CDI Corp sees revenues rise

Revenues have risen by 22% at CDI Corporation, according to the international engineering and technology recruiter’s results for Q1 2011.

The group’s results reveal:

Revenues have risen by 22% at CDI Corporation, according to the international engineering and technology recruiter’s results for Q1 2011.

The group’s results reveal:

· Revenue of $256.6m (£155m), representing growth of 22.2% compared to the prior-year first quarter and sequential quarterly growth of 3.5%

· CDI Engineering Solutions (ES) and CDI IT Solutions (ITS) show strong performance with year-over-year revenue growth of 25.6% and 39.0%, respectively. Revenue increases sequentially 6.3% in ES and is essentially flat in ITS.

· Management Recruiters International (MRI) reports 9.3% revenue growth compared to the prior year

first quarter and 0.5% sequential quarterly decline in revenue

· CDI AndersElite (Anders) revenue decreases 36.3% compared to the prior-year first quarter but shows some signs of improvement with 5.5% sequential quarterly growth

· pre-tax operating profit of $2.8m

President and chief executive Paulett Eberhart says: “We continue to ensure that CDI has the appropriate resources in place to allow the company to take full advantage of an economy that is showing improvement. Additionally, we are focused on building our core capabilities to enhance our ability to compete successfully for and deliver higher-margin solutions to our blue chip customer base.”

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