TSR, Inc. (TSRI) - 500 Beiträge pro Seite

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Profile:TSR, Inc. and its subsidiaries provide contract computer programming services to commercial customers, and state and local government agencies located primarily in the Metropolitan New York area, New England, and the Mid-Atlantic region. It offers staffing services in the areas of mainframe and mid-range computer operations, personal computers and client-server support, Internet and e-commerce operations, voice and data communications, and help desk support. The company provides its services principally through offices located in New York, New York; Edison, New Jersey; and Long Island, New York. The company was founded in 1969 and is based in Hauppauge, New York.

http://www.tsrconsulting.com/

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TSR, Inc. Reports Financial Results for the Quarter Ended November 30, 2006, Announces Appointment of President of Subsidiary, and Declares Quarterly Dividend of $ 0.08 Per Share
Thursday January 4, 5:00 pm ET


HAUPPAUGE, N.Y.--(BUSINESS WIRE)--TSR, Inc., (Nasdaq:TSRI - News) a provider of computer programming consulting services, today announced financial results for the quarter ended November 30, 2006.

For the quarter ended November 30th, revenues increased 6.7% from the same quarter last year to $12.6 million. Consolidated net income decreased 14.7% from the comparable period to $413,000. Additionally, earnings per share decreased to $0.09 from $0.11 per share.

The Company announced that Christopher Hughes was appointed President of its main operating subsidiary, filling a position that had been vacant for over a year. In addition he was elected as Senior Vice President of the Company, a newly created position.

The Company also announced that the Board of Directors had declared a cash dividend of $0.08 per share for its second fiscal quarter. The dividend will be payable February 5, 2007, to shareholders of record as of January 22, 2007.

Joe Hughes, CEO, stated, "The decrease in income from operations of 26% to $565,000 in the quarter ended November 30, 2006 resulted primarily from new and increased discount programs at major customers and the expenses associated with hiring additional account executives and technical recruiters to address increasing competition. Increased interest income and a decreased effective income tax rate offset, to some extent, the decrease in net income."

"I am delighted to announce the promotion of Christopher Hughes to President of TSR Consulting Services, Inc. Christopher Hughes brings a great deal of experience to his new position and will be working diligently to accelerate the growth of the Company."

Certain statements contained herein are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those set forth in the forward-looking statements due to known and unknown risks and uncertainties, including but not limited to those described in the Company's filings under the Securities Exchange Act of 1934.

Based in Hauppauge, New York, TSR, Inc. provides information technology professionals to major corporations.

Three Months Ended Six Months Ended
November 30, November 30,
(unaudited) (unaudited)
2006 2005 2006 2005
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Revenues $12,626,000 $11,829,000 $25,002,000 $24,294,000

Operating expenses 12,061,000 11,061,000 23,809,000 22,741,000
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Income from
operations 565,000 768,000 1,193,000 1,553,000

Other income 104,000 62,000 199,000 114,000
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Pre-tax income 669,000 830,000 1,392,000 1,667,000

Income taxes 256,000 346,000 536,000 709,000
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Net income $ 413,000 $ 484,000 $ 856,000 $ 958,000
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Basic and diluted
net income per
common share $ 0.09 $ 0.11 $ 0.19 $ 0.21
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Weighted average
basic common
shares outstanding 4,568,000 4,568,000 4,568,000 4,568,000
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Weighted average
diluted common
shares outstanding 4,568,000 4,568,000 4,568,000 4,568,000
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Contact:
TSR, Inc.
John Sharkey, 631-231-0333

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Source: TSR, Inc.