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TeamStaff revenue down 4.8%

August 16 2010

Somerset NJ-based healthcare and logistical staffing firm TeamStaff Inc. reported revenue of $10.1 million for the quarter ended June 30. Revenue for the quarter was down 4.8% from $11.3 million in the comparable quarter last year. Sequentially, revenue was up 3.1% from $9.8 million in the previous quarter.


The company said gross profit margin was 13.3% for the quarter compared to 15.2% for the same period in 2009. Net loss for the quarter was $576,000, up from the net loss of $533,000 posted a year ago.


 "The sequential quarterly improvements in revenue and gross margins, as well as a reduction in net losses, confirms that TeamStaff is on track to achieve its goals, though a significant amount of work remains ahead," said CEO Zachary Parker in a statement. "2010 is clearly a year of transition and stabilization with a focus on preparing for profitable growth in our core and adjacent government services markets.  This will continue to entail changes both at corporate and our GS (government solutions) subsidiary." 


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