CDI and Management Recruiters International Post Revenue Gains

October 29, 2010 – CDI Corp./(NYSE:CDI), a provider of IT-focused recruitment solutions, posted third quarter revenues of $249.4 million, an increase of 11.5 percent from revenues of $223.7 million a year ago. For the quarter ended September 30, 2010, net earnings were $1.7 million, or $0.09 per diluted share, versus a loss of $12.2 million, or $0.64 per diluted share, in the third quarter 2009. Third quarter 2010 revenue includes $14.9 million from the operations of L.R. Kimball which was acquired on June 28, 2010. Management Recruiters International, Inc. (MRI) revenue increased 28.8 percent versus the prior-year third quarter driven by increases in royalty and contract sales revenue somewhat offset by a decline in franchise sales. Operating profit more than doubled to $1.9 million versus the prior-year third quarter driven primarily by the increase in higher-margin royalty revenue. “We were pleased with the solid year-over-year revenue growth in the third quarter,” said Roger H. Ballou, president and CEO. “Continued robust growth in our IT Solutions segment — and in both royalty and contract staffing revenue in our Management Recruiters International segment — reflected ongoing strength in demand for skilled permanent placement and contingent professionals.”

Share This Article

RECOMMENDED ARTICLES

Leave a Reply

Be the First to Comment!

Notify of
avatar
wpDiscuz