Investors

Press Release

Oct 27, 2020

PRGX Global, Inc. Announces Third Quarter 2020 Financial Results Increasing 2020 Adjusted EBITDA Guidance

ATLANTA, Oct. 27, 2020 (GLOBE NEWSWIRE) -- PRGX Global, Inc. (Nasdaq: PRGX), a global leader in Recovery Audit and Spend Analytics services, today announced its unaudited financial results for the third quarter and nine months ended September 30, 2020.

Quarterly Highlights

  • Revenue of $41.5 million, which was positively impacted by approximately $0.5 million from a weaker U.S. dollar compared to the same period last year.
  • Net income from continuing operations of $3.0 million compared to a net loss of $1.5 million in the same period last year
  • Adjusted EBITDA from continuing operations of $9.3 million, the highest third quarter Adjusted EBITDA in seven years and a 67.2% increase compared to the third quarter of 2019
  • Increasing 2020 annual Adjusted EBITDA guidance for the second time this year to approximately $32 million
  For the Three Months
Ended September 30,
  For the Nine Months
Ended September 30,
Selected Financial Data (dollars in thousands) 2020   2019   % Change   2020   2019   % Change
                       
Revenue                      
Recovery Audit Services - Americas $ 28,026   $ 29,987     -6.5 %   $ 81,211     $ 86,295     -5.9 %
Recovery Audit Services - Europe/Asia-Pacific 12,651   10,803     17.1 %   33,593     32,398     3.7 %
Adjacent Services 855   1,500     -43.0 %   2,578     4,375     -41.1 %
Total $ 41,532   $ 42,290     -1.8 %   $ 117,382     $ 123,068     -4.6 %
Net income (loss) from continuing operations 3,034   (1,542 )   296.8 %   (431 )   (9,959 )   95.7 %
                       
Non-GAAP Financial Measures                      
Adjusted EBITDA from continuing operations $ 9,349   $ 5,592     67.2 %   $ 20,372     $ 10,181     100.1 %

“As we have done consistently throughout 2020, we again delivered on our promises of fiscal discipline, improved productivity and expanded operating leverage during the third quarter. As a result, we’re pleased to be announcing the highest third quarter Adjusted EBITDA in seven years and the highest third quarter Adjusted EBITDA margin percentage in over ten years. During the quarter, we also made solid progress executing strategic initiatives that we believe will usher in the next generation of PRGX,” said Ron Stewart, President and Chief Executive Officer.

“With over 75 percent of our revenue coming from clients providing essential goods and services, our resilient client base has supported these strong financial results. As a result of our year-to-date financial performance and our outlook for the rest of the year, we are increasing our 2020 Adjusted EBITDA guidance for the second time this year to approximately $32 million,” concluded Stewart.

Unaudited Consolidated Results from Continuing Operations for the Three Months Ended September 30, 2020

Consolidated revenue for the third quarter of 2020 was $41.5 million, compared to $42.3 million for the same period in 2019, a decrease of 1.8%. Third quarter 2020 revenue from the Recovery Audit Services segments was $40.7 million compared to $40.8 million in the third quarter of the prior year, and from the Adjacent Services segment was $0.9 million compared to $1.5 million in 2019. On a constant dollar basis adjusted for changes in foreign exchange rates, revenue decreased by 2.9% in the third quarter of 2020 compared to the same period in the prior year.

Total cost of revenue from continuing operations for the third quarter of 2020 was $20.8 million, or 50.1% of revenue, compared to total cost of revenue from continuing operations of $25.5 million, or 60.4% of revenue, for the same period in the prior year.

Selling, general and administrative expenses from continuing operations for the third quarter of 2020 were $13.8 million compared to selling, general and administrative expenses from continuing operations of $13.5 million in the prior year period.

Consolidated net income from continuing operations for the third quarter of 2020 was $3.0 million, or $0.13 per basic and diluted share, compared to consolidated net loss from continuing operations of $1.5 million, or $(0.07) per basic and diluted share, for the same period in 2019.

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) from continuing operations for the third quarter of 2020 was $9.3 million, or 22.5% of revenue, compared to Adjusted EBITDA from continuing operations of $5.6 million, or 13.2% of revenue, for the third quarter of 2019, an increase of $3.8 million or 67.2%.

Schedule 4 attached to this press release provides a reconciliation of net income (loss) to each of Earnings Before Interest and Taxes (EBIT), Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and Adjusted EBITDA.

