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Government Staffing Firm’s Revenue Up 1%

December 05 2011

Revenue at TeamStaff Inc. (NASD: TSTF) rose 1.2 percent to $10.3 million in its fiscal fourth quarter ended Sept. 30, 2011. The Atlanta-based firm focuses on serving the federal government and provides logistics services and staffing as well as healthcare staffing.

The increase in revenue came, in large part, because of expansion of work on existing contracts, according to the company.

Fourth-quarter gross margin improved to 15.1 percent from 11.1 percent in the year-ago quarter. Improved workplace safety measures helped lower workers’ comp expenses, TeamStaff reported.

The company posted a net loss of $3.7 million in the fourth quarter compared to a net loss of $2.4 million in the same period last year. TeamStaff reported a noncash impairment charge of $2.6 million in the fourth quarter of 2011 compared to a noncash impairment charge of $1.3 million in the fourth quarter of 2010.

TeamStaff recently announced that DLH Solutions would be the new name of its TeamStaff Government Solutions subsidiary. Next year, the company also plans to change its name to DLH Holdings Corp. from TeamStaff.

TeamStaff Inc. (NASD: TSTF)
For the fiscal fourth quarter ended Sept. 30, 2011, compared with the same period in 2010.
Revenue: $10.3 million, +1.2 percent
Net loss: $3.7 million vs. net loss of $2.4 million

For the fiscal year ended Sept. 30, 2011, compared with the previous year.
Revenue: $41.9 million, +2.6 percent
Net loss: $4.3 million vs. net loss of $5.8 million

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