Futuris Co. (OTCMKTS: FTRS), a company set up as a consolidator of staffing and other companies, announced Oct. 4 that revenue fell 10.2% in its fiscal year ended July 31, though the company posted a profit of $2.9 million. Futuris also named Larry Parrotte as its new CEO.

Parrotte takes over from Robert Day, who had been serving as interim CEO at the Rockville, Maryland-based company. Day will remain as Futuris’ CFO.

Parrotte’s experience includes having served as CEO, COO and in other leadership roles at both private and public service sector companies, according to Futuris.

“With $2.9 million in net profit for the fiscal year end, I’m very pleased that Futuris is a profitable company,” Parrotte said. “We expect to finish our certified audit very soon, and this will enable us to up list to the OTC QB and also commence our Regulation A capital raise. We are continuing to acquire companies, and I have several new targets in view, so I expect our growth to continue.”

Futuris has acquired 11 companies that are now consolidated into seven subsidiaries. Recent acquisitions by Futuris include the healthcare staffing business of Recruiter.com Group Inc. and IT staffing and services provider Insigma.

Click on image to enlarge.