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Fortune revenue slips 11%

November 12, 2009
Staffing Industry Analysts North American Daily News

Fortune Industries Inc. (AMEX: FFA), an Indianapolis-based provider of professional employer organization services, said revenue fell 11.4% to $14.8 million in its fiscal first quarter ended Sept. 30 compared with $16.7 million in the year-ago quarter.

Fortune's gross margin, however, increased to 22.9% from 20.3% in the first quarter of the previous fiscal year.

First-quarter net income was $808,000, up from $91,000 in the same period last year.

Fortune Industries Inc. (AMEX: FFI)
For the fiscal first quarter ended Sept. 30, 2009, compared with the same period in the previous year.
Revenue: $14.8 million, -11.4%
Net income: $808,000 vs. net income of $91,000