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.