TSR, Inc. (TSRI) stock released financial results for the first quarter ended August 31, 2021, after which its increasing per-share price got more hype in the premarket. TSRI stock price saw a surge of 37.38% to reach $12.63 a share as of this writing. The stock was green in the last trading session and went up by 0.36% at closing.
TSR, Inc is the staffing company that runs its business by recruiting information technology professionals for project work, permanent placements, and long-term assignments.
First Quarter 2022 Financial Results:
- In the first quarter ended August 31, 2021, TSRI stock generated $22.9 million in revenue. This represents an increase of 57.5% from the same tenure of the previous year and an 8.5% increase from the previous quarter.
- TSR, Inc reported $6,402,000, or $3.18 per diluted share net income as compared to $3,000 net loss or less than $0.01 per share in the prior-year quarter.
- The stock suffered an operating loss of $355,000 for the reported quarter as compared to a $60,000 operating loss in the previous year’s quarter.
- The reported quarter also included $580,000 in charge regarding the settlement of litigation with its former CEO. Without this one charge, the operating profit for the TSR stock would have reached $ 225,000.
- Net income for TSRI stock reached $6,402,000 for the first quarter of 2021. This was mainly attributable to the forgiveness of principal and interest on its $6,735,000 SBA PPP loan.
Integration of Geneva and TSR teams:
The integration between TSRI stock’s teams and Geneva is going smoothly. TSRI stock is optimistic about this integration regarding its accelerated growth and improved returns for its shareholders. TSRI stock is upgrading and modernizing its several back-office systems in order to improve efficiency and expansion of the business.
A Comment on the Performance of the TSRI Team:
Though it was a very challenging time for TSRI stock and its team, the entire team worked tirelessly to deliver strong results. The whole team was resilient in tough times and developed a strong skill set. The company is now sensing that its team members are now in a position for the greater opportunity of success in a normalized market. As things are moving to normalcy from the COVID-19 pandemic, the company is optimistic about its revenue growth in the future.
Investors are responding positively to the recent release of the first-quarter financial results of TSRI stock. They believe that this stock has the potential to generate maximum profits for its shareholders. The management is also optimistic that TSRI stock will progress in terms of revenue in the future. Hence it can be a good bet for long-term investors.