DLH Holdings Corp. (NASD: DLHC), a provider of healthcare and logistics staffing and services to the federal government, reported revenue rose 6.7 percent to $13.5 million in its fiscal third quarter ended June 30 from $12.6 million in its third quarter of 2012.
Gross margin at the Atlanta-based company improved to 14.7 percent from 12.6 percent in the same quarter last year.
DLH reported net income of $68,000 in the third quarter compared with a net loss of $568,000 in the year-ago quarter. The third quarter in the previous year included $236,000 in severance costs.
“Our third quarter met our overall goals and expectations, and we are pleased to report that the company has posted positive net income for the quarter in addition to continued revenue growth,” said President and CEO Zach Parker. “We believe that our third consecutive quarter of positive adjusted EBITDA is indicative of a sustainable trend. We further believe that the markets we have targeted will enhance our ability to weather the government sequestration issues.”
The company received notices from Nasdaq in both January and May that it is out of compliance with listing rules because the closing bid price per share of its common stock for 30 consecutive days fell below the $1 minimum bid price required for continued listing on Nasdaq. It has until Oct. 30 to regain compliance by sustaining a closing bid price of at least $1 per share for a minimum of 10 consecutive business days.
DLH Holdings Corp. (NASD: DLHC)
For the third quarter ended June 30, 2013, as compared with the year-ago period.
Revenue: $13.5 million, +6.7 percent
Net Income: $68,000 vs. net loss of $568,000