TSR Inc. (NASD: TSRI), a Hauppauge, NY-based supplier of IT staffing, reported revenue rose 4.5% to $15.1 million in its fiscal second quarter ended Nov. 30. The revenue increase resulted primarily from an increase in the average daily rate charged as the company placed more consultants in higher level positions.

Quote

“Our revenue increase of 4.5% for the second quarter revenue resulted primarily from the average daily rate charged for the consultants on billing with customers increasing approximately 8.2% in the current quarter compared with the prior year quarter,” said CEO Joe Hughes. “This rate increase is a result of placing more consultants in higher level positions. This increase in revenue resulted despite the average number of consultants on billing with customers decreasing slightly from 354 for the quarter ended Nov. 30, 2014, to 350 for the quarter ended Nov. 30, 2015. The decrease in net income was primarily attributable to the increase in costs of sales as a percentage of revenue outpacing the increase in revenue.”

Share price and market cap

Shares in TSR fell 3.10% in early afternoon trading today to $4.07 and TSR had a market cap of $7.99 million, according to Yahoo!