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Third-quarter revenue fell 8.2 percent at Analysts International Corp. (NASD: ANLY) to $26.5 million from $28.9 million in the third quarter of last year. Third-quarter gross margin at the Minneapolis-based information technology staffing and solutions provider narrowed to 21.0 percent from 25.0 percent in the year-ago quarter.
Analysts International reported a third-quarter net loss of $645,000 compared with net income of $1.8 million in the third quarter of last year.
“We are disappointed with the third quarter loss, which was primarily due to unanticipated project-related charges and bad debt write-offs,” said President and CEO Brittany McKinney. “We did not generate the income needed to offset these charges. Adjusting for these items, we would have reported revenue and profit for third quarter at the low end of our guidance range.”
Analysts International projects a year-over-year revenue decline of between 2 percent and 6 percent in the fourth quarter.
Analysts International Corp. (NASD: ANLY)
For the third quarter ended Sept. 29, 2012, compared with the same period in 2011.
Revenue: $26.5 million, -8.2 percent
Net Loss: $645,000 vs. net income of $1.8 million