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TeamStaff Reports First Quarter Net Income and $0.7 Million Income Improvement From Continuing Operations Over Prior Year
Date:2/14/2008

SOMERSET, N.J., Feb. 14 /PRNewswire-FirstCall/ -- TeamStaff, Inc. (Nasdaq: TSTF), a national provider of healthcare and administrative staffing services, today announced its financial results for the first quarter ended December 31, 2007.

Income from operations for the three months ended December 31, 2007 was $0.1 million as compared to a loss of $0.8 million in the comparable quarter last year. Income from continuing operations was $0.04 million or $0.00 per share compared to a loss of $0.7 million or ($0.04) per share in the comparable quarter last year. It is the first time the Company has shown income from continuing operations since the first quarter of fiscal 2003. TeamStaff's revenues from continuing operations for the three months ended December 31, 2007 were $15.5 million as compared to $16.7 million in the comparable quarter last year.

Commenting on the Company's initiatives and performance, TeamStaff's President and CEO, Rick J. Filippelli, stated, "We continue to execute on our plan as evidenced by a $0.7 million income improvement in continuing operations from a year ago and the posting of net income in the first quarter. This was achieved despite the seasonal downturn we experience when many travelers choose not to take assignments between Thanksgiving and the New Year. The Company continues to increase its gross margins by a balance of price increases and prudent expense management. Additionally, SG&A costs decreased 22% from the comparable quarter in fiscal 2007 despite a 38% increase in sales and marketing expenses." Mr. Filippelli continued, "Recently, the Company redesigned its traveler, government and corporate websites. TeamStaff also renamed its government staffing subsidiary formerly known as RS Staffi
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SOURCE TeamStaff, Inc.
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