TSR Inc. (TSRI), the information technology consulting and recruiting services provider, surged over 50% on Tuesday after it announced its Q2 earnings on Monday.
The financial results for the second quarter ended on November 30, 2021, were reported on Monday. The revenue for the company increased by a whopping 48.5% over the previous year’s second quarter, while the balance sheet also looked positive with more than $6.2 million net cash.
The revenue increased to $23.9 million compared to $16.1. million in the last year’s second quarter. Net income to TSR Inc. (TSRI) for the current quarter was $243,000 that is $0.12 per share (diluted). Last year, the company had reported a loss of $0.13 per share (diluted).
The company now has a debt of less than $50,000; as a result, it has a net cash excess of $6.2 million or $3 per share.
“The demand for staffing services remained robust in the quarter. Our revenue increased 48.5% for the second quarter due to organic growth from new and existing customers. Operating income for the current quarter was $415,000 as compared to an operating loss of $223,000 in the prior year quarter. If our current trends continue, we expect operating income to continue to grow as we leverage selling, general and administrative expenses.” Thomas Salerno, CEO, TSR Inc., stated.
With a market capitalization of 24.742 million, TSRI stock trades at $12.49, up 3.55 points (+39.72%) as of 9:42 am EST. Previously, the market had closed at $8.94, and the stock has peaked at $18.73.
The stock has also dipped to $6.20, but its current trading volume is around 250 times greater than its average trading volume. The current trading volume of the stock is 21,315,704, while the average trading volume of the TSRI stock is 84,361.
According to some reports, the stock has also become an insider’s favorite.