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Comforce profit rises 17%

March 11 2008

Fourth-quarter net income rose 17.0% at Woodbury NY-based Comforce Corp. (AMEX: CFS). The company posted profit of $2.2 million in the quarter compared with $1.9 million in the same period in the previous year.

Revenue for the quarter, however, fell 2.9% to $144.7 million from $149.1 million in the fourth quarter of 2006. Comforce said the fourth quarter of 2007 was one week shorter than the previous year's. Gross margin improved to 16.6% from 16.5%.

The company said its staff augmentation revenue fell by $4.8 million in the quarter because of decreases in information technology, technical services, and telecom services revenue.

Full-year 2007 net income rose 46.9% to $6.0 million from $4.1 million in 2006. Net income for the year includes a settlement payment of $1.0 million received in November from the buyer of the company's niche telecom operations which it sold in 2004.

Full-year 2007 revenue rose 3.3% to $586.7 million from $567.8 million in 2006. Gross margin improved to 15.8% from 15.7%.

Comforce Corp. (AMEX: CFS)
For the fourth quarter ended Dec. 30, 2007, compared with the same period in 2006.
Revenue: $144.7 million, -2.9%
Net income: $2.2 million, +17.0%

For full-year 2007 ended Dec. 30, 2007, compared with the previous year.
Revenue: $586.7 million, +3.3%
Net income: $6.0 million, +46.9%

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