, as well as improving demand for ATLN core service offerings.
More on The Floridant
- Mike Perry and Jon Jones Bring Back Combat Sports' Fastest-Rising Promotion, Dirty Boxing Championship, for DBX 2
- FDA Clears Lumipulse as First Blood Test for Diagnosing Alzheimer Disease
- Sequentex Expands Offerings with Firstbase Partnership to Enhance Remote Workforce Enablement
- Candidate Rod Joseph Joins Haitian Youth at Marlins Haitian Heritage Celebration
- L2 Aviation Honored with James A. Wuenker Growth Award by REDI Cincinnati
ATLN Gross profit for the quarter was $11.5 million, representing 11.0% of revenue, compared to $10.9 million, or 12.2% of revenue, in the same period last year.
Margin expansion is expected to leverage the ATLN in-place executive team, existing back-office operations and add higher margin business, including permanent staffing revenues. ATLN expects its next acquisition to bring an array of technology customers to result in higher margin revenue and further diversify our customer base.
As of June 30, 2024, ATLN had approximately 1,100 total customers, compared to 1,000 as of March 31, 2024, a 10% increase quarter-over-quarter.
Operational Highlights:
ATLN subsidiary Lyneer continues to execute on its strategic growth initiatives, including the expansion into new markets and the launch of innovative product lines. ATLN is targeting combined annual revenue in excess of $1 billion in 2025, including acquisitions.
New Onsite Locations: ATLN successfully opened the Rock Hill, South Carolina logistics center on behalf of UPS, bolstering its position in the fast-growing Southeast market and enhancing its service capabilities for the world's largest global logistics provider.
"We are pleased to report another strong quarter, driven by solid revenue growth under the Atlantic brand," said Jeffrey Jagid, ATLN CEO. "Our focus on operational excellence and strategic expansion has enabled us to deliver robust results and strengthen our market position. Looking ahead, we remain committed to growing topline revenue through new facilitates with our existing clients, through new customer acquisition, and through strategic M&A, creating significant value for our shareholders. We also look forward to our pending uplisting to a National Securities Exchange."
More on The Floridant
- APA Faces Outrage: Child Deaths and a $329 Billion Mental Health Failure
- Refreshed Look for Many of Ray Keating's Pastor Stephen Grant Novels
- Class of 2025 - NYC Basketball Hall of Fame
- The Smart Way to Run Your Flooring Business: Comp-U-Floor Delivers Game-Changing Flooring Industry Software
- TheColdCases.com Emerges as a Leading Voice in Unsolved Crime Journalism and Advocacy
For the third quarter of 2024, ATLN expects revenue to be in the range of $105 - $115 million, reflecting continued momentum in its core customer base and seasonal trends. ATLN anticipates margins to improve, supported by ongoing efficiency initiatives and strategic investments, as well as reduced integration costs from the completed acquisition of Lyneer.
Key Expansion in Rock Hill, South Carolina
On July 25th ATLN announced the expansion of its operations with the strategic opening of a new location in Rock Hill, South Carolina.
This new facility will support one of the largest global supply chain management companies in the world, reinforcing ATLN commitment to partnering with industry leaders. The expansion underscores the ATLN mission to deliver innovative staffing solutions that drive operational efficiency and success for its clients.
Media Contact
Company Name: Atlantic International Corp.
Contact Person: Kale Fein, Investor Relations
Email: kfein@atlantic-international.com
Phone: +1 (213) 915-6414
Country: United States
Websites: www.atlantic-international.com and www.lyneer.com
DISCLAIMER: https://corporateads.com/disclaimer/
Disclosure listed on the CorporateAds website
Source: Corporate Ads
0 Comments
Latest on The Floridant
- CPSFL Partners with The RENEW Experience™ to Prioritize Mental Health of Women
- SALLY'S APIZZA, THE NEW HAVEN PIZZA LEGEND, LAUNCHES SPONSORSHIP OF FERRARI CHALLENGE GT RACING SERIES
- $1B Target by 2027 Amid eSIM, Global Roaming Expansion; $57.6M Q1 Revenue and Market Uplisting, Advancing Toward IQSTEL, Inc. (Stock Symbol: IQST)
- LIB TH-50/TH-80 Benchtop Environmental Chamber Drives Global Demand
- Marc Soucy's Newest Music Series Approaches Its One Year Mark
- Hurst Hardwoods Introduces Premium SELECT Grade European French Oak Flooring
- Fairmint Releases Whitepaper for Open Captable Protocol (OCP) to Advance On-Chain Equity Securities
- Arts Empowered Inc. Hosts FREE "Bugs & Blooms Paint Party" for Kids
- The Flagler Free Clinic Earns National Association of Free and Charitable Clinics Award
- Florida: Governor Ron DeSantis Signs One Bill
- Margaritaville Beach Resort Fort Myers Beach hosts My Autism Connection for day of inclusivity
- Nobel Sustainability Trust Foundation to Present 2025 Sustainability Awards in Miami
- Hidden Treasure Media Awards Honor Faith-Based Content Creators
- Award-winning NJ Author Celebrates New Release and Multi-Author Collaboration
- Community Partners of South Florida to Host Advancing Housing Solutions Expo
- Study Suggests Combined Use Of Fluoride And Iodine Is Significantly More Effective In Preventing Tooth Decay Then Fluoride Alone
- Therapy 911 Launches Mental Health Social Network to Celebrate Mental Health Awareness Month
- RabbitMQ Launches DevSecOps Expert Support and Consulting Services
- Bosco's Beach Launches Vacation Rentals in Panama City Beach, Florida
- $7.8M Financing Boosts NRx's Expansion with Kadima Institute Acquisition for PTSD and Depression Care: NRx Pharmaceuticals, Inc. (Stock Symbol: NRXP)