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TSR revenue falls, posts loss

April 09 2013

TSR Inc. (NASD: TSRI), a Hauppauge, N.Y.-based information technology staffing provider, reported revenue fell 5.2 percent to $10.5 million in its fiscal third quarter ended Feb. 28, compared with the year-ago period.

“Revenue for the quarter decreased despite a small increase in contractors on billing with customers,” said CEO Joe Hughes, citing “a combination of reduced average billing rates for the contractors on billing with customers and a lower number of billable workdays in the current quarter as compared with the prior-year quarter.”

A shift in the business mix contributed to the reduced billing rates, he said, “as a higher percentage of new placements have been with customers where there is stronger competition due to managed vendor services programs.”

Net loss for the third quarter was $ 255,000 compared to net loss of $93,000 in the year-ago period.

TSR Inc. (NASD: TSRI)

For the fiscal third quarter ended Feb. 28, 2013, compared with the same period in 2012.

Revenue: $10.56 million, -5.2 percent

Net loss: $255,000 vs. net loss of $93,000

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