TSR Inc. (NASD: TSRI), a Hauppauge NY-based information technology staffing firm, reported revenue fell 8.1% year over year to approximately $9.0 million in its fiscal third quarter ended Feb. 28.

The company had 217 consultants on billing with customers in the quarter compared with 250 consultants in the year-ago quarter.

Gross margin narrowed to 17.2% from 18.4%.

TSR posted a net loss of $3,000 compared with net income of $106,000 in the same period last year.

"The broad-based economic downturn has had a serious impact on our bottom line," CEO Joe Hughes said in a statement. "While customers' IT spending during our 2010 fiscal year does not appear to be declining the way it had in prior fiscal years during the economic downturn, any improvements appear to be slow and uncertain and we expect economic conditions to continue to adversely affect earnings throughout our fiscal year."

TSR Inc. (NASD: TSRI)
For the fiscal third quarter ended Feb. 28, 2010, compared with the same period in the previous year.
Revenue: $9.0 million, -8.1%
Net loss: $3,000 vs. net income of $106,000