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Corporate Resource revenue rises 16%

November 14 2013

Corporate Resource Services Inc. (NASD: CRRS) reported revenue rose 15.8 percent year over year to $209.0 million in its fiscal third quarter ended Oct. 4. Part of the revenue increase is attributable to acquisitions the New York-based staffing firm made late in 2012 and in 2013 that added $6.9 million in revenue; organic revenue growth was 12.0 percent.

Gross margin edged up to 12.4 from 12.0 percent in the same quarter year prior.

CRS reported third-quarter net income rose to $4.4 million from $1.4 million in the third quarter of 2012.

CRS closed this week on the acquisition of U.K.-based Flex Recruitment Plus Limited (FlexPlus), its first international subsidiary.

The Company operates 238 staffing and on-site facilities throughout the U.S. and the U.K. It ranks 28th on Staffing Industry Analysts’ list of fastest-growing staffing firms in the U.S.

Corporate Resource Services Inc. (NASD: CRRS)
For the three months ended Oct. 4, 2013, compared with the same period in the previous year.
Revenue: $209.0 million, +15.8 percent
Net income: $4.4 million vs. net income of $1.4 million


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