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TSR Revenue Rises 4.5%

January 10 2011

TSR Inc. (NASD: TSR), an information technology staffing firm, reported revenue rose 4.5 percent on a year-over-year basis to $9.8 million in its fiscal second quarter ended Nov. 30.

Gross margin improved to 19.5 percent from 18.0 percent in the year-ago quarter.

TSR reported second-quarter net income of $175,000, up 73.3 percent from $101,000 in the second quarter of the previous year.

"Since 2008, the broad-based economic downturn has had a serious impact on our bottom line," said CEO Jo Hughes. "More recently however, there have been indications that economic conditions are improving, resulting in increased opportunities to place consultants on billing with customers. Although our customers' IT spending may be increasing, the economic outlook remains uncertain and we expect any improvements in our operating results to also be slow and uncertain."

TSR is based in Hauppauge, N.Y.

For the fiscal second quarter ended Nov. 30, 2010, compared with the same period in the previous year.
Revenue: $9.8 million, +4.5 percent
Net income: $175,000, +73.3 percent


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