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US – Corporate Resource Revenue Up 18%

May 15 2012

Revenue rose 17.5 percent at Corporate Resource Services Inc. (OTCBB: CRRS.OB) to $144.1 million in its fiscal second quarter ended March 3, 2012, from $122.6 million in the second quarter of the previous year, according to a filing with the U.S. Securities and Exchange Commission. Revenue in the second quarter of the previous year was restated to include $45.9 million in revenue that came from the acquisition of a related firm, TSS Corp.

Gross margin narrowed to 11.0 percent in the first quarter from 13.1 percent in the year-ago quarter.

Corporate Resource Services posted a net loss of $3.05 million in the second quarter compared with a net loss of $1.4 million in the same period last year.

The New York-based staffing provider has 109 offices, according to the filing. It provides light industrial, office/clerical and insurance industry-related staffing.

Corporate Resource Services Inc. (OTCBB: CRRS.OB)
For the three months ended March 30, 2012, compared with the same period a year ago.
Revenue: $144.1 million, +17.5 percent
Net loss: $3.1 million vs. net loss of $1.8 million

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