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TechTeam up 8.5% in 3Q08

October 31 2008

TechTeam Global, Inc. (NASD: TEAM), a provider of information technology staffing, enterprise support and business process outsourcing services, reported revenue of $64.2 million for the quarter ended Sept. 30, up 8.5% from the same period in 2007.

Net income for the quarter was $1.9 million, down 9.5% from the net income of $2.1 million generated in the same quarter last year. The company's gross margin of 25.2% in the third quarter of 2008 declined from 26.4% over the same period last year.

Revenue from the company's commercial business increased 10.9% over the third quarter of last year to $42.2 million and revenue from the company's government business increased 4.1% to $22.0 million. The company's core commercial IT outsourcing business grew 17.5% over the third quarter last year.

Total commercial revenues in the Americas increased to $17.3 million, or by 0.4%, for the third quarter of 2008 over the same period in 2007. Revenue growth in the Americas occurred in both IT outsourcing and IT consulting and systems integration services. Revenue from Europe increased 19.6% to $24.9 million over the same period.  

TechTeam Global Inc. (NASD: TEAM)
For the third quarter ended Sept. 30, 2008,
compared with the same period in 2007.
Revenue: $64.2 million, 8.5%
Net income: $1.9 million, -9.5%

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