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Green Planet’s Staffing Revenue Drops 9%

August 15 2011

The Green Planet Group (OTCBB: GNPG.OB) reported first-quarter staffing revenue fell 9.4 percent to $8.8 million in the quarter ended June 30, compared with $9.7 million in the 2010 period. An energy conservation company, Green Planet Group bought the Lumea staffing brand in 2009.

The company reported a net loss from its staffing business of $1.0 million, an improvement over the loss of $1.3 million in the prior-year period. 

Total second-quarter revenue at Green Planet, including all divisions, was $9.1 million, down 9.2 percent from the year ago quarter. Second-quarter gross margin was 14.8 percent, down from 15.4 percent. And the company posted a net loss of $1.7 million compared to a net loss of $2.0 million in the year-ago quarter.

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