TSR Inc reports Q1 financial results and announces smaller dividend for the quarter
Oct 13, 2008 (M2 EQUITYBITES via COMTEX) --
Company: TSR, Inc. (TSRI)
TSR Inc (Nasdaq: TSRI), a company that provides computer programming consulting services, reported on 10 October its financial results for the first quarter ended 31 August 2008. The company's net revenue for the first quarter was USD12.2m, a decrease of 10.2% when compared to USD13.5m for the same quarter of 2007. The consolidated net income fell 51.9%to USD215,000 (USD0.05 per diluted share), as against the net income of USD447,000 (USD0.10 per diluted share) in the first quarter of 2007. TSR's board of directors has declared a cash dividend of USD0.05 per share for the first fiscal quarter. The board decided to decrease the quarterly dividend from USD0.08 to USD0.05 per share with effect from the quarter ending 31 August 2008 in order to bring it more in line with current earnings. The board will re-evaluate the dividend if there is a continued decline in earnings, the company said. Shareholders of record as of 24 October 2008 will receive the dividend on 10 November 2008.
Comments on this story may be sent to admin@m2.com
Copyright (C) 2008 M2. All rights reserved
News Provided by COMTEX
Company: TSR, Inc. (TSRI)
Related terms: computer, consulting, dividend, earnings, financial results, nasdaq, programming
