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TSR revenue declines 25%

October 08 2009
Staffing Industry Analysts North American Daily News

TSR Inc. (NASD: TSRI), a Hauppauge NY-based information technology staffing firm, reported revenue fell 25.2% to $9.1 million in is fiscal first quarter ended Aug. 31 from $12.2 million in the year-ago quarter.

Revenue declined as the number of consultants on billing with customers fell to 215 in the first quarter from 299 in the same period last year.

TSR's first-quarter net income fell 70.7% to $63,000 from $215,000 in the first quarter of the previous year.

"The broad-based economic downturn has had a serious impact on our bottom line as evidenced by the results for the quarter just ended," CEO Joe Hughes said in a statement. "Additionally, since any improvements appear to be slow and uncertain, we expect the economic conditions to continue to adversely affect earnings throughout our fiscal year."

For the fiscal first quarter ended Aug. 31, 2009, compared with the same period in the previous fiscal year.
Revenue: $9.1 million, -25.2%
Net income: $63,000, -70.7%


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