04:38 PM EDT, 08/20/2024 (MT Newswires) -- Quisitive Technology Solutions ( QUISF ) on Tuesday said it swung to a second-quarter profit that depended on earnings from discontinued operations,

The IT-consulting company said it earned $7.45 million in the period, compared with a loss of $3.13 million in the year-prior quarter. The result included earnings from discontinued operations of $9.35 million. The company's loss from continuing operations narrowed to $1.9 million from $3.13 million.

Revenue from continuing operations eased to $29.62 million from $30.23 million.

"The decline was driven by reduced market demand within professional services revenue and the Company's corresponding reduction in revenue-generating headcount," Quisitive said in it release.

The company reiterated its 2024 guidance for revenue from continuing operations of around $125 million.

Quisitive shares closed down $0.005 to $0.32 on the TSX Venture Exchange.