CDI Corp. News Release (03/03/15)
CDI Corp. reported revenue of $266.7 million for the fourth quarter of 2014, down 3.8% from $277.1 million in the fourth quarter of 2013, and $1.123 billion for all of fiscal 2014, up 3.2% from $1.088 billion in fiscal 2013. The company reported a net loss of $8.8 million for the fourth quarter, compared with net income of $2.4 million in the year-ago quarter, and net income of $2.1 million for the year, compared with net income of $12.9 million in fiscal 2013. The company recorded $18.2 million in impairment and restructuring-related charges for the quarter.
The company’s Global Engineering and Technology Solutions segment reported $80.5 million in revenue for the fourth quarter of 2014, down 1.7% from $81.8 in the fourth quarter of 2013. For the full year, GETS revenue rose 4.4% to $335.4 million. The staffing services segment reported revenue of $171.4 million for the 2014 fourth quarter, down 5.2% from $180.7 million in the 2013 fourth quarter, and $728.7 million for fiscal 2014, up 2.8% from $708.6 million in fiscal 2013. Its Management Recruiters International Inc. segment reported revenue of $14.8 million in the 2014 fourth quarter, up 1.8% from $14.6 million in the 2013 fourth quarter, and $58.9 million for fiscal 2014, up 1.6% from $58 million in fiscal 2013.
Exclusive Guide to Factoring for Staffing Companies
Whether your firm needs working capital to hire new talent, maximize a marketing opportunity, or extend client payment terms, factoring allows staffing companies to convert unpaid invoices into cash today. Download now to get answers to the top 10 questions related to accessing working capital via invoice financing.