Personnel Group Reports Falling Revenues, Net

Professional employer organization (PEO) and technology firm, Personnel Group of America, Inc. (OTCBB: PRGA), yesterday announced its results for the first quarter ended March 30, 2003. For the first quarter, total revenues were $120.7 million compared with $142.1 million in the first quarter last year. PGA's IT Services practice contributed $60.6 million, or 50.2%, of total revenues during the quarter, and the Company's Commercial Staffing business added $60.2 million, or 49.8%, of total revenues. Including certain restructuring and rationalization charges, PGA reported a net loss of $7.7 m...