MKTG Services Inc. reported net income of $157,706 for the first three months of fiscal 2003, compared with a net loss of $10.3 million during the 2001 quarter.
The relationship marketing company said revenue was $9.4 million, compared with revenue of $11.7 million for the like period last year.
Revenue for the quarter, which ended Sept. 30, increased by approximately $600,000 due to improved client billings, according to a company statement. That improvement excludes revenue from the sale of Grizzard Communications Group Inc.
The company noted a reduction in work force and a partial disposition of real estate as contributing to improving financial results. “We need to continue to move forward on lowering our cost structure while also working to increase our revenue,” said Jeremy Barbera, chairman and CEO of the New York relationship marketing company.
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