GEE Group Inc. (NYSEAMERICAN: JOB) reported revenue fell 1.9% to $38.9 million in its fiscal second quarter ended March 31. The firm said IT contract staffing led staffing growth in the first quarter, but direct-hire revenue fell.
The company noted direct-hire revenue in 2022 was significantly higher because of a strong economy along with a post-Covid bounce in employment.
“Fiscal 2023 looks promising so far in light of economic conditions and despite the current and potential headwinds that lie ahead,” Chairman and CEO Derek Dewan said. “We intend to continue our philosophy and strategy of taking advantage of any and all opportunities we can to help our clients meet their human resource needs as we all continue to navigate this unprecedented time of socioeconomic change.”
Share price and market cap
Shares in GEE Group were down 3.36% to 48 cents as of 1:28 p.m. Eastern time; they were 35.35% above their 52-week low, according to FT.com. The company had a market cap of $57.2 million.