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CDI Corp. Reports Fourth Quarter and Full Year 2011 Results

CDI Corp. News Release (02/28/12)

CDI Corp. today reported results for the fourth quarter and full year ended Dec. 31, 2011. For the fourth quarter, the company reported revenue of $268.0 million, an increase of 8.0% versus the year-ago quarter. CDI Corp. reported a fourth quarter net loss of $0.7 million, compared with a net loss of $14.9 million in the prior year quarter.

For the year, the company reported revenue of $1.060 billion, a 14.4% increase over $926.3 million reported in 2010. Net income in 2011 increased to $14.8 million, versus a net loss of $10.9 million in 2010. For the first quarter ending March 31, 2012, the company anticipates revenue increases in the range of 4% to 6% compared with the year-ago first quarter. Beginning in the first quarter 2012, CDI will report on three operating segments: Professional Services Staffing; Management Recruiters International Inc.; and Global Engineering and Technology Solutions.