Command Center Inc., a Post Falls-based temporary staffing company with 54 offices in the U.S., has reported second-quarter net income of almost $670,000, or 1 cent per share, up from just over $330,000, also about 1 cent per share, in the year-earlier period.
The company said it had second-quarter revenue of $20.3 million, up more than 6 percent from $19 million in the year-earlier quarter.
Command had the same per-share earnings due to an increase in the number of its outstanding shares. That occurred mainly because of a company financing plan, and also due in part to an employee stock-option plan that was implemented late in 2010, says Glenn Welstad, Command Center's chairman and CEO.
The higher revenue in the latest quarter follows a strong business uptick in the second quarter of 2010 from the placement of temporary employees handling recovery projects in the Gulf Coast oil spill region, Welstad says. The business had strong results through the end of June of this year from its core business revenue outside of disaster-related work, Welstad adds.
Looking forward, the company plans further growth in certain sectors such as energy, including oil-related work in the Bakken Shale Region of North Dakota, Welstad says. "There is a large amount of activity happening in North Dakota; we're just starting to move into that."
The company would provide temporary workers there, he says, and the company expects to see strong margins coming back again because of the nature of the work.
"I think we're going to see a lot of growth in the energy business, and we're focusing on that heavily," Welstad says.
"I also know we're looking at making some small acquisitions in certain areas where we want to bolster our presence. As an example, Texas has a strong economy, and we will be looking at some acquisitions to increase our presence in some of the larger cities there."
The company has offices in 24 states and provides workers for manual labor, light-industrial jobs, and skilled-trade positions. It serves mostly small- to mid-sized businesses in a number of industries, including construction, transportation, warehousing, landscaping, light-manufacturing, retail, and wholesale.
"We're bullish on business, and we're seeing nice increases in revenue," Welstad says. "As shaky as the economy seems to be, we're seeing steady increases and solid business at this time."
Locally, along with its headquarters at 3773 W. Fifth in Post Falls, the company has offices at 8 W. Indiana in Spokane and at 2506 N. Fourth in Coeur d'Alene.