TSR to explore strategic alternatives

TSR, Inc. announced that its Board of Directors has initiated a process to identify and evaluate potential strategic alternatives to maximize shareholder value. The company expects to consider a range of options, which may include a sale of or acquisitions by the company or a special dividend, as well as other potential alternatives. The company has retained Focus Investment Banking, LLC as its financial advisor and Shulman Rogers as its legal advisor to assist the Board in the evaluation process. Brad Tirpak, Chairman of TSR, said, “Over the last few years, TSR’s management and employees have orchestrated a phenomenal turn-around by providing best in class service to our existing and new customers. While transitioning from an enterprise generating losses to a solidly profitable company, TSRI has also built up a solid cash position and has an unused line of credit. We feel that TSR’s current stock price does not fairly represent the true value of the Company. That’s why we believe the best way to continue to maximize shareholder value is to explore our options, while remaining intensely committed to the satisfaction of our customers and employees.”