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Comforce revenue gets managed services boost

March 24 2009

Comforce Corp. (AMEX: CFS) reported fourth-quarter revenue rose 6.6% year-over-year to $154.2 million thanks, in part, to a boost from its PRO Unlimited managed services subsidiary.

PRO's fourth-quarter revenue rose by $9.7 million, or 10.9%, year-over-year, the company announced.

"PRO Unlimited continued to be a major factor in our growth primarily due to the increase in services provided to new customers," said Chairman and CEO John Fanning.

Comforce's fourth-quarter gross margin, however, narrowed to 16.0% from 16.6% in the same period last year. And fourth-quarter net income fell 11.9% year-over-year to $1.9 million.

Full-year 2008 revenue at the Woodbury NY-based staffing firm increased 3.4% to $606.6 million from $586.7 million in 2007.

Full-year gross margin edged up to 15.9% from 15.8%. And full-year net income fell 1.7% from the prior year to $5.9 million in 2008.

Comforce provides engineering, information technology and other types of staffing as well as managed services and vendor management system services.

Comforce Corp. (AMEX: CFS)
For the fourth quarter ended Dec. 28, 2008, compared with the same period in 2007.
Revenue: $154.2 million, +6.6%
Net income: $1.9 million, -11.9%

For the full year ended Dec. 28, 2008, compared with 2007.
Revenue: $606.6 million, +3.4%
Net income: $5.9 million, -1.7%


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