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Staffmark 2009 revenue falls 28%

March 10 2010

Staffmark, a Cincinnati-based staffing firm, posted 2009 revenue of $745.3 million, down 28.2% from $1.04 billion in 2008, according to a filing with the U.S. Securities and Exchange Commission by parent company Compass Diversified Holdings (NASD: CODI).

Gross margin narrowed to 15.1% in 2009 from 17.2% in 2008.

Staffmark reported 72% of its revenue in 2009 came from industrial staffing, and another 20% came from office/clerical staffing. The company also provides technical staffing, healthcare staffing, employee leasing services and other types of staffing.

CBS Personnel Holdings Inc., part of Compass Diversified, acquired Staffmark on Jan. 21, 2008, and CBS later adopted the Staffmark name. Compass Diversified's total revenue including its nonstaffing businesses for full-year 2009 was $1.25 billion.

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