Computer programming consultancy TSR Inc. (TSRI: Quote) Tuesday reported a third quarter loss that widened from last year, due mainly to higher sales cost and operating expenses.
Third-quarter net loss attributable to TSR widened to $93 thousand or $0.05 per share from $67 thousand or $0.03 per share in the prior-year quarter.
Net revenues increased 18.3 percent to $11.1 million from $9.4 million last year.
Operating expenses increased to $11.2 million from $9.5 million last year. Third quarter loss was also driven by a $53 thousand expense on tax.
Joe Hughes, chief executive officer of TSR Inc., stated, "The increase in the net loss was primarily attributable to an increase of cost of sales as a percentage of revenue and also to the increased expenses associated with hiring and training junior technical recruiters."
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by RTT Staff Writer
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