TSR Inc. (NASD: TSRI), a Hauppauge, NY-based supplier of IT staffing, reported revenue rose 6.1% to $15.1 million in its fiscal third quarter ended Feb. 29. The revenue increase resulted primarily from an increase in the average daily rate charged as the company placed more consultants in higher level positions, as well as a slight increase in customers.

Net loss for the quarter decreased year over year to $24,000 from a net loss of $85,000 in the prior year.

Quote

“Our revenue increase of 6.1% for the third quarter revenue resulted primarily from the average daily rate charged for the consultants on billing with customers increasing approximately 6.1% in the current quarter compared with the prior year quarter,” said CEO Joe Hughes. “This rate increase is a result of placing more consultants in higher level positions. This increase in revenue also resulted from the average number of consultants on billing with customers increasing slightly from 353 for the quarter ended Feb. 28, 2015, to 357 for the quarter ended Feb. 29, 2016.”

Share price and market cap

Shares in TSR fell 5.22% in early afternoon trading today to $3.63 and TSR had a market cap of $7.12 million, according to Yahoo!