Command Center Inc. (OTC: CCNI) reported revenue fell 10.3% year over year in the third quarter to $24.9 million.

Revenue from branches outside North Dakota rose 6.5% compared to the year-ago period, but a 47% decline from the company’s seven North Dakota branches offset the increase. Command Center reported last year’s third quarter represented the peak of activity in North Dakota before oil prices began to decline in the fourth quarter of 2014; despite the decline in revenue from the North Dakota offices this year, operations within the state remain profitable, according to the company.

Net income at the industrial staffing provider fell to $820,000 from $6.0 million in the third quarter of 2014, when company recorded a one-time, $4.3 million tax benefit.

Gross margin also fell, affected by the decline in higher-margin revenue in North Dakota.

Command Center reported it has engaged in a number of possible acquisition negotiations but nothing has come to fruition. In May, it expressed interest in acquiring Labor SMART Inc. (OTCBB: LTNC). The company continues to look for acquisition opportunities.

Quote

“As we continue to coach and train our branches the tenets of our ‘Keys to Success,’ we see improved customer satisfaction and better business decisions at the branch level. We know this translates into higher revenue and profitability for the company, and we are confident continuing in this process will ultimately lead to greater overall success and shareholder value,” said President and CEO Bubba Sandford. “We currently have the infrastructure in place to expand our operations in areas where we have an existing customer base, and we are confident we can profitably open additional offices in some of these areas within a short time period.”

Sanford added, “We have identified a number of target markets for new or additional branches in the coming months, as we continue to remain focused on profitable operations. In addition, the recent relocation of the corporate office to Denver, while presenting some challenges, will greatly add to the company’s ability to provide quality service to our branches and our customers moving forward.”

Share price and market cap

Command Center shares fell 4.00% in early afternoon trading today to 48 cents and the company has a market cap of $31.50 million, according to Yahoo!