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TeamStaff Reports Third Quarter Results
Date:8/14/2009

SOMERSET, N.J., Aug. 14 /PRNewswire-FirstCall/ --- TeamStaff, Inc. (Nasdaq: TSTF), a national provider of healthcare and administrative staffing services, today announced its financial results for the third quarter ended June 30, 2009.

TeamStaff's operating revenues for the three months ended June 30, 2009 were $13.1 million as compared to $15.8 million in the comparable quarter last year and $13.7 million in the prior quarter ended March 31, 2009. The decrease in operating revenues from the prior year is due primarily to the impact of the economic environment on the results of TeamStaff Rx coupled with reduced personnel requirements and overtime restrictions at certain Government facilities. Net loss was $0.5 million or ($0.11) per share compared to net income of $0.5 million or $0.11 per share in the comparable quarter last year and a net loss of $0.6 million or $(0.11) per share sequentially. Adjusted to eliminate profit from certain non-recurring retroactive billings in the third quarter of last year, the results for the three months ended June 30, 2008 would have been a net income of $0.3 million, or $0.05 per share.

Commenting on the Company's third quarter results, TeamStaff's President and CEO, Rick J. Filippelli, stated, "During the quarter, the current operating environment for the TeamStaff Rx subsidiary continued to follow the contraction in hospital spending. Declining hospital revenues and overall conditions in the credit markets have made hospital access to credit markets tougher. This in turn has forced hospitals to cut spending. Permanent hospital staff is willing to work more hours resulting in a reduction in the demand for temporary staffing. This contributed to a 44% decline in third quarter Rx revenues compared to the prior year period. Although
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SOURCE TeamStaff, Inc.
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Related medicine news :

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4. General Services Administration Awards Information Technology Schedule Contract to TeamStaffs Government Staffing Subsidiary
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6. TeamStaff, Inc. Reports Preliminary Second Quarter 2008 Results
7. TeamStaff, Inc. Announces Results From Annual Meeting of Shareholders
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10. TeamStaff Rx Awarded JCAHO Certification
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