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Analysts International plunges 33% in 3Q08

October 29 2008

Information technology staffing and services firm Analysts International Corp. (NASD: ANLY) generated revenue of $62.6 million for the third quarter of 2008, down 33% from $93.5 million for the third quarter of 2007. The company reported a net loss of $0.5 million for the quarter compared to a net loss of $0.4 million for the third quarter of 2007. These losses include restructuring, severance and other consulting costs for the third quarters of 2008 and 2007 of $0.3 million and $0.4 million, respectively.

Gross margin for the quarter was 18.8%, up from 15.1% in the same quarter last year.

The company attributed the decrease in revenue in the third quarter largely to its planned exit from non-core and low-margin lines of business.

"In the third quarter of 2008, we saw a reduction in our national accounts and regional staffing business and lower product sales in our solutions business, which were partially offset by higher overall bill rates and lower operating expense," said Elmer Baldwin, president and CEO.

Analysts International Corp. (NASD: ANLY)
For the quarter ended Sept. 30, 2008,
compared with the same period in 2007
Revenue: $62.6 million, -33%
Net loss: $538,000 vs. net loss of $448,000

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