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US – CDI Revenue Rises 9%

May 08 2012

CDI Corp. (NYSE: CDI) reported first-quarter revenue rose 9.3 percent to $280.6 million from $256.6 million in the year-ago quarter. Professional services staffing revenue rose 12.2 percent in the first quarter to $181.7 million. Revenue growth was particularly strong in the oil, gas and chemical industries, according to CDI.

At Management Recruiters International, CDI’s franchise recruiting segment, revenue rose 12.2 percent as well in the first quarter to $17.6 million.

First-quarter global engineering and technology solutions revenue rose 2.9 percent to $81.3 million.

CDI’s first-quarter gross margin slipped to 19.8 percent from 21.2 percent in the year-ago quarter.

The company reported first-quarter net income of $3.8 million, up from $694,000 in the year-ago quarter.

CDI expects second-quarter revenue to rise between 5 percent and 7 percent compared to the second quarter of 2011.

For the first quarter ended March 31, 2012, compared with the same period in the previous year.
Revenue: $280.6 million, +9.3 percent
Net income: $3.8 million vs. $694,000


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