TSR Inc.,HauppaugeProvider of computer programming consulting services
Net income: $101,000 compared in quarter ended Nov. 30, compared with $236,000 in the same period last year.
Revenue: $9.3 million compared with $11.5 million in the year-ago quarter.
Outlook: "The broad based economic downturn has had a serious impact on our bottom lineresults for the . . . Additionally, since any improvements appear to be slow and uncertain, we expect the economic conditions to continue to adversely affect earning throughout our fiscal year," chief executive Joe Hughes said.
Company statement: "The decrease in revenue resulted primarily from the average number of consultants on billing with customers decreasing from 281 for the quarter ended Nov. 30, 2008, to 222 for the quarter ended Nov. 30, 2009,'' which led to a 19 percent drop in the recent quarter compared to a year ago. Net income attributable to shareholders decreased [about] 63.6 percent as customers continue to cut IT spending, resulting in fewer consultants on billing and fewer opportunities to place consultants on new assignments."