<Page>


                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                  --------------------------------------------

                                    FORM 10-Q

                   Quarterly Report Under Section 13 or 15(d)

                     of the Securities Exchange Act of 1934

                  --------------------------------------------


      For Quarter Ended MARCH 31, 2002      Commission File Number 0-7282


                             COMPUTER HORIZONS CORP.
                             -----------------------
             (Exact name of registrant as specified in its charter)


                  NEW YORK                           13-2638902
                  --------                           ----------
        (State or other jurisdiction of          (I.R.S. Employer
        incorporation or organization)         Identification Number)

        49 OLD BLOOMFIELD AVENUE, MOUNTAIN LAKES, NEW JERSEY 07046-1495
        ---------------------------------------------------------------
               (Address of principal executive offices) (Zip code)

        Registrant's telephone number, including area code (973) 299-4000

                                 NOT APPLICABLE
                                 --------------
             (Former name, former address and former fiscal year, if
                           changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding twelve months (or for such shorter period that the
registrant was required to file such reports) and (2) has been subject to
such filing requirements for the past 90 days.

                                  Yes /X/     No

As of May 10, 2002 the issuer had 31,378,918 shares of common stock outstanding.


                                       1
<Page>


                             COMPUTER HORIZONS CORP.


                                     Index

<Table>
<Caption>
                                                                         Page No.
<S>                                                                      <C>

 Part I   Financial Information

               Consolidated Balance Sheets
               March 31, 2002 (unaudited) and December 31, 2001             3

               Consolidated Statements of Operations
               Three Months Ended March 31, 2002
               and March 31, 2001 (unaudited)                               4

               Condensed Consolidated Statements of
               Cash Flows - Three Months Ended
               March 31, 2002 and March 31, 2001 (unaudited)                5

               Notes to Consolidated Financial Statements                   6

               Management's Discussion and Analysis
               of Financial Condition and Results of
               Operations                                                   15

 Part II       Other Information                                            21

               Signatures                                                   21
</Table>


                                       2
<Page>

COMPUTER HORIZONS CORP. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(dollars in thousands, except per share data)

<Table>
<Caption>
                                                                                     March 31,       December 31,
                                                                                       2002             2001
                                                                                       ----             ----
                                                                                    (unaudited)
<S>                                                                                <C>              <C>
ASSETS
CURRENT ASSETS:
  Cash and cash equivalents                                                          $  46,209        $  41,033
  Accounts receivable, net of allowance for doubtful
    accounts of $8,226 and $7,542 at March 31, 2002 and
    December 31, 2001, respectively                                                     72,667           83,564
  Net assets held for sale                                                                   -           10,381
  Deferred income tax benefit                                                            9,506           13,030
  Refundable income taxes (Note 10)                                                     30,361            7,992
  Other                                                                                  6,519            5,238
                                                                                     ---------        ---------
          TOTAL CURRENT ASSETS                                                         165,262          161,238
                                                                                     ---------        ---------

PROPERTY AND EQUIPMENT                                                                  34,836           34,354
  Less accumulated depreciation                                                        (23,013)         (21,881)
                                                                                     ---------        ---------
                                                                                        11,823           12,473
                                                                                     ---------        ---------
OTHER ASSETS - NET:
  Goodwill                                                                              48,725           48,725
  Deferred income tax benefit                                                            5,113            5,708
  Other                                                                                  8,263            9,577
                                                                                     ---------        ---------
          TOTAL OTHER ASSETS                                                            62,101           64,010
                                                                                     ---------        ---------

TOTAL ASSETS                                                                         $ 239,186        $ 237,721
                                                                                     =========        =========
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
  Notes payable, current                                                             $       -        $  10,000
  Accrued payroll, payroll taxes and benefits                                           12,114           12,782
  Accounts payable                                                                       9,143           15,196
  Restructuring reserve                                                                  1,855            2,090
  Tax benefit reserve (Note 10)                                                         19,600                -
  Other accrued expenses                                                                 5,869            5,423
                                                                                     ---------        ---------
          TOTAL CURRENT LIABILITIES                                                     48,581           45,491
                                                                                     ---------        ---------

OTHER LIABILITIES                                                                        2,783            2,375
                                                                                     ---------        ---------
SHAREHOLDERS' EQUITY:
  Preferred stock, $.10 par; authorized and unissued 200,000 shares, including
    50,000 Series A
  Common stock, $.10 par, authorized 100,000,000 shares; issued 33,153,107
     shares at March 31, 2002
    and December 31, 2001 respectively                                                   3,315            3,315
  Additional paid-in capital                                                           134,508          135,230
  Accumulated comprehensive loss                                                        (3,334)          (2,932)
  Retained earnings                                                                     65,059           66,291
                                                                                     ---------        ---------
                                                                                       199,548          201,904
                                                                                     ---------        ---------
  Less shares held in treasury, at cost; 1,727,666 shares and 1,720,191 shares
    at March 31, 2002 and December 31, 2001, respectively                              (11,726)         (12,049)
                                                                                     ---------        ---------
          TOTAL SHAREHOLDERS' EQUITY                                                   187,822          189,855
                                                                                     ---------        ---------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                                           $ 239,186        $ 237,721
                                                                                     =========        =========
</Table>


                                       3
<Page>

COMPUTER HORIZONS CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(dollars in thousands, except per share data)

<Table>
<Caption>
                                                                        THREE MONTHS ENDED
                                                      ---------------------------------------------------
                                                           March 31, 2002                 March 31, 2001
                                                      --------------------           --------------------
                                                                    % of                           % of
                                                                   REVENUE                        REVENUE
                                                                   -------                        -------
<S>                                                 <C>           <C>              <C>           <C>
REVENUES:
    IT Services                                       $ 54,650      69.0%            $ 73,017      68.6%
    Solutions Group                                     24,569      31.0%              33,464      31.4%
                                                      --------     ------            --------     ------

                                                        79,219     100.0%             106,481     100.0%
                                                      --------     ------            --------     ------
COSTS AND EXPENSES:
     Direct costs                                       58,192      73.5%              72,916      68.4%
     Selling, general and administrative                26,459      33.4%              34,664      32.6%
     Amortization of intangibles                            -        0.0%                 707       0.7%
                                                      --------     ------            --------     ------

                                                        84,651     106.9%             108,287     101.7%
                                                      --------     ------            --------     ------

LOSS FROM OPERATIONS                                    (5,432)     -6.9%              (1,806)     -1.7%
                                                      --------     ------            --------     ------
OTHER INCOME / (EXPENSE):