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Clearpoint swings to loss

November 14 2007

ClearPoint Business Resources Inc. (NASD: CPBR) posted a third-quarter loss of $158,204 compared with net income of $377,030 in the same period last year.

The Chalfont PA-based company, which provides staffing and VMS services, said third-quarter revenue rose 79.2% to $52.4 million from $29.3 million in the third quarter of 2006. Gross margin fell to 11.2% from 17.3%.

ClearPoint said it was in the midst of changing to a franchising business from an owner/operator of staffing branches. Also, the company said it completed its integration of Advantage Services Group, a Florida-based staffing company it acquired in February.

ClearPoint Business Resources Inc. (NASD: CPBR)

For the third quarter ended Sept. 30, 2007, compared with the same period in 2006.

Revenue: $52.4 million, +79.2%

Net loss: $158,204 vs. net income of $347,030


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