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CDI Corp. Reports Fourth Quarter and Full Year 2012 Results

CDI Corp. News Release (02/26/13)

CDI Corp. today reported net income of $5.042 million for the quarter ended Dec. 31, 2012, compared with a net loss of $618,000 reported for the same period in 2011. The company also reported net income of $19.1 million for the year ended Dec. 31, 2012, a 23.7% increase over the net income of $14.8 million reported for 2011. CDI also reported revenue of $271 million for the quarter, up 1% from the year ago quarter, and $1.105 billion for the year, up 4.3% from 2011. The 2011 fourth quarter results included a restructuring charge of $8.1 million related to the company’s strategic plan announced in December 2011.

The company’s professional services staffing segment reported a 3.5% revenue increase in the fourth quarter to $174.9 million when compared with the prior-year quarter. For the full year 2012, PSS revenue rose 6.4% to $710.3 million.