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Analysts revenue falls, attrition from market exits cited

May 10 2013

First-quarter revenue fell 8.1 percent at Analysts International Corp. (NASD: ANLY) to $24.6 million from the first quarter of last year. “Revenue in the first quarter was down year-over-year due primarily to the continued attrition in markets we exited and the loss of a major account last year,” said President and CEO Brittany McKinney.

However, McKinney said the company saw double-digit growth in strategic account and that he believes the second quarter will be a turning point in revenue trajectory.

Gross margin at the Minneapolis-based IT services firm narrowed to 22.7 percent in the first quarter from 23.9 percent in the year-ago quarter.

Net income rose 15.7 percent to $229,000 from $198,000 in the first quarter of last year.

Analysts International Corp. (NASD: ANYL)
 For the first quarter ended March 30, 2013, compared to the same period in the previous year.
 Revenue: $24.6 million, -8.1 percent
 Net income: $229,000, +15.7 percent

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