Unaudited Consolidated Results from Continuing Operations for the Nine Months Ended September 30, 2020

Consolidated revenue for the nine months ended September 30, 2020 was $117.4 million, compared to $123.1 million for the same period in 2019, a decrease of 4.6%. For the nine months ended September 30, 2020, revenue from the Recovery Audit Services segments was $114.8 million compared to $118.7 million in the prior year, and from the Adjacent Services segment was $2.6 million compared to $4.4 million in 2019. On a constant dollar basis adjusted for changes in foreign exchange rates, revenue decreased by 3.8% for the nine months ended September 30, 2020 compared to the same period in the prior year.

Total cost of revenue from continuing operations for the nine months ended September 30, 2020 was $63.9 million, or 54.5% of revenue, compared to total cost of revenue from continuing operations of $77.1 million, or 62.6% of revenue, for the same period in the prior year.

Selling, general and administrative expenses from continuing operations for the nine months ended September 30, 2020 were $41.9 million compared to selling, general and administrative expenses from continuing operations of $43.2 million in the prior year period.

Consolidated net loss from continuing operations for the nine months ended September 30, 2020 was $0.4 million, or $(0.02) per basic and diluted share, compared to consolidated net loss from continuing operations of $10.0 million, or $(0.44) per basic and diluted share, for the same period in 2019.

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) from continuing operations for the nine months ended September 30, 2020 was $20.4 million, or 17.4% of revenue, compared to Adjusted EBITDA from continuing operations of $10.2 million, or 8.3% of revenue, for the same period in 2019, an increase of $10.2 million or 100.1%.

Schedule 4 attached to this press release provides a reconciliation of net income (loss) to each of EBIT, EBITDA and Adjusted EBITDA.

Cash Flow and Liquidity

Net cash provided by operating activities for the third quarter of 2020 was $10.1 million, compared to $5.7 million in the third quarter of the prior year and net cash provided by operating activities was $22.3 million for the nine months ended September 30, 2020 compared to $3.2 million in the same period in the prior year.

At September 30, 2020, the Company had unrestricted cash and cash equivalents of $22.6 million, and borrowings of $31.0 million against its $60.0 million revolving credit facility.

Guidance

For 2020, Adjusted EBITDA from continuing operations is expected to be approximately $32 million.

Third Quarter Earnings Call

As previously announced, management will hold a conference call later today at 5:00 PM (Eastern time) to discuss the Company’s third quarter 2020 financial results. To access the conference call, listeners in the U.S. and Canada should dial (877) 755-7423 at least 5 minutes prior to the start of the conference. Listeners outside the U.S. and Canada should dial (678) 894-3069. To be admitted to the call, listeners should use passcode 2971617.

This teleconference will also be audiocast on the Internet at www.prgx.com (click on “Events & Presentations” under “Investors”). A replay of the audiocast will be available at the same location on www.prgx.com beginning approximately two hours after the conclusion of the live audiocast, extending through March 31, 2021. Please note that the Internet audiocast is “listen-only.” Microsoft Windows Media Player is required to access the live audiocast and the replay and can be downloaded from www.microsoft.com/en-us/downloads

About PRGX

PRGX helps companies spot value in their source-to-pay processes that other sophisticated solutions didn’t get to before. Having identified more than 300 common points of leakage, we help companies reach wider, dig deeper, and act faster to get more value out of their source-to-pay data. We pioneered this industry nearly 50 years ago, and today we help clients in more than 30 countries take back $1.2 billion in annual cash flow. It’s why 75% of top global retailers and a third of the largest companies in the Fortune 500 rely on us. For additional information on PRGX, please visit www.prgx.com.

Forward-Looking Statements
In addition to historical information, this press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include both implied and express statements regarding the Company’s overall condition and growth prospects, and the Company’s expectations regarding its 2020 financial performance. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from the historical results or from any results expressed or implied by such forward-looking statements. Risks that could affect the Company’s future performance include revenue that does not meet expectations or justify costs incurred, the impact of the COVID-19 pandemic on the Company or its clients,
the Company’s ability to develop material sources of new revenue in addition to revenue from its core recovery audit services, changes in the market for the Company’s services, the Company’s ability to retain and attract qualified personnel, the Company’s ability to execute on its profitability improvement efforts, the Company’s ability to integrate recent and future acquisitions, uncertainty in the credit markets, the Company’s ability to maintain compliance with its financial covenants, client bankruptcies, loss of major clients, and other risks generally applicable to the Company’s business. For a discussion of other risk factors that may impact the Company’s business, please see the Company’s filings with the Securities and Exchange Commission. The Company disclaims any obligation or duty to update or modify these forward-looking statements.

