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Comsys lowers second-quarter profit estimate

May 12, 2008

Comsys IT Partners Inc. (NASD: CITP) lowered its estimated second-quarter net income to between $5.0 million to $6.0 million. The company had earlier projected second-quarter revenue in the range of $5.4 million to $6.4 million. Comsys said it reduced the estimate after it finalized its accounting treatment of a $3.4 million payment for its acquisition of Praeos Technologies Inc. and recorded a pre-tax compensation expense charge of $800,000.