IT staffing provider TSR Inc. (NASDAQ: TSRI) reported revenue rose 24.3% year over year in its fiscal fourth quarter ended May 31. The average number of consultants on billing with customers rose to 701 in the quarter from 479 in the year-ago quarter.

The Hauppauge, New York-based IT staffing firm noted revenue growth was driven by new business development, organic growth and expanded activity with Geneva clients, which TSR acquired in 2020.

“The demand for staffing services remained robust during the quarter. Our revenue increased 24.3% over the prior year’s fourth quarter due to organic growth from new and existing customers,” CEO Thomas Salerno said. 

“TSR’s operational team along with the hundreds of high-quality consultants working with our clients are all doing a fantastic job. We spent the 2021 calendar year building the team and modernizing several of our back-office systems, and we are now seeing some of the benefits of those investments with both sequential growth in revenues and solid operating performance,” Salerno said.

Full-year results

Share price and market cap

Shares in TSR were down 3.96% to $8.98 as of 1:40 p.m. Eastern time; they were 30.52% above their 52-week low, according to FT.com. The company had a market cap of $19.4 million.