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TSR Inc. (symbol: TSRI) is a relationship-based, customer-focused IT and technical services staffing company with over 40 years of industry experience. TSR Inc., along with its wholly-owned subsidiary, TSR Consulting Services, has earned the trust and respect of both large and small companies by providing well-refined candidate screening, timely placement, and a deep understanding of the skill sets required by clients. Our primary mission is to ensure that our clients succeed in the rapidly evolving, technology-based world by equipping them with the right tools and the most skilled technical personnel.
TSR Inc. specializes in providing contract computer programming services that complement the in-house IT capabilities of our clients. Our services span across various IT domains, including mainframe and mid-range computer operations, personal computing, client-server support, internet and e-commerce operations, voice and data communications, and help desk support. We offer both short-term and long-term staffing solutions tailored to the unique needs of our clients across multiple industries such as insurance, pharmaceutical and biotechnology, publishing and new media, financial services, and project utilities.
Our core services include IT staff augmentation and technology consulting. We are committed to being nimble and responsive, ensuring flexibility and accommodation in every interaction. As a financially sound public company, we continue to provide exceptional value to our clients by working diligently to meet their evolving IT staffing needs.
Stay informed with the latest updates and developments from TSR Inc. to understand our recent achievements and ongoing projects that showcase our commitment to excellence in the IT staffing industry.
TSR, Inc. (NASDAQ: TSRI) announced a strategic hire at its subsidiary, TSR Consulting Services, Inc., appointing Karen Levy, a seasoned industry leader and founder of Iprofs, LLC, to enhance its recruiting capabilities. With over 30 years of experience in IT staffing and a strong client satisfaction record, Levy aims to leverage TSR's advanced recruitment technologies. CEO Thomas Salerno expressed confidence that this move will bolster the company's growth trajectory and strengthen its position in the competitive IT staffing market.
TSR, Inc. (NASDAQ: TSRI) reported a 14.6% increase in revenue for Q1 FY22, reaching $26.2 million. However, net income fell to $495,000 or $0.22 per diluted share, down from $6.4 million or $3.18 per share in the prior year, which had benefited from a $6.7 million PPP loan forgiveness. Operating income improved to $755,000 compared to a loss of $355,000 last year. The company highlights strong demand and ongoing efforts to streamline processes while announcing a share buy-back program as a sign of confidence.
TSR, Inc. (TSRI) reported a 24.3% increase in revenue for Q4, totaling $26.2 million, compared to $21.1 million in Q4 of the previous year. The company shifted from a net loss of $46,000 to a net income of $331,000, equating to $0.15 per diluted share.
For the fiscal year ending May 31, 2022, revenue surged by 41.4% to $97.3 million, with net income reaching $6,929,000 or $3.30 per diluted share, significantly aided by a $6.7 million PPP loan forgiveness. TSR maintains a solid balance sheet with $6.5 million in cash and minimal debt.
TSR, Inc. (Nasdaq: TSRI) reported a significant revenue increase of 42.1% in Q3, reaching $24.4 million, up from $17.2 million a year earlier. The company reported a net loss of $47,000 or $0.02 per diluted share, improving from a net loss of $305,000 in the same quarter the previous year. TSR ended the quarter with a strong balance sheet, featuring over $6.4 million in net cash and minimal debt. Operational losses decreased significantly, indicating improved efficiency and a robust demand for staffing services, with expectations for ongoing annual growth.
TSR, Inc. (Nasdaq: TSRI) reported a 48.5% revenue increase in Q2 2021, reaching $23.9 million, up from $16.1 million in Q2 2020. The company achieved net income of $243,000, or $0.12 per diluted share, contrasting with a net loss of ($247,000) a year ago. TSR ended the quarter with a strong balance sheet featuring over $6.2 million in net cash and minimal debt. CEO Thomas Salerno highlighted persistent demand for staffing services, attributing growth to both new and existing clients.
TSR, Inc. (NASDAQ: TSRI) reported significant growth for the first quarter ending August 31, 2021, with revenues increasing by 57.5% from the previous year to $22.9 million. The company achieved a net income of $6.4 million, translating to $3.18 per diluted share, a turnaround from a net loss in the prior year. The increase is attributed to new business development and the acquisition of Geneva Consulting Group. However, TSR faced a one-time charge from litigation settlement affecting operating income, which was reported as a loss of $355,000.
TSR, Inc. (NASDAQ: TSRI) has successfully settled litigation with former CEO Christopher Hughes through mediation. Chairman Bradley M. Tirpak stated this settlement allows the company to focus on growth without the burden of costly litigation. Hughes expressed that resolving the matter through mediation avoids protracted legal battles. Further details will be available in a Form 8-K filing. The company also noted potential risks related to its business growth plans, competition, and external economic conditions, including those stemming from the COVID-19 pandemic.
TSR, Inc. (Nasdaq: TSRI) reported a 42.5% revenue increase in Q4 2021, totaling $21.1 million, but experienced a net loss of $46,000 or ($0.02) per share compared to a net income of $421,000 in Q4 2020. For the fiscal year, revenue rose 16.4% to $68.8 million, with a net loss of $601,000 or ($0.31) per share. Increased SG&A expenses by $1.3 million in Q4 due to upgrades and the acquisition of Geneva Consulting Group, affecting profitability. The company anticipates future growth post-COVID.
TSR, Inc. (Nasdaq: TSRI) announced that the Supreme Court of New York has approved a settlement in the stockholder class action case, Susan Paskowitz v. James J. Hill et al. The settlement originated from a lawsuit filed by stockholder Susan Paskowitz on October 16, 2018. The Court's final order, issued on May 24, 2021, fully approves the settlement and dismisses the case with prejudice. The payment for the settlement is expected to be covered by the Company's insurance provider.
TSR, Inc. (Nasdaq:TSRI) reported a 21.3% increase in revenue for Q3, ending February 28, 2021, totaling $17.1 million. The operating loss improved to $339,000 from $1,251,000 in the previous year. Net loss reduced to $305,000, with basic net loss per share at $0.16, down from $0.48. CEO Thomas Salerno attributed growth to business development in the Geneva Consulting Group. The acquisition of Geneva is expected to enhance growth and shareholder returns, with ongoing upgrades to back-office systems anticipated to boost efficiency.
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