01:53 PM EDT, 05/09/2024 (MT Newswires) -- BGSF ( BGSF ) shares were down about 18% in recent Thursday trading after the company reported Q1 adjusted earnings of $0.07 per share, down from $0.16 a year earlier, in the previous day.

Revenue for the quarter ended March 31 was $68.8 million, down from $75.3 million a year earlier.

Analysts surveyed by Capital IQ expected $72.9 million.

Separately, the company said late Wednesday it has initiated a process to evaluate potential strategic alternatives and has engaged Houlihan Lokey as its financial advisors to maximize shareholder value.

BGSF ( BGSF ) also said it has suspended its quarterly dividend until the strategic review is complete.

Price: 7.47, Change: -1.66, Percent Change: -18.17