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TSR net income slips 8.5%

January 08 2008
Hauppauge NY-based information technology company TSR Inc. (NASD: TSRI) said net income fell 8.5% to $378,000 in its fiscal second quarter ended Nov. 30 as selling expenses rose.

However, revenue at the company rose 4.9% to $13.2 million in the second quarter from $12.6 million in the same period in the prior year.

"While the number of consultants on billing with clients was flat, revenues increased primarily due to a change in business mix toward higher level skills, which allowed the company to increase its average billing rates to customers," said CEO Joe Hughes. "However, income from operations did not increase as expected because selling expenses increased due to additional new hires."

The company also said its board approved a dividend of eight cents per share.

For the second quarter ended Nov. 30, 2007, compared with the same period in the prior year.
Revenue: $13.2 million, +4.9%
Net income: $378,000, -8.5%


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