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Companies: Command Center , Inc. (CCNI)

Company Profile


Trickle Research Earnings Update 11-13-18
12-24 Month Target Price $8.75

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Trickle Research Earnings Update 5-15-18
12-24 Month Target Price $9.60

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Trickle Research Earnings Update 11-15-17
12-24 Month Target Price $.80

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Trickle Research initiates coverage of
Command Center, Inc.  9-18-17
12-24 Month Price Target $.80

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Command Center (“CCNI”) is a Denver, Colorado based provider of temporary employment services.  They focus largely on “blue collar” industries including “light industrial, hospitality and event services”. The company currently employs approximately 33,000 “field team members” (temporary workers) through 61 branch offices in 20 states, which in turn service approximately 3,300 customers.  

The company has been in a bit of a transition since new management came on board in early 2013.  The transition was initially geared towards a focus/improvement on earnings (as opposed perhaps to revenues).  We think it is safe to say that management effectively achieved that goal over the following two years.  For fiscal 2014 (ended 12/26/14) vs. 2012 the company reported revenues of $91.8 million vs. $98.4 million (a decrease of roughly 6.5%), yet they achieved Operating Income of $6.5 million vs. $2.5 million and Net Income of $9.1 million versus $1.6 million.  

In contrast to fiscal 2014, fiscal 2015 provided a number of challenges that negatively impacted revenues and earnings.  Those challenges centered around the company’s North Dakota (Bakken) operations, which experienced a $10 million revenue decrease (just over 40%) as a result of the oil industries sharp contraction.  They continue to face visibility challenges associated with the North Dakota assets, which in essence have created the need for more “transitioning”.

On June 3, 2016, the Company announced the acquisition of Hancock Staffing (operating in Arkansas and Oklahoma). We believe that acquisition may indicate a new/renewed focus on growth.  In spite of the challenges presented by the collapse in oil prices, we believe management has done an excellent job since taking control as indicated by a marked improvement in the financial condition of the company, as well as what we view as a more favorable positioning of the business in general. In our view, their handling of some very tough conditions in their highest profile market (North Dakota) speaks to that issue.  

Contact Information

  • 3609 S. Wadsworth Blvd.
  • Suite 250
  • Lakewood, CO 80235

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