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Net income rose 0.7% at information technology staffing company TSR Inc. (NASD: TSRI). The company posted net income of $447,000 in its fiscal first quarter ended Aug. 31, compared with $444,000 in the same period last year.
Revenue at the Hauppauge NY-based company rose 9.3% to $13.5 million from $12.4 million.
"While we experienced a slight decline in the number of consultants on billing with clients, our income from operations 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, net income did not increase as expected due to a greater effective income tax rate in the quarter ending Aug. 31, 2007, as compared to the prior year."
TSR Inc. (NASD: TSRI)
For the first quarter ended Aug. 31, 2007, compared with the same period last year.
Revenue: $13.5 million, +9.3%
Net income: $447,000, +0.7%