Corporate Resource Services, Inc. Reports Earnings Results for the Second Quarter Ended July 5, 2013; Provides Earnings Guidance for the Third Quarter and Full Year of 2013
August 13, 2013 at 08:30 am
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Corporate Resource Services, Inc. reported earnings results for the second quarter ended July 5, 2013. The results for the quarter ended July 5, 2013, which included quarterly revenues of $199.2 million, an increase of 29.3% over the same quarter in 2012, while SG&A expense growth was limited to 0.3%. EBITDA for the quarter was $4.2 million and net income improved to $2.0 million, a record $4.3 million increase from the prior year. This is the fourth consecutive quarter of profitability for the company.
Based on preliminary results, the company expects revenues for the third quarter of fiscal 2013 to be between $205 and $215 million, its EBITDA to be between $5.0 million and $7.5 million, and its net income to be between $3.5 million and $4.0 million.
For the full year of 2013, the company now expects to achieve EBITDA of between $19.0 and $24.0 million and net income of between $10.0 and $11.5 million on revenues of approximately $825 to $855 million.
Corporate Resource Services Inc is a United States-based company. The Company provides cloud-based enterprise applications and hosting services to professional employer organizations (PEOs) and staffing companies, as well as diversified staffing, recruiting and consulting services. It offers recruitment services in the areas of insurance, information technology, accounting, legal, engineering, science, healthcare, life sciences, creative services, hospitality, retail, general business and light industrial work.
Corporate Resource Services, Inc. Reports Earnings Results for the Second Quarter Ended July 5, 2013; Provides Earnings Guidance for the Third Quarter and Full Year of 2013