Non-GAAP Financial Measures

EBIT, EBITDA and Adjusted EBITDA are all “non-GAAP financial measures” presented as supplemental measures of the Company’s performance. They are not presented in accordance with accounting principles generally accepted in the United States, or GAAP. The Company believes these measures provide additional meaningful information in evaluating its performance over time, and that the rating agencies and a number of lenders use EBITDA and similar measures for similar purposes. In addition, a measure similar to Adjusted EBITDA is used in the restrictive covenants contained in the Company’s secured credit facility. However, EBIT, EBITDA and Adjusted EBITDA have limitations as analytical tools, and you should not consider them in isolation, or as substitutes for analysis of the Company’s results as reported under GAAP. In addition, in evaluating EBIT, EBITDA and Adjusted EBITDA, you should be aware that, as described above, the adjustments may vary from period to period and in the future the Company will incur expenses such as those used in calculating these measures. The Company’s presentation of these measures should not be construed as an inference that future results will be unaffected by unusual or nonrecurring items. Schedule 4 to this press release provides a reconciliation of net income (loss) to each of EBIT, EBITDA and Adjusted EBITDA.

CONTACT: PRGX Global, Inc.
investor-relations@prgx.com
Phone: 770-779-3011

SCHEDULE 1 
PRGX Global, Inc. and Subsidiaries 
Condensed Consolidated Statements of Operations 
(Amounts in thousands, except per share data) 
(Unaudited)
               
  Three Months
Ended September 30,
  Nine Months
Ended September 30,
  2020   2019   2020   2019
Revenue, net $ 41,532     $ 42,290     $ 117,382     $ 123,068  
Operating expenses:              
Cost of revenue 20,813     25,539     63,931     77,086  
Selling, general and administrative expenses 13,751     13,544     41,941     43,209  
Depreciation of property, equipment and software assets 1,295     2,648     5,401     7,232  
Amortization of intangible assets 830     864     2,487     2,598  
Impairment charges 553         553      
Acquisition-related adjustment income     (250 )       (250 )
Total operating expenses 37,242     42,345     114,313     129,875  
Operating income (loss) from continuing operations 4,290     (55 )   3,069     (6,807 )
Foreign currency transaction (gains) losses on short-term intercompany balances (418 )   905      219     1,034  
Interest expense, net 216     376      861     1,441  
Other loss (income) 2     4     4     (4 )
Income (loss) from continuing operations before income tax 4,490     (1,340 )   1,985     (9,278 )
Income tax expense 1,456     202     2,416     681  
Net income (loss) from continuing operations $ 3,034     $ (1,542 )   $ (431 )   $ (9,959 )
Discontinued operations:              
Income from discontinued operations     900         642  
Net income from discontinued operations     900         642  
               
Net income (loss) $ 3,034     $ (642 )   $ (431 )   $ (9,317 )
               
Basic income (loss) per common share:              
Basic income (loss) from continuing operations $ 0.13     $ (0.07 )   $ (0.02 )   $ (0.44 )
Basic income from discontinued operations     0.04         0.03  
Total basic income (loss) per common share $ 0.13     $ (0.03 )   $ (0.02 )   $ (0.41 )
Diluted income (loss) per common share:              
Diluted income (loss) from continuing operations $ 0.13     $ (0.07 )   $ (0.02 )   $ (0.44 )
Diluted income from discontinued operations     0.04         0.03  
Total diluted income (loss) per common share $ 0.13     $ (0.03 )   $ (0.02 )   $ (0.41 )
Weighted average common shares outstanding:              
Basic 22,695     22,770     22,597     22,715  
Diluted 23,018     22,770     22,597     22,715  



SCHEDULE 2 
PRGX Global, Inc. and Subsidiaries 
Condensed Consolidated Balance Sheets 
(Amounts in thousands) 
(Unaudited)
       
