IT staffing provider TSR reports revenue up nearly 58% in fiscal Q1

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October 14, 2021

IT staffing provider TSR Inc. (NASDAQ: TSRI) reported revenue rose 57.5% year over year in its fiscal first quarter ended Aug. 31. A combination of new business development, TSR’s acquisition of Geneva Consulting Group Inc. and organic growth drove the increase, said CEO Thomas Salerno.

(US$ thousands) Q1 2022 Q1 2021 % change
Net revenue $22,866 $14,514 57.5%
Gross margin  16.7% 16.1%  
Net income/net loss $6,402 ($3,000) nm

TSR continues to expect a gradual return to normalcy from the pandemic with guarded optimism of continued revenue growth.

The integration of the Geneva and TSR teams has gone smoothly, Salerno said, adding that TSR is also in the process of upgrading and modernizing several of its back-office systems.

Share price and market cap

Shares in TSR were up 4.97% to $9.65 as of 12:37 p.m. Eastern time; they were 105.32% above their 52-week low, according to The company had a market cap of $18.0 million.

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