Earnings out!!!
Thursday October 1, 8:07 am Eastern Time
Company Press Release
TSR, Inc. Reports Record Fiscal 1999 First-Quarter
Financial Results
HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Oct. 1, 1998--TSR, Inc., (Nasdaq:TSRI - news) a provider of computer
programming consulting services, today announced financial results for the fiscal 1999 first quarter ending August 31, 1998.
Revenues and earnings per share for the quarter, which were quarterly records, showed strong improvement over the
year-ago period. This is the eleventh straight quarter of year-over-year revenue and earnings growth.
For the first quarter, which ended August 31, 1998, revenues were $20.5 million, a 30 percent increase from $15.8 million
for the same quarter last year. Net income more than doubled to $1.1 million, or $0.18 per share (diluted), from last year's
net income of $469,000, or $0.08 per share.
Joseph Hughes, Chairman stated, ''We are pleased with the Company's continued sales and earnings growth. Demand for our
IT solutions remains strong and we continue to experience improved profitability. We also benefited this quarter from profits
from our Year 2000 business, which had incurred a loss in last year's first quarter. We expect the anticipated reduction in
business activity from this business will be more than offset by solid revenue and earnings growth from our main business,
providing information technology professionals to major institutions.''
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 and state
and local governments. |
