Technology Solutions Co. reported fiscal fourth-quarter net income doubled to $5.2 million, or 29 cents per share, from $2.6 million, or 16 cents per share, in the year-earlier period, when fewer shares were outstanding.
The Chicago-based technology consulting services company, growing through acquisitions, said revenues for the quarter, which ended May 31, jumped 82 percent, to $51.1 million from $28.1 million.
For the fiscal year, net earnings surged 229 percent, to $15.1 million, or 85 cents per share, from $4.6 million, or 30 cents per share, in fiscal 1996, when two litigation settlement charges reduced profits from $6.5 million.
Revenues advanced by 69 percent, to $165.1 million from $97.6 million.
Directors approved a 3-for-2 stock split, effective Aug. 1 to shareholders of record July 10.