  September 30,
2020
  December 31,
2019
ASSETS      
Current assets:      
Cash and cash equivalents $ 22,625     $ 14,982  
Restricted cash 121     46  
Receivables:      
Contract receivables, net 38,763     43,112  
Employee advances and miscellaneous receivables, net 995     704  
Total receivables 39,758     43,816  
Prepaid expenses and other current assets 3,586     5,582  
Total current assets 66,090     64,426  
Property, equipment and software, net 20,566     17,746  
Operating lease right-of-use assets 10,226     10,969  
Goodwill 15,027     15,070  
Intangible assets, net 8,963     11,506  
Deferred income taxes 3,689     3,921  
Other assets 1,584     1,828  
Total assets $ 126,145     $ 125,466  
LIABILITIES AND SHAREHOLDERS’ EQUITY      
Current liabilities:      
Accounts payable and accrued expenses $ 4,462     $ 4,326  
Accrued payroll and related expenses 17,148     12,951  
Current portion of operating lease liabilities 4,117     3,717  
Refund liabilities 4,443     4,513  
Deferred revenue 1,821     2,217  
Current portion of long-term debt     17  
Total current liabilities 31,991     27,741  
Long-term debt 30,673     36,603  
Long-term operating lease liabilities 6,482     7,435  
Refund liabilities 64     9  
Deferred income taxes 628     628  
Total liabilities 69,838     72,416  
Shareholders’ equity:      
Common stock 236     234  
Additional paid-in capital 586,876     582,404  
Accumulated deficit (529,607 )   (529,176 )
Accumulated other comprehensive income (1,198 )   (412 )
Total shareholders’ equity 56,307     53,050  
Total liabilities and shareholders’ equity $ 126,145     $ 125,466  



SCHEDULE 3 
PRGX Global, Inc. and Subsidiaries 
Condensed Consolidated Statements of Cash Flows 
(Amounts in thousands) 
(Unaudited)
 
  Three Months
Ended September 30,
  Nine Months
Ended September 30,
  2020   2019   2020   2019
Cash flows from operating activities:              
Net income (loss) $ 3,034     $ (642 )   $ (431 )   $ (9,317 )
Adjustments to reconcile net income (loss) to net cash provided by operating activities:              
Impairment charges 553         553      
Depreciation and amortization 2,125     3,512     7,888     9,830  
Operating lease right-of-use asset expense 905     1,115     3,100     3,363  
Amortization of deferred loan costs 23     4     71     121  
Noncash interest expense 205     707     205     707  
Stock-based compensation expense 1,959     527     5,155     3,573  
Change in fair value of contingent consideration     (250 )       (250 )
Foreign currency transaction (gains) losses on short-term intercompany balances (418 )   905     219     1,034  
Deferred income taxes (87 )   4     250     4  
Changes in operating assets and liabilities              
Billed receivables (2,790 )   2,203     1,760     8,796  
Unbilled receivables 326     1,402     2,343     551  
Prepaid expenses and other current assets 288     316     1,726     (980 )
Operating lease liabilities (933 )       (2,912 )    
Other assets 22     (1,757 )   (30 )   (3,324 )
Accounts payable and accrued expenses 1,842     (1,187 )   (1,405 )   (4,117 )
Accrued payroll and related expenses 2,890     1,456     4,216     (3,514 )
Refund liabilities 288     (2,123 )   19     (2,437 )
Deferred revenue (154 )   (540 )   (378 )   (832 )
Net cash provided by operating activities 10,078     5,652     22,349     3,208  
Cash flows from investing activities:              
Purchases of property, equipment and software, net of disposal proceeds (2,701 )   (4,039 )   (8,321 )   (11,679 )
Net cash used in investing activities (2,701 )   (4,039 )   (8,321 )   (11,679 )
Cash flows from financing activities:              
Repayments of credit facility (6,000 )   (5,000 )   (44,000 )   (8,000 )
Proceeds from credit facility     8,000     38,000     22,400  
Payment of deferred loan costs             (394 )
Payment of earnout liability related to business acquisitions     (3,750 )       (4,229 )
Restricted stock repurchased from employees for withholding taxes (6 )   (10 )   (404 )   (760 )
Repurchases of common stock     (1,984 )   (284 )   (4,212 )
Proceeds from option exercises             221  
Net cash (used in) provided by financing activities (6,006 )   (2,744 )   (6,688 )   5,026  
Effect of exchange rates on cash and cash equivalents 191     718     378     663  
Net increase (decrease) in cash, cash equivalents and restricted cash 1,562     (413 )   7,718     (2,782 )
Cash, cash equivalents and restricted cash at beginning of period 21,184     11,650     15,028     14,019  
Cash, cash equivalents and restricted cash at end of period $ 22,746     $ 11,237     $ 22,746     $ 11,237  
Supplemental disclosure of cash flow information:              
Cash paid during the period for interest $ 298     $ 343     $ 1,014     $ 728  
Cash paid during the period for income taxes, net of refunds received $ 682     $ 2,116     $ 1,486     $ 2,118  



SCHEDULE 4 
PRGX Global, Inc. and Subsidiaries 
Reconciliation of Net Income (Loss) to EBIT, EBITDA and Adjusted EBITDA 
(Amounts in thousands) 
(Unaudited)
  Three Months
Ended September 30,
  Nine Months
Ended September 30,
  2020   2019   2020   2019
Reconciliation of net income (loss) to EBIT, EBITDA and Adjusted EBITDA:              
Net income (loss) $ 3,034     $ (642 )   $ (431 )   $ (9,317 )
Income tax expense 1,456     202     2,416     681  
Interest expense, net 216     376     861     1,441  
EBIT 4,706     (64 )   2,846     (7,195 )
Depreciation of property, equipment and software assets 1,295     2,648     5,401     7,232  
Amortization of intangible assets 830     864     2,487     2,598  
EBITDA 6,831     3,448     10,734     2,635  
Impairment charges 553         553      
Foreign currency transaction (gains) losses on short-term intercompany balances (418 )   905     219     1,034  
Acquisition-related adjustment income     (250 )       (250 )
Transformation, severance, and other expenses 422     1,858     2,401     3,835  
Investigation and settlement of employment matter         1,306      
Other loss (income) 2     4     4     (4 )
Stock-based compensation 1,959     527     5,155     3,573  
Adjusted EBITDA $ 9,349     $ 6,492     $ 20,372     $ 10,823  
Adjusted EBITDA from continuing operations $ 9,349     $ 5,592     $ 20,372     $ 10,181  
Adjusted EBITDA from discontinued operations $     $ 900     $     $ 642  

EBIT, EBITDA and Adjusted EBITDA are all “non-GAAP financial measures” presented as supplemental measures of our performance. They are not presented in accordance with accounting principles generally accepted in the United States, or GAAP. The Company believes these measures provide additional meaningful information in evaluating the Company’s performance over time, and that the rating agencies and a number of lenders use EBIT, EBITDA and similar measures for similar purposes. In addition, a measure similar to Adjusted EBITDA is used in the restrictive covenants contained in the Company’s secured credit facility. However, EBIT, EBITDA and Adjusted EBITDA have limitations as analytical tools, and you should not consider them in isolation, or as substitutes for analysis of our results as reported under GAAP. In addition, in evaluating EBIT, EBITDA and Adjusted EBITDA, you should be aware that in the future we will incur expenses such as those used in calculating these measures. Our presentation of these measures should not be construed as an inference that our future results will be unaffected by unusual or nonrecurring items.


SCHEDULE 5 
PRGX Global, Inc. and Subsidiaries 
Results by Operating Segment * 
(Amounts in thousands) 
(Unaudited)
 
  Three Months
Ended September 30,
  Nine Months
Ended September 30,
  2020   2019   Change   2020   2019   Change
Revenue, net                      
Recovery Audit Services - Americas $ 28,026     $ 29,987     $ (1,961 )   $ 81,211     $ 86,295     $ (5,084 )
Recovery Audit Services - Europe/Asia-Pacific 12,651     10,803     1,848     33,593     32,398     1,195  
Adjacent Services 855     1,500     (645 )   2,578     4,375     (1,797 )
Total $ 41,532     $ 42,290     $ (758 )   $ 117,382     $ 123,068     $ (5,686 )
Cost of revenue                      
Recovery Audit Services - Americas $ 14,193     $ 17,201     $ (3,008 )   $ 44,527     $ 49,140     $ (4,613 )
Recovery Audit Services - Europe/Asia-Pacific 6,324     6,661     (337 )   18,323     20,576     (2,253 )
Adjacent Services 296     1,677     (1,381 )   1,081     7,370     (6,289 )
Total $ 20,813     $ 25,539     $ (4,726 )   $ 63,931     $ 77,086     $ (13,155 )
Selling, general and administrative expenses                      
Recovery Audit Services - Americas $ 1,943     $ 3,464     $ (1,521 )   $ 6,170     $ 10,490     $ (4,320 )
Recovery Audit Services - Europe/Asia-Pacific 1,209     1,801     (592 )   3,758     6,553     (2,795 )
Adjacent Services (29 )   172     (201 )   (82 )   1,081     (1,163 )
Corporate 10,628     8,107     2,521     32,095     25,085     7,010  
Total $ 13,751     $ 13,544     $ 207     $ 41,941     $ 43,209     $ (1,268 )
Depreciation of property, equipment and software assets                      
Recovery Audit Services - Americas $ 1,120     $ 2,191     $ (1,071 )   $ 4,835     $ 5,872     $ (1,037 )
Recovery Audit Services - Europe/Asia-Pacific 162     176     (14 )   486     520     (34 )
Adjacent Services 13     281     (268 )   80     840     (760 )
Total $ 1,295     $ 2,648     $ (1,353 )   $ 5,401     $ 7,232     $ (1,831 )
Amortization of intangible assets                      
Recovery Audit Services - Americas $ 408     $ 437     $ (29 )   $ 1,224     $ 1,313     $ (89 )
Recovery Audit Services - Europe/Asia-Pacific 43     41     2     126     126      
Adjacent Services 379     386     (7 )   1,137     1,159     (22 )
Total $ 830     $ 864     $ (34 )   $ 2,487     $ 2,598     $ (111 )
Impairment charges                      
Adjacent Services $ 553     $     $ 553     $ 553     $     $ 553  
Total $ 553     $     $ 553     $ 553     $     $ 553  
Acquisition-related adjustments                      
Corporate $     $ (250 )   $ 250     $     $ (250 )   $ 250  
Total $     $ (250 )   $ 250     $     $ (250 )   $ 250  
Operating income (loss)                      
Recovery Audit Services - Americas $ 10,362     $ 6,694     $ 3,668     $ 24,455     $ 19,480     $ 4,975  
Recovery Audit Services - Europe/Asia-Pacific 4,913     2,124     2,789     10,900     4,623     6,277  
Adjacent Services (357 )   (1,016 )   659     (191 )   (6,075 )   5,884  
Corporate (10,628 )   (7,857 )   (2,771 )   (32,095 )   (24,835 )   (7,260 )
Total $ 4,290     $ (55 )   $ 4,345     $ 3,069     $ (6,807 )   $ 9,876  
Adjusted EBITDA from continuing operations                      
Recovery Audit Services - Americas $ 11,938     $ 9,976     $ 1,962     $ 31,577     $ 27,697     $ 3,880  
Recovery Audit Services - Europe/Asia-Pacific 5,317     2,481     2,836     12,100     5,654     6,446  
Adjacent Services 588     (18 )   606     1,706     (3,122 )   4,828  
Corporate (8,494 )   (6,847 )   (1,647 )   (25,011 )   (20,048 )   (4,963 )
Total $ 9,349     $ 5,592     $ 3,757     $ 20,372     $ 10,181     $ 10,191  

* The Recovery Audit Services - Americas segment represents recovery audit services provided in the United States, Canada and Latin America. The Recovery Audit Services - Europe/Asia-Pacific segment represents recovery audit services provided in Europe, Asia and the Pacific region. The Adjacent Services segment represents advisory services, spend analytics and supplier information management services.


PRGX Logo_TM 2017-Black.jpg

Source: PRGX Global, Inc.


Shareholder Services

Registered shareholders with questions concerning the transfer or registration of their shares may call Victor A. Allums, Senior Vice President, at (770) 779-3011.

For prompt assistance on address changes, consolidation of duplicate accounts or related matters, shareholders should contact:



American Stock Transfer & Trust Company
59 Maiden Lane
New York, NY 10038
1-800-937-5449
1-718-921-8124
info@amstock.com


Overnight Delivery Address:
American Stock Transfer & Trust Company
Operations Center
6201 15th Avenue
Brooklyn, NY 11219

 

Financial Community Information

Inquiries from institutional investors, financial analysts, registered representatives, portfolio managers and individual shareholders should be directed to:

PRGX Global, Inc.
600 Galleria Parkway
Suite 100
Atlanta, GA 30339
Email: investor-relations@prgx.com
Phone: 770-779-3011

Investor Relations

Phone: 770-779-3011

E-mail: investor-relations@prgx.com

Legal

Victor A. Allums

Phone: (770) 779-3011

Accountants

BDO USA, LLP



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