COMFORCE Corp. says new accounts will power growth
Executives of COMFORCE Corp. (Amex: CFS), a provider of outsourced staffing management services, said the company’s Human Capital Management Services segment, which consists of the company’s staffing solutions Pro Unlimited subsidiary, propelled quarterly growth. During the quarter, Fanning said the company also added three accounts that will contribute more than a $1 million each in gross profit.
“Pro Unlimited continues to lead our sales growth by posting a 10.1% increase in revenues for the quarter” ended July 1, CEO John Fanning said during the call. “We remain optimistic concerning our company’s prospects for the balance of 2007.”
The company’s Human Capital Management Services segment recorded a gross profit during the second quarter of $12.3 million, compared with $10.7 million in the year-ago period, Bob Ende, senior vice president of finance, said during the call.
Before the opening bell, COMFORCE reported second-quarter revenue of $149.7 million, compared with $143.6 million in the year-ago period. For the three months, the company recorded a gross profit of $23.3 million, compared with $22.2 million during the same period of 2006. The company announced a net income of $1.1 million, or $0.03 per share, compared with $1 million, or $0.03 per share, a year earlier.
At the end of the second quarter, CFO Harry Maccarrone said the company’s public debt was $12.9 million, down from $138.8 million in June 2000.
In today’s trading, shares of the small-cap company fell $0.20, or 7.55%, to $2.45. Over the last 52 weeks, shares have ranged between $2 and $2.98.
