Tsr Inc Stock Price, News & Analysis

TSR, a recognized IT staffing solutions provider, has entered into a definitive agreement to be acquired by Vienna Parent , an entity formed by BCforward founder Justin Christian.

Under the agreement, Vienna Sub, a wholly-owned subsidiary of Vienna Parent, will purchase all outstanding TSR shares for $13.40 per share, amounting to an equity value of approximately $29 million. This offer represents a 73.8% premium over TSR's closing price on May 14, 2024.

The transaction is expected to close in Q3 2024, subject to customary conditions, including a majority tender of TSR's shares. Vienna Parent has secured up to $24 million in credit from First Merchants Bank to finance the acquisition.

BCforward aims to enhance service offerings through this acquisition, leveraging TSR's established client base.

TSR, Inc. (NASDAQ: TSRI) reported a net income of $80,000 for Q3 FY23, contrasting with a net loss of $(47,000) in Q3 FY22. Revenue fell by 0.5% year-over-year to $24.3 million. Despite reduced revenue, the company achieved an operational income of $221,000, a significant turnaround from a loss of $(37,000) in the previous year. CEO Thomas Salerno highlighted the firm's focus on strategic business development and cost management as key drivers for profitability. TSR anticipates continued growth in revenue and income, supported by a strong balance sheet and a share buyback program.

TSR, Inc. (NASDAQ: TSRI) has announced the promotions of Yvette Fisher to Vice President, Director of Human Resources, and Denise Briggs Newman to Vice President, Director of Accounting. CEO Thomas Salerno commended their exemplary service, highlighting their combined 33 years of experience at TSR. They are recognized for their dedication to administering payroll for over 750 employees and consultants, enhancing client and employee experiences. Chairman Brad Tirpak and CFO John Sharkey expressed support for these promotions, emphasizing the importance of initiative and reliability within the company.

TSR, Inc. (NASDAQ: TSRI) reported a 9.1% increase in revenue to $26.0 million for Q2 FY22, alongside a 142% rise in income from operations to $1.1 million. Net income attributable to TSR was $674,000, or $0.30 per diluted share, up from $243,000 ($0.12 per share) in the previous year. The company initiated a share repurchase program in Q2 FY23, displaying confidence in its future. TSR attributes its success to strategic business development and a focus on high-margin permanent placements.