TSR, Inc. Reports Financial Results for the First Quarter Ended August 31, 2018.
Christopher Hughes, CEO, stated, “Our revenue decreased 2.7% for the first quarter reflecting a decrease in consultants on billing with customers and a higher discount plan put in place for a major customer. The overall average number of consultants on billing with customers decreased from 394 for the quarter ended August 31, 2017 to 389 for the quarter ended August 31, 2018, while the average number of computer programming consultants decreased from 341 in the quarter ended August 31, 2017 to 329 in the current quarter. The 389 consultants on billing for the current quarter include an equivalent 60 administrative workers, compared with an equivalent 53 administrative workers in the prior year quarter. While selling, general and administrative expenses decreased, they were higher than expected due to a significant increase in professional and advisory fees.”
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