Analysts International Corp. Reports Operating Results (10-Q)

Author's Avatar
Nov 03, 2011
Analysts International Corp. (ANLY, Financial) filed Quarterly Report for the period ended 2011-10-01.

Analysts International Corp. has a market cap of $18.4 million; its shares were traded at around $3.68 with a P/E ratio of 9 and P/S ratio of 0.2.

Highlight of Business Operations:

On March 3, 2010, AIC sold certain customer contracts, property and equipment and sublet a facility lease. In consideration for the assets sold and the liabilities transferred, the Company received $0.2 million in cash. The Company recorded a loss on the sale of approximately $50,000 which is included within Selling, administrative and other operating costs (SG&A) in our Consolidated Statement of Operations. For the preceding 12 months before the sale date, the customer contracts generated revenues of approximately $3.2 million and had an unfavorable contribution margin of approximately $0.7 million.

SG&A costs include management and administrative salaries, salaries and commissions paid to account executives and recruiters, benefits, location costs and other administrative costs. This category of costs decreased approximately $0.4 million from the comparable period in 2010 and represented 18.7% of revenue for the third quarter of fiscal 2011 compared to 22.2% in fiscal 2010. In the third quarter of

Our revenues increased $0.7 million, or 0.8%, from the first nine months of fiscal 2010. When compared to the prior year period, our average billing rates increased 2.6%; however, the increase in our average billing rates was partially offset by a 1.3% decline in the number of billable hours.

SG&A costs include management and administrative salaries, salaries and commissions paid to account executives and recruiters, benefits, location costs and other administrative costs. This category of costs decreased approximately $2.4 million from the comparable period in 2010 and represented 20.5% of revenue for the first nine months of fiscal 2011 as compared to 23.6% in fiscal 2010. In the first nine months of fiscal 2011, SG&A expenses declined as a result of previously implemented general expense reductions ($1.2 million), lower

Our total current assets increased approximately $3.2 million at October 1, 2011 compared to the end of fiscal 2010 primarily as a result of increased Accounts receivable balances and an increase in cash. Our Accounts receivable balance increased 11.5% as a result of a 13.9% increase in our revenues during the third quarter of fiscal 2011 over the fourth quarter of fiscal 2010 which was partially offset by a decline in our days sales outstanding from 63 days at the end of fiscal 2010 to 59 days at October 1, 2011.

Read the The complete Report