Daily News

View All News

TSR Revenue Rises 14% in Fiscal Q2

January 11, 2012

Revenue rose 13.9 percent year over year at TSR Inc.  (NASD: TSRI) to $11.1 million in its fiscal second quarter ended Nov. 30, 2011. But the Hauppauge, N.Y.-based information technology staffing provider reported expenses rose faster than revenue.

CEO Joe Hughes said the increase in revenue came as the average number of consultants on billing with clients rose to 265 from 232 in the year-ago quarter.

However, second-quarter net income fell to $39,000, down 77.7 percent from $175,000 in the year-ago quarter.

“Although revenue increased, expenses continue to increase at a greater rate than revenue due to increased recruiting and other costs resulting from more demanding client specifications, pricing and other competitive pressures, as well as increased costs relating to training entry level recruiters,” Hughes said.

“The turmoil in the world economy, particularly the effects on financial institutions, has shown there is still significant uncertainty in the economic environment,” he said. “Negotiating the business through these uncertain times has been and will continue to be a challenge.”

TSR Inc. (NASD: TSRI)
For the fiscal second quarter ended June 30, 2011, compared with the same period in the previous fiscal year.
Revenue: $11.1 million, +13.9 percent
Net income: $39,000, -77.7 percent