Analysts International, an IT services company, has reported a net loss of $7.6m, or $0.3 per diluted share, for the fourth quarter of 2008, compared to a net loss of $13.01 million, or $0.52 per diluted share, for the same quarter of 2007.
For the fourth quarter of 2008, revenues were $56.8m, compared to $87.8m for the same quarter of 2007.
For the fiscal 2008, revenues were $284.2m, compared to $359.7m in 2007. Net loss for fiscal 2008 was $10.13m, or $0.41 per diluted share, compared to a net loss of $16.21 million, or $0.65 per diluted share, for the fiscal 2007.
Elmer Baldwin, president and CEO of Analysts International, said: 2008 represented the first year of AIC’s business transformation. As such, we made solid progress on our plan to transform AIC into a value-driven, higher margin IT services company. While the challenging economic environment has slowed our ability to realize the benefits of our transformation, we remain firmly committed to realizing that vision today.
Our objective for 2009 is to continue to focus our business, reduce expenses and drive growth in our higher-margin services business by delivering value and exceeding clients’ expectations each and every day.
