Daily News

View All News

TSR revenue up 14%

July 31, 2015

TSR Inc. (NASD: TSRI) reported revenue rose 13.8% in its fiscal fourth quarter ended May 31. The Hauppauge, NY-based supplier of IT staffing reported net income of $139,000 compared to a net loss of $9,000 in the year-ago quarter.

(US$ thousands) Q4 2015 Q4 2014 % growth
Revenue $14,970 $13,149 13.8%
Net loss attributable to TSR $139 -$9 nm

Quote

“The current year quarter was affected by an increase in cost of sales as a result of utilizing a higher percentage of employees, with their related payroll costs, rather than utilizing subcontractors to perform services for our customers,” acting CEO Christopher Hughes said. “Reliance on employees rather than subcontractors is a function of changing customer requirements. Although we are experiencing a gradual increase in revenue, profitability will continue to be affected until such time as our new sales and recruiting hires generate a sufficient increase in revenue.”

Full-year results

(US$ thousands) FY 2015 FY 2014 % growth
Revenue $57,403 $49,530 15.9%
Net loss attributable to TSR $293 $17 nm

Share price and market cap

Shares in TSR rose 12.37% in the early afternoon to $4.27. Market cap was $8.3 million, according to Yahoo!