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Arcadia Resources Inc (AMEX: KAD) reported a 3.2% decline in revenue in its services segment, which includes the firm's staffing operations, to $30.2 million in its first fiscal quarter ended June 30.
An increase in revenue from home-care services was offset by weakness in Arcadia's medical staffing and industrial staffing segments, President and CEO Marvin Richardson said in a statement.
Total first-quarter revenue for Arcadia totaled $37.4 million, down 1.6% from $38.0 million in the same period in the previous year.
Gross margin improved to 34.6% year-over-year from 31.8%.
First-quarter net loss narrowed to $3.3 million from $7.4 million in the first quarter of last year.
The Indianapolis-based firm provides healthcare and other types of staffing as well as health equipment sales and pharmacy services.
Arcadia Resources Inc. (AMEX: KAD)
For the fiscal first quarter ended June 30, 2008, compared with the same period in the previous year.
Revenue: $37.4 million, -1.6%
Net loss: $3.3 million vs. net loss of $7.4 million