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Command Center Inc. (OTCBB: CCNI) reported third-quarter revenue fell 8.8 percent year over year to $25.9 million at the Coeur d’Alene, Idaho-based industrial staffing provider.
The decline in revenue came amid a move to emphasize maximizing profitability, servicing quality accounts and limiting lower-margin work, according to the company.
“Lower quarterly revenue can also be attributed, in part, to reduced revenue coming from disaster recovery projects for the quarter, as the company is shifting away from large-scale disaster projects generally; notwithstanding there have been no major disasters nationwide in 2013,” according to Command Center.
Gross margin edged down to 25.8 percent in the third quarter from 25.9 percent in the year-ago quarter.
Third-quarter net income rose 70.1 percent to $1.2 million from $721,844 in the same quarter last year. The third quarter of this year included a deduction of a noncash charge of approximately $951,000 for warrant liability and depreciation.
Command Center (OTCBB: CCNI)
Results for the third quarter ended Sept. 27, 2013, compared with the same period last year.
Revenue: $25.9 million, -8.8 percent
Net income: $1.2 million, +70.1 percent