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Corporate Resource Services Inc. Reports 85% Increase in Revenues, Expects Profitability in 2013

Business Wire (01/16/13)

Corporate Resource Services Inc. reported results for the quarter and fiscal year ended Sept. 28, 2012, including record quarterly revenues of $179.7 million, an increase of 19.6% over the same quarter in 2011, which had been adjusted to include the results of an acquisition accounted for under the pooling of interests method. Quarterly revenues increased 81.2% prior to an adjustment. Full-year revenues increased 85.3% to $639.8 million. The company reported net income of $1.0 million for the quarter, its first profitable quarter since December 2011. A net loss of $3.4 million was reported for the full fiscal year. The company expects to achieve full-year 2013 net income of between $6.5 and $7.8 million on revenues of approximately $730 million to $780 million.