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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."

TSR Inc. (NASD: TSRI)
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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