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TechTeam profit rises 50%

February 20 2008

Fourth-quarter net income at TechTeam Global Inc. (NASD: TEAM) rose 50.2% to $1.8 million from $1.2 million in the fourth quarter of the previous year.

Revenue for the quarter increased 46.6% to $64.3 million from $43.9 million in the same period in 2006. TechTeam, however, said revenue rose only 17.6% excluding acquisitions. The company also reported a $2.0 million boost because of favorable foreign exchange rates.

Gross margin for the Southfield MI-based information technology services and staffing company slipped to 24.9% in the fourth quarter from 25.1% in the same period in the previous year.

Full-year 2007 net income rose 243.3% to $6.3 million from $1.8 million in 2006. Revenue rose to $222.2 million, up 32.8% from $167.4 million in 2006. Gross margin improved to 25.6% from 24.2%.

TechTeam Global Inc. (NASD: TEAM)
For the fourth quarter ended Dec. 31, 2007, compared with the same period in 2006.
Revenue: $64.3 million, +46.6%
Net income: $1.8 million, +50.2%

For full-year 2007 ended Dec. 31, 2007, compared with the previous year.
Revenue: $222.2 million, +32.8%
Net income: $6.3 million, +243.3%

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