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A series of special charges resulted in a wider net loss at Analysts International Corp. (NASD: ANLY). The Minneapolis-based information technology staffing company posted a fourth-quarter net loss of $13.0 million, up from a net loss of $534,000 in the fourth quarter of 2006.
The company said the special charges included $11.1 million in non-cash charges for goodwill and other intangible assets and a tax allowance as well as a $1.8 million charge in severance costs related to its new strategic plan.
Fourth-quarter revenue rose 1.2% to $87.8 million from $86.8 million in the fourth quarter of 2006.
Analysts International's net loss for full-year 2007 was $16.2 million compared with a net loss of $1.1 million in 2006.
Revenue for 2007 was $359.7 million, up 3.7% from $347.0 million in 2006.
Analysts International Corp. (NASD: ANLY)
For the fourth quarter ended Dec. 29, 2007, compared with the same period in 2006.
Revenue: $87.8 million, +1.2%
Net loss: $13.0 million vs. net loss of $534,000
For full-year 2007 ended Dec. 29, 2007, compared with the previous year.
Revenue: $359.7 million, +3.7%
Net loss: $16.2 million vs. net loss of $1.1 million