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Comsys revenue down 15%

July 30 2009

Revenue fell 14.8% year-over-year in the second quarter at Comsys IT Partners Inc. (NASD: CITP) to $156.8 million. Second-quarter gross margin at the Houston-based information technology staffing firm improved to 24.5% from 24.4% in the year-ago quarter.

"Billable hours in the second quarter were down overall versus last year, but the rate of decline in our average weekly billable hours since the beginning of May has slowed," Senior VP and Chief Accounting Officer Amy Bobbitt said in a statement.

Billable hours fell 10.6% from the second quarter of last year but were down 2.0% compared with the first quarter of this year.

Second-quarter net income was $2.4 million, down 61.6% from $6.2 million in the second quarter of 2008.

Comsys IT Partners Inc. (NASD: CITP)
For the second quarter ended June 28, 2009, compared with the same period in 2008.
Revenue: $156.8 million, -14.8%
Net income: $2.4 million, -61.6%

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