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View All NewsTSR revenue up 9% in fiscal Q4, but gross margin down
IT staffing provider TSR Inc. (NASD: TSR) reported revenue rose 9.0% in its fiscal fourth quarter ended May 31, but gross margin narrowed. The Hauppauge, NY-based firm also reported net income fell.
| (US$ thousands) | Q4 2017 | Q4 2016 | % growth |
| Net revenue | $16,897 | $15,504 | 9.0% |
| Gross profit | $2,652.00 | $2,630 | 0.8% |
| Gross margin percentage | 15.7% | 17.0% | |
| Net income attributable to TSR | $62 | $169 | -63.3% |
Quote
“Our revenue increased 9.0% for the fourth quarter and 2.6% for the fiscal year reflecting revenue added from providing administrative staff in addition to IT contractors to two of our major clients,” CEO Christopher Hughes said. “However, reduced gross profit percentages and increased selling, general and administrative expenses resulted in a reduction in net income. Although we are experiencing an increase in revenue, profitability will continue to be affected until such time as our new sales and recruiting hires generate a sufficient increase in revenue.”
Full-year results
| (US$ thousands) | FY 2017 | FY 2016 | % growth |
| Revenue | $62,573 | $60,998 | 2.6% |
| Gross profit | $10,246 | $9,959 | 2.9% |
| Gross margin | 16.4% | 16.3% | |
| Net income attributable to TSR | $268 | $399 | -32.8% |
Share price and market cap
Shares in TSR rose 0.45% in late morning trading to $4.42. The company had a market cap of $8.7 million, according to Yahoo.