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Comsys revenue dips

July 31 2008

Second-quarter revenue fell 1.4% at Comsys IT Partners (NASD: CITP) to $184.1 million from $186.6 million in the same period last year. However, the Houston-based information technology staffing firm said revenue fell 3.6% excluding acquisitions.

Gross margin narrowed to 24.4% from 25.1%.

Second-quarter net income fell 35.1% to $6.2 million from $9.6 million in the second quarter of 2007. The quarter included a noncash compensation charge related to its acquisition of Praeos and a higher effective tax rate than a year ago, the company said.

The company forecast third-quarter revenue of between $178 million and $184 million.

Comsys IT Partners Inc. (NASD: CITP)
For the second quarter ended June 29, 2008, compared with the same period in 2007.
Revenue: $184.1 million, -1.4%
Net income: $6.2 million, -35.1%

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