Engineering and technology recruiter CDI Corporation has reported continuing ‘signs of a modest recovery’ in its results for the first quarter of the year.

The firm’s results reveal:

• net loss of $0.2m (£0.13m)
• revenue of $209.9m, down 8.2% year-on-year

President and chief executive Roger H Ballou says: “Signs of a modest recovery that we saw in the fourth quarter continued into the first quarter as our IT Solutions segment achieved year-over-year revenue growth of 12%.

“Additionally, permanent placement activity continued to improve on a sequential basis particularly in our Management Recruiters International segment as the domestic white collar employment market continued to recover.

“While we continued to see softness in some areas of our Engineering Solutions segment – particularly in the chemical, petrochemical and commercial aerospace markets as customer capital projects continued to be delayed – we did see an encouraging uptick in both engineering project bid activity and engineering staffing request-for-proposal (RFP) activity.”