TSR, Inc. Reports Financial Results for the Quarter Ended February 28, 2007 and Declares Quarterly Dividend of $0.08 Per Share.HAUPPAUGE, N.Y. -- TSR (Terminate and Stay Resident) Refers to a program that remains in memory when the user exits it in order that it be immediately available at the press of a hotkey. , Inc., (Nasdaq:TSRI TSRI The Scripps Research Institute TSRI Taiwan Sugar Research Institute ) a provider of computer programming consulting services, today announced financial results for the quarter ended February 28, 2007. For the quarter ended February 28th, revenues increased 1.5% from the same quarter last year to $11.8 million. Consolidated net income decreased 30.4% from the comparable period to $201,000. Additionally, earnings per share decreased to $0.04 from $0.06 per share. The Company also announced that the Board of Directors had declared a cash dividend of $0.08 per share for its third fiscal quarter. The dividend will be payable May 1, 2007 to shareholders of record as of April 16, 2007. Joe Hughes, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "The decrease in income from operations of 35% to $274,000 in the quarter ended February 28, 2007 resulted primarily from new and increased discount programs at major customers and the expenses associated with hiring additional account executives and technical recruiters to address increasing competition." "While the Company expects the settlement reached with the New York City Department of Education The New York City Department of Education is the branch of municipal government in New York City that manages the city's public school system. The school system these schools form is the largest system in the United States. Over 1. ("DOE") to be completed, the Company has determined not to continue negotiations with respect to an agreement which would have allowed the Company to continue to place consultants with the DOE. As a result, the DOE has advised the Company that the 11 remaining consultants will be terminated in the near future." Certain statements contained herein are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual results may differ materially from those set forth in the forward-looking statements due to known and unknown risks and uncertainties, including but not limited to those described in the Company's filings under the Securities Exchange Act of 1934. Based in Hauppauge, New York Hauppauge (pronounced /hɔpɔg/) is a hamlet in the Town of Islip and the Town of Smithtown in Suffolk County, New York, United States. , TSR, Inc., provides information technology professionals to major corporations. [TABLE OMITTED] |
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