Daily News
View All NewsTSR revenue up 3%, net income rises
TSR Inc. (NASD: TSRI), a Hauppauge, NY-based supplier of IT staffing, reported revenue rose 3.3% to $15.5 million in its fiscal fourth quarter ended May 31. The revenue increase resulted from an increase in the average daily rates charged for consultants on billing with customers.
| (US$ thousands) | Q4 2016 | Q4 2015 | % growth |
| Net revenue | $15,504 | $14,970 | 3.6% |
| Net income attributable to TSR | $169 | $112 | 50.9% |
Quote
“The increase in revenue resulted from an increase in the average daily rates charged for consultants on billing with customers,” CEO Joseph Hughes. “The current year quarter was also affected by the average number of consultants on billing with customers increasing from approximately 347 in the quarter ended May 31, 2015 to approximately 350 in the quarter ended May 31, 2016. Although we are experiencing a gradual increase in revenue, profitability will continue to be affected until such time as our new sales and recruiting hires generate a sufficient increase in revenue.”
Full-year results
| (US$ thousands) | FY 2016 | FY 2015 | % growth |
| Revenue | $60,998 | $57,403 | 6.3% |
| Gross profit | $9,959 | $9,315 | |
| Gross margin | 16.3% | 16.2% | |
| Net income attributable to TSR | $399 | $193 | 106.7% |
Share price and market cap
Shares in TSR rose 31.51% in early afternoon trading today to $5.02 and TSR had a market cap of $9.89 million, according to Yahoo!