Net revenue decreased by about 15% to $1.7 billion for the fiscal year, down from $2.0 billion last year. The change was primarily driven by a 16% decrease in staffing services revenues, which decreased approximately $300 million, versus last year, to $1.6 billion, and because this year consisted of 52 weeks, while last year had 53 weeks. Operating results for the full-year of 2014 were $4.8 million, an improvement of $12.1 million from a loss recorded last year, and pro-forma results improved $15.4 million to $2.1 million. Operating income and pro-forma operating income for the full-year included restatement, investigations and remediation expenses of $5.3 million, restructuring cost of $2.5 million and a $1.0 million cost in our workers compensation program related to multiple previous years.
Without these items, we would have had operating income of $13.6 million and pro-forma operating income of $10.9 million for fiscal 2014. In comparison, operating results for the full-year of 2013 were $7.3 million, pro-forma of $13.3 million and included restatement and associated investigation expenses of $24.8 million, restructuring cost of $0.8 million, $3.0 million indirect tax recovery related to multiple previous years and approximately $1.1 million of operating income from the 53rd week in 2013. Without these items we would have had operating income in 2013, of $14.2 million and pro-forma operating income of $8.2 million. The net loss in fiscal 2014 was $19.0 million or $0.91 per share, pro-forma of $21.7 million – compared to a net loss in fiscal 2013 of $30.9 million or a $1.48 per share, and pro-forma of $37 million.
In addition to the items mentioned above, fiscal 2014 included a $1.4 million true-up of non-US income taxes related to multiple previous years. Without the previously mentioned items, net income in 2014 would have been $6.8 million and pro forma net income $4.1 million, compared to fiscal 2013 net income of $8.7 million and pro forma net income of $2.6 million.
The direct cost of staffing services revenue decreased by 16.5% to 1.4 billion. This decline primarily resulted from fewer contingent staff on assignment, consistent with the related decrease in revenues, although, somewhat offset by improved margins. The direct margin of staffing services revenue and performance staffing revenue was 15.0% and 14.9% in 2014 compared to 14.3% and 14.1% respectively in 2013. This improvement was primarily due to the actions we have taken including the reorganization of the traditional staffing services, the divestiture of the vendor management software business, our continued initiative to reduce exposure to customers with unfavorable business terms, and higher margins on our call center, game testing and other project based revenue.
Staffing services segment operating income of $26 million decreased from $27.7 million last year. Our pro-forma operating income in 2014 of $23.5 million increased 9.4% from $21.4 million last year. The 2013 numbers included $3 million tax recovery related to multiple previous periods, so, on a comparable basis the staffing services operating income increase would have been $1.3 million in 2014 and the pro-forma operating income increase would have been $5.1 million. This improvement was driven by decrease in administrative and other operating costs, the reorganization of the traditional staffing business, the divestiture of the VMS software business, our continuing initiative to reduce exposure to customers with unfavorable business terms and improved results in our call center game accessing other project based staffing services. The other reportable segment in that revenue decreased by 5.7% compared to last year to $111 million. Operating loss for this segment was $0.8 million from income of $1.7 million last year.
Now turning to our 4th fiscal quarter: because fiscal 2014 consisted of 52 weeks while last year had 53 weeks, the fiscal 4th Quarter of this year had 64 work days as opposed to last year’s 69 work days, we reported net revenue of approximately $430 million down approximately 18% on a year-over-year basis. GAAP property and income was $6.1 million, a decline from $10.3 million in the year ago period while pro-forma operating income of $6 million decreased from $8 million in the year ago period. Our 4th Quarter net come was $2.1 million or $0.10 per share and pro-forma was $2.0 million, and included restructuring cost $0.7 million. Losses from discontinued operations of $2.4 million and $1 million cost in our workers compensation program related the multiple years. Without these items net income in the 4th Quarter of 2014 would have $6.2 million and pro-forma net income $6.1 million.
