News

IT service provider reports revenue down in Q1

August 14, 2003

BUFFALO, N.Y. -- Barrister Global Services, with services that range from IT equipment maintenance to deploying new point-of-sale and kiosk services for retailers, reported revenue dipped in the first quarter of fiscal year 2004, ended June 30, 2003.

Revenues decreased about 6.9 percent to $2.8 million compared to $3.1 million for the comparable quarter last year. Revenues from hardware maintenance contracts decreased 27.3 percent for the quarter to $1.6 million from $2.2 million for the first quarter of the prior year.

This reduction primarily resulted from the non-renewal of a large contract by a customer of a long-time business partners as of September 30, 2002, and replacement of traditional break/fix maintenance contracts with new lower priced services, according to a news release.

This decrease was partially offset from growth in services provided on a time and materials basis, which increased by 54 percent for the comparative first quarters. The company expects de-listing from the American Stock Exchange, the release said.