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View All NewsIT staffing provider TSR revenue up 10% in fiscal second quarter
Net revenue rose 9.8% at IT staffing provider TSR Inc. (NASD: TSRI) in its fiscal second quarter ended Nov. 30. The Hauppauge, NY-based company said the average number of consultants on billing with customers increased to 391 in the quarter from 368 in the year-ago quarter.
| (US$) | Q2 2018 | Q2 2017 | % growth |
| Net revenue | $16,515,596 | $15,042,789 | 9.8% |
| Gross profit | $2,719,846 | $2,590,038 | 5.0% |
| Gross margin | 16.5% | 17.2% | |
| Net income attributable to TSR | $227,088 | $126,317 | 79.8% |
Quote
“Our revenue increased 9.8% for the second quarter reflecting revenue added primarily from providing an increased number of IT contractors to our clients,” CEO Christopher Hughes said. “Although, gross profit as a percentage of revenue decreased, a decrease in selling, general and administrative expenses, along with the increased revenue, resulted in an increase in net income of $101,000 for the quarter.”
Share price and market cap
Shares in TSR were up 27.59% to $7.40 as of 1:13 p.m. Eastern time, and the company had a market cap of $14.52 million.