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TSR Inc. Reports Financial Results for the Second Quarter Ended Nov. 30, 2019

TSR Inc. reported revenue of $15.2 million for the second quarter ended on Nov. 30, 2019, down 7.1% from $16.4 million in the same quarter in 2018. The company reported net income of $62,000, compared with a net loss of $97,000 in the year-ago quarter.

Christopher Hughes, chief executive officer, said, “The revenue decrease was due to a decrease in average billing rates for information technology consultants on billing with customers resulting from a shift in business mix with fewer placements for high end skills across the customer base.” Selling, general, and administrative expenses decreased by $496,000 due to a decrease in professional and advisory fees of $393,000 in connection with the settlement of various lawsuits and the contested proxy solicitation relating to the company’s 2018 annual meeting, which had been rescheduled and was held on Oct. 22, 2019.