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Analysts International (NASD: ANLY) reported fourth-quarter revenue fell 4.8 percent on a year-over-year basis to $25.3 million. The company also appointed Brittany McKinney president and CEO. She has been acting as interim president and CEO since Andrew Borgstrom resigned in September 2010.
"We are pleased to have delivered our second consecutive quarter of profitability," said McKinney. "Our IT staffing business has stabilized, our gross margin rates have increased significantly and we have made considerable progress towards getting our costs in line with what the business requires. In addition, the business generated positive annual Adjusted EBITDA for the first time in two years."
For the fourth quarter ended Jan 1, 2011, the information technology services company posted net income of $940,000, compared with a loss of $3.2 million in the quarter ended Jan. 2, 2010. Gross margin improved in the fourth quarter to 24.8 percent from 21.1 percent the year prior.
Full-year revenue fell 25.5 percent to $106.7 million. Much of that decline was from non-core business lines, which the company exited during the year. Revenue from its core business declined 1.9 percent in the fourth quarter and 7.5 percent for the full year, the company said in its report.
Net loss for fiscal 2010 was $480,000, compared with a net loss of $15.9 million in 2009. Gross margin rose to 22.3 percent from 20.0 percent.
Analysts International (NASD: ANLY)
For the fourth quarter ended Jan. 1, 2011, vs. fourth quarter ended Jan. 2, 2010.
Revenue: $25.3 million, -4.8 percent
Net income: $940,000, vs. net loss of $3.2 million
For year ended Jan. 1, 2011, vs. the year ended Jan. 2, 2010.
Revenue: $106.7 million, -25.5 percent
Net loss: $480,000, vs. net loss of $15.9 million