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Staffmark revenue rises 48%

August 10, 2010

Second-quarter revenue rose 48.4% at Staffmark to $251.4 million from $169.4 million in the year-ago quarter, according to a filing with the U.S. Securities and Exchange Commission. The Cincinnati-based staffing provider said increasing demand for temporary staffing, particularly in light industrial, boosted revenue.

Gross margin narrowed to 14.4% in the second quarter from 15.6% in the same period last year. Higher unemployment taxes ranked as the primary reason for the decline in gross margin, according to the company.

Staffmark is part of Compass Diversified Holdings (NASD: CODI), a larger publicly traded company. Compass' CBS Personnel Holdings Inc. brand acquired Staffmark on Jan. 21, 2008, and CBS later adopted the Staffmark name.