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Third-quarter revenue fell 50.7% at Analysts International Corp. (NASD: ANYL) to $30.9 million from $62.6 million in the third quarter of 2008.
Gross margin improved to 19.1% in the third quarter from 18.8% in the year-ago quarter. The increase came as it exited lower margin lines of business and accounts, according to the company.
"With the sale of the assets of our value-added reseller and Medical Concepts Staffing operations, we completed all planned divestitures and associated restructuring," President and CEO Elmer Baldwin said. "We can now focus our attention entirely on our IT services business."
Minneapolis-based Analysts International provides information technology services and staffing. In the third quarter, it announced the sale of its value-added reseller business, which primarily sold hardware and related services, to Netarx LLC. Analysts International sold its Medical Concepts Staffing division, which supplied nurse staffing, to Temps Inc. in September.
The company posted a third-quarter net loss of $4.0 million vs. a net loss of $538,000 in the same period last year. The third quarter of 2009 included a $917,000 charge for restructuring costs and other severance-related costs.
Analysts International Corp. (NASD: ANLY)
For the third quarter ended Oct. 3, 2009, compared with the same period in 2008.
Revenue: $30.9 million, -50.7%
Net loss: $4.0 million vs. net loss of $538,000