Daily News

View All News

Pomeroy staffing revenue falls 77%

May 19, 2009

Pomeroy IT Solutions Inc. (NASD: PMRY) announced technical staffing revenue fell 76.6% year-over-year to $7.6 million in its fiscal first quarter ended April 5. The Hebron KY-based information technology services and staffing firm, said the decline came as the result of the nonrenewal of a contract in June 2008 with a major customer that would have been unprofitable.

Technical staffing gross margin at Pomeroy increased to 16.1% in the first quarter compared with 8.0% in the year-ago quarter.

Pomeroy's total first-quarter revenue fell 38.4% year-over-year to $89.5 million.

The company posted a net loss of $592,000 compared with a net loss of $4.2 million in the first quarter of the previous year.