Workstream Inc. (WSTM) Announces First Quarter Fiscal 2010 Results

Workstream Inc. (OTCBB: WSTM), provider of on-demand compensation, performance and talent management solutions and announced financial results for the first quarter ended August 31, 2009.

Revenues were $4.2M compared to $5.6M during the same period last year. EBITDA was $49,549, compared to nearly $1.5M during the same period last year. Net loss for the period, was $359,882 compared to $2,051,582 during the same period last year. Loss per common share for the quarter was $0.01 with approximately 57M weighted-average shares outstanding compared to a loss of $0.04with approximately 52M weighted-average shares outstanding during the same period last year.