CDI Corp. Posts Small Q4 Revenue Gain

February 26, 2014 – CDI Corp./(NYSE:CDI), a Philadelphia-based provider of IT-focused recruitment solutions, posted fourth quarter revenues of $277.1 million, an increase of 2.4 percent from revenues of $271 million a year ago. The company reported net income of $2.4 million, or $0.12 per diluted share, versus a net income of $5 million, or $0.25 per diluted share, last year. Management Recruiters International, Inc. (MRI) fourth quarter revenue decreased 10 percent to $14.6 million compared to the prior-year quarter, driven by declines in both contract staffing and royalty and franchise fee income. For the year ended December 31, 2013, CDI Corp. reported revenue of $1.088 billion, a 1.5 percent decrease from $1.105 billion reported in 2012. Net income in 2013 was $12.9 million, or $0.65 per diluted share, versus earnings of $19.1 million, or $0.97 per diluted share, in 2012. “Our government, non-program staffing and MRI businesses saw a significant decline in revenues,” said CDI president and CEO, Paulett Eberhart. “We are taking actions to build revenues in all our target verticals and to invest in both non-program staffing and MRI, as we realign the organization to improve operational effectiveness.”

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