CEO Andrew James Norstrud, General Employment Enterprises Inc. Insider Buys $11,000 of Shares

Andrew James Norstrud, CEO of General Employment Enterprises Inc., bought 50,000 shares of General Employment Enterprises Inc. (Stock Symbol: JOB) at $0.22 per share for a total amount of $11 thousand on March 25, 2014. General Employment Enterprises Inc. is headquartered in Naperville, Illinois. On 04/22/2014, General Employment Enterprises Inc. is pleased to announce that the Company has formed an Advisory Committee and named successful entrepreneur, investor, and financial blogger, Harry Newton, as its first member. On 02/21/2014, General Employment Enterprises Inc. announced its latest quarterly results for its first fiscal 2014 quarter ended December 31, 2013. Net revenues for the quarter ended December 31, 2013 decreased by approximately 17% to approximately $10.8 million, compared to approximately $13 million in the comparable 2012 period. The decrease in revenue was primarily attributed to the significant amount of contract work the Company received in the comparable quarter ended December 31, 2012, both professional and unskilled labor, performed in the New York and New Jersey area for the cleanup after Hurricane Sandy. Cost of revenue, which consists primarily of contractor labor and related costs, decreased by approximately 14% to approximately $7.6 million, compared to approximately $8.9 million for the same period the prior year. The decrease in the Company’s cost of revenue was directly related to the decrease in its contract staffing revenue. General and administrative expenses decreased by approximately $561,000 or 15% to approximately $3.2 million, compared with costs of approximately $3.8 million incurred in the same period the prior year. The decrease was primarily related to the elimination of prior year non-recurring costs and management’s efforts to eliminate unnecessary overhead costs. According to Capital IQ, General Employment Enterprises Inc. has a market cap of $4.79 million, an enterprise value of $8.98 million, and trailing 12 month revenues of $44.29 million. General Employment Enterprises, Inc. provides staffing services in the United States. The company offers professional placement services, including placement of information technology, engineering, and accounting professionals on either a regular placement basis or a temporary contract basis. It also provides weekly temporary staffing for light industrial clients. The company markets its services under the General Employment Enterprises, Omni One, Business Management Personnel, Ashley Ellis, Triad Personnel Services, Triad Staffing, Generation Technologies, BMCH, and BMCHPA trade names. General Employment Enterprises, Inc. was founded in 1893 and is headquartered in Naperville, Illinois. Andrew James Norstrud’s most recent annual compensation from General Employment Enterprises, Inc. is a salary of $126,000, $63,000 in other compensation, and a total compensation of $189,000. Mr. Norstrud is 40 years old. According to his biography, Mr. Andrew J. Norstrud is Chief Executive Officer, Chief Financial Officer, Treasurer of the Company. Mr. Norstrud joined General Employment Enterprises, Inc. in March of 2013. Prior to his employment with General Employment Enterprises, Inc., Mr. Norstrud was a consultant at Norco Accounting and Consulting where he concentrated his services on assisting companies with mergers and acquisitions and SEC filing requirements. Mr. Norstrud also served as Chief Financial Officer for Jagged Peak Inc. and Segmentz Inc. In both companies he played an instrumental role in achieving the Company’s strategic goals by pursuing and attaining growth initiatives, building an exceptional financial team, implementing a new accounting system, raising necessary financing and implementing the structure required of public companies. At Segmentz Inc. he also concentrated on completing and integrating strategic acquisitions. Previously, Mr. Norstrud worked for both Grant Thornton LLP and PricewaterhouseCoopers LLP and has extensive experience with young, rapid growth public companies. Mr. Norstrud earned a Master of Accounting with a systems emphasis from the University of Florida and is a Florida licensed Certified Public Accountant. All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.