ClearPoint Business Resources Inc. (OTCBB: CPBR.OB) third-quarter revenue fell 57.9% to approximately $1.4 million from $3.2 million in the third quarter of 2008, according to a 10-Q filing with the U.S. Securities and Exchange Commission. The company said it included payrolling services revenue on a net basis in the third quarter of 2009 but had reported it on a gross basis in the third quarter of 2008.

Chalfont PA-based ClearPoint operates its iLabor platform, an online service that acts as a broker between staffing firms and clients. In addition, it provides vendor management services and its revenue also includes royalties from staffing services.

The company posted a third-quarter net loss of $1.9 million compared with a net loss of $1.6 million in the same period last year. The 10-Q includes a going concern note that cash generated from operations may not be enough to fund operations and meet debt payments over the next year.

ClearPoint Business Resources Inc. (OTCBB: CPBR.OB)
For the third quarter ended Sept. 30, 2009, compared with the same period in the previous year.
Revenue: $1.4 million, -57.9%
Net loss: $1.9 million vs. net loss of $1.6 million