Staffing 360 Solutions, Inc. (STAF) saw its loss narrow to $1.43 million in the quarter ended compared with $3.38 million, a year ago.

Revenue during the quarter grew 14 percent to $47.14 million from $41.35 million in the previous year period. Gross margin for the quarter contracted 89 basis points over the previous year period to 17.18 percent. Operating margin for the quarter stood at negative 0.15 percent as compared to a negative 4.02 percent for the previous year period.

Operating loss for the quarter was $0.07 million, compared with an operating loss of $1.66 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $1.39 million compared with $1.26 million in the prior year period. At the same time, adjusted EBITDA margin contracted 10 basis points in the quarter to 2.96 percent from 3.06 percent in the last year period.

"Staffing 360 Solutions continues to grow every year and every quarter," said Matt Briand, president and chief executive officer. "Even taking out the growth from acquisitions, our organic growth of 7% has continued to drive our results. Complementing our sales growth, we have continued to improve the efficiency of our operations, and dropped our operating expenses from 22% of revenue in the second quarter last year to 17% in the most recent quarter. As we realize more economies of scale and continue to grow our revenue, we expect our overall business to see further improvements in 2017."