IT staffing firm TSR Inc. (NASD: TSRI) reported revenue rose 19.5% year over year to $14.5 million in its fiscal second quarter ended Nov. 30. The Hauppauge, N.Y.-based firm reported net income attributable to TSR increased to $141,000 from $32,000 in the prior-year quarter.
The increase in revenue resulted primarily from an increase in the average number of consultants on billing with customers. This number rose to 354 from 306 in the year-ago quarter, according to CEO Joe Hughes.
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“We anticipate a continued increase of selling, general and administrative expenses,” Hughes said. “These increased expenses are associated with the hiring of additional recruiters and the increase in expenses associated with the hiring of new sales professionals. Although we are experiencing a gradual increase in revenue, profitability will continue to be affected until such time as these new sales and recruiting hires contribute to a sufficient increase in revenue.”
Revenue
| Q2 2014 ($000s) | Q2 2013 ($000s) | % growth | |
| Revenue | $14,534 | $12,166 | 19.5% |
Net income
| Q2 2014 ($000s) | Q2 2013 ($000s) | |
| Net income attributable to TSR | $141 | $32 |
