CDI Corp. Posts 8 Percent Revenue Decline; MRI Down 1.8 Percent

May 4, 2010 – CDI Corp./(NYSE:CDI), a Philadelphia-based provider of IT-focused recruitment solutions, posted first quarter revenues of $209.9 million, a decrease of 8.2 percent from revenues of $228.7 million a year ago. During the quarter, the company reported a net loss of $0.2 million, or one cent per diluted share, versus a net loss of $0.9 million, or five cents per diluted share, in the prior-year first quarter. Operating unit Management Recruiters International revenue declined 1.8 percent, while U.K.-based CDI AndersElite (Anders) revenue fell 23.1 percent compared to the prior year. “Signs of a modest recovery that we saw in the fourth quarter continued into the first quarter as our IT Solutions segment achieved year-over-year revenue growth of 12 percent,” said Roger H. Ballou, president and CEO. “Additionally, permanent placement activity continued to improve on a sequential basis particularly in our Management Recruiters International segment as the domestic white collar employment market continued to recover.”

Share This Article


Notify of
Inline Feedbacks
View all comments