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CorTech’s total sales rise 33% in Q1

June 02, 2015

CorTech International, a global staffing provider based in Atlanta, reported record first-quarter results as well as $50.2 million in sales during the first four months of 2015 through April 30. Total sales for the quarter rose 33% from the same period in 2014, and gross profit rose 35.9%, which included seasonally high first-quarter SUTA/FUTA costs.

“With the above said, we are seeing a strong year ahead, basically another record as we still have our typical strong Q3 and then Q4 holiday season uptick coming,” said CEO Vincent Rossy. “In reality, not all of our clients are going gang busters as they have in recent previous years and there seems to be an underlying lightness year over year in some of the customer job orders.”

Net income rose 91.5%, excluding a gain of $271,000 on a sale of property asset which the company held.

Rossy said new client business is driving a significant increase of job orders year over year.

“In addition, we have increased our gross margin over the last 10 months with the addition of some higher-margin clients while continuing to lower our SG&A,” Rossy said. “We have invested heavily in advancing financial controls and validations to ensure the financial health of CorTech continues to be strong.”

CorTech ranks on Staffing Industry Analysts’ 2014 list of largest staffing firms in the US.