Fortune Industries Inc.'s (AMEX: FFI) professional employer organization revenue fell 26.2% year-over-year to $16.4 million in its fiscal second quarter ended Feb. 28.

Total second-quarter revenue at the Indianapolis-based firm fell 60.8% year-over-year — going to $16.4 million from $41.9 million. The second quarter of the previous year included several nonstaffing businesses that were sold Nov. 30. Fortune now focuses on the PEO segment.

Second-quarter net income was $15,000 compared with a net loss of $2.8 million in the year-ago quarter.

The company also announced it named Tena Mayberry as president. Mayberry previously served as president of its Century II Inc. PEO subsidiary.

Fortune had earlier reported that Randy Butler was named CFO.

Fortune Industries Inc. (AMEX: FFI)
For the fiscal second quarter ended, Feb. 28, 2009, compared with the same period in the previous year.
Revenue: $16.4 million, -60.8%
Net income: $15,000 vs. net loss of $2.8 million