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Corporate Resource revenue rises 5%

May 18 2010

Revenue at Corporate Resource Services Inc. (OTCBB: ACBT.OB) rose 4.5% on a year-over-year basis to $13.5 million in the company's fiscal second quarter ended March 31, 2010, according to a filing with the U.S. Securities and Exchange Commission.

Second-quarter gross margin narrowed to 9.6% from 13.2% in the year-ago quarter.

The company posted a net loss of just over $1.4 million compared with a net loss of $511,000 in the same period a year ago.

Corporate Resource Services Inc. was formerly Accountabilities Inc. The New York-based company focuses on industrial and office/clerical staffing.

Corporate Resource Services reported in its 10-Q that its subsidiary, Corporate Resource Development Inc., acquired portions of New York staffing firm GT Systems in a foreclosure asset purchase agreement effective April 5 of this year including clerical, information technology and administrative staffing operations. See story today on GT's former operator, who was indicted in New York, by clicking here.

Corporate Resource Services Inc. (OTCBB: ACBT.OB)
For the fiscal second quarter ended March 31, 2010, compared with the same period in the previous year.
Revenue: $13.5 million, +4.5%
Net loss: $1.4 million vs. net loss of $511,000

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