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US - TSR revenue rises 8%, cites new hires

August 09 2013

TSR Inc. (NASD: TSRI), a Hauppauge, N.Y.-based information technology staffing provider, reported revenue rose 7.9 percent to $12.6 million in its fiscal fourth quarter ended May 31 compared with the year-ago quarter.

“Our revenue increase of 7.9 percent for the fourth quarter was the first sign of improved growth resulting from the efforts of our new hires in sales and recruiting,” said CEO Joe Hughes. The average number of consultants on billing with customers rose to 301 in the quarter from 266 in the year-ago quarter.

Fourth-quarter net income was $20,000 compared to a net loss of $31,000 in the year-ago period.

The company reported full-year revenue edged down 0.7 percent to $44.9 million in 2013 from $45.2 million in 2012.

Full-year gross margin narrowed to 16.4 percent from 16.5 percent in 2012.

TSR incurred a full-year net loss of $489,000, compared with a net loss of $12,000 in 2012. Hughes attributed the increase in net loss for the fiscal year to an increase of selling, general and administrative expenses associated with hiring and training recent college graduates as technical recruiters.

TSR Inc. (NASD: TSRI)
 For the fiscal fourth quarter ended May 31, 2013, compared with the same period in 2012.
 Revenue: $12.6 million, +7.9 percent
 Net Income: $20,000 vs. net loss of $31,000

For the fiscal full year ended May 31, 2013, compared with 2012.
 Revenue: $44.9 million, -0.7 percent
 Net loss: $489,000 vs. net loss of $12,000

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