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Comforce third-quarter profit surges 91.3%

November 01 2007

Third-quarter net income rose 91.3% at Comforce Corp. (AMEX: CFS). The company posted profit of $1.8 million in the last quarter, compared with $935,000 in the same period last year.

"PRO Unlimited continued to be the main driver behind our improved performance," said Chairman and CEO John Fanning. PRO's revenue increased 10.3% year-over-year. "At the same time, PRO's gross profit increased to $12.1 million for the quarter, up from $10.6 million for the same period last year," Fanning said.

The Woodbury NY-based company's PRO Unlimited subsidiary provides consulting services for managing contingent workers.

Comforce's third-quarter revenue rose 7.5% to $150.7 million from $140.2 million in the third quarter of 2006.

Gross margin, however, fell to 15.4% from 15.7%.

Revenue in the company's staff augmentation segment, which includes information technology and telecom staffing as well as VMS services, rose 3.5%. Fanning said increased sales to technical and IT customers propelled the growth.

Comforce Corp. (NYS: CFS)

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

Revenue: $150.7 million, +7.5%

Net income: $1.8 million, +91.3%

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