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View All NewsTSR revenue edges down 1%
TSR Inc. (NASD: TSRI), a Hauppauge, NY-based supplier of IT staffing, reported net revenue fell 0.9% to $15.0 million in its fiscal second quarter ended Nov. 30.
The company reported the overall average number of consultants on billing with customers increased to 368 from approximately 350 in the year-ago quarter. However, this included 42 administrative workers — specifically requested by two large customers — at billing rates substantially lower than those charged for computer programming consultants; the average number of computer programming consultants decreased to 326 from 350.
| (US$) | Q2 2017 | Q2 2016 | % growth |
| Net revenue | $15,042,789 | $15,185,006 | -0.9% |
| Gross profit | $2,590,038 | $2,505,615 | 3.4% |
| Gross margin percentage | 17.2% | 16.5% | |
| Net income attributable to TSR | $126,317 | $120,065 | 5.2% |
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“We charge lower daily billing rates for the administrative workers, but also pay lower rates to the administrative workers,” CEO Joe Hughes said. “As a result of the placement of administrative workers and the decrease in the average number of computer programming consultants in the current quarter, our cost of sales decreased as compared to the prior year quarter. We have not yet determined whether we will provide administrative placements on a more widespread basis in the future.”
Share price and market cap
Shares in TSR were unchanged in mid-morning trading today, and TSR had a market cap of $11.28 million, according to Yahoo.