Intelligroup, Inc. (OTC BB: ITIG), an information technology and outsourcing services provider principally focused on enterprise resource planning (ERP) and extended ERP solutions, today announced operating results for its first quarter ended March 31, 2009. Intelligroup will host a conference call today at 10:00 a.m. EDT to review its financial results.
Revenues for Q1 '09 decreased 19.7% to $30.9 million, compared to $38.5 million in Q1 '08 and declined 17.3% compared to Q4 ’08. Despite declining revenues Intelligroup continued to actively manage its staffing levels and cost structure, generating a gross margin of 31.2%, versus 29.7% in the year ago period and 32.5% in Q4 ‘08. Q1 ’09 gross profit decreased 15.8% to $9.6 million compared to Q1 ’08 gross profit of $11.4 million and 20.6% compared to Q4 ’08 gross profit of $12.1 million.
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