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Command Center Inc.'s (OTCBB: CCNI.OB) first-quarter revenue fell 13.0% to $19.9 million from $22.9 million in the first quarter of last year. Gross margin slipped to 24.4% from 24.6%.
"Similar to other staffing companies, we encountered a very difficult operating environment during the quarter, driven primarily by a slowing of the U.S. economy," CEO Glenn Welstad said. "Although the first quarter is typically the slowest period of the year, it was particularly pronounced this year as many of our clients reduced their cost structures to offset the effects of a general economic downturn."
The Post Falls ID-based industrial staffing firm posted a first-quarter net loss of $2.6 million, down from a $3.1 million loss in the first quarter of 2007.
The net loss included a $1.7 million non-cash charge for current and expected workers' compensation claims.
Command Center Inc. (OTCBB: CCNI.OB)
For the first quarter ended March 28, 2008, compared with the same period in 2007.
Revenue: $19.9 million, -13.0%
Net loss: $2.6 million vs. net loss of $3.1 million