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First-quarter net income at TechTeam Global Inc. (NASD: TEAM) rose to $1.7 million, up 87.1% from $904,000 in the same period last year.
Revenue at the Southfield MI-based information technology services and staffing company rose to $66.0 million in the first quarter, up 42.8% from $46.2 million in the first quarter of last year. However, revenue would have risen 20.6% excluding three acquisitions made in 2007, according to TechTeam Global.
Gross margin slipped to 24.9% from 25.1%.
TechTeam Global Inc. (NASD: TEAM)
For the first quarter ended March 31, 2008, compared with the same period in 2007.
Revenue: $66.0 million, +42.8%
Net income: $1.7 million, +87.1%