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TeamStaff swings to a profit

February 15 2008

TeamStaff Inc.(NASD: TSTF) posted net income of $35,000 in its fiscal first quarter ended Dec. 31, 2007, compared with a loss of $513,000 in the same period last year.

The Somerset NJ-based healthcare and administrative staffing firm, however, reported a 7.0% fall in fourth-quarter revenue to $15.5 million from $16.7 million in the fourth quarter of 2006. Gross margin improved to 17.8% from 15.2%.

TeamStaff also reported fourth-quarter income from operations of $129,000 compared with a loss of $810,000 in the same period in the previous year.

"The company continues to increase its gross margins by a balance of price increases and prudent expense management," said President and CEO Rick Filippelli. "Additionally, SG&A costs decreased 22% from the comparable quarter in fiscal 2007 despite a 38% increase in sales and marketing expenses."

TeamStaff Inc. (NASD: TSTF)
For the first quarter ended Dec. 31, 2007, compared with the same period in the previous year.
Revenue: $15.5 million, -7.0%
Net income: $35,000 vs. net loss of $513,000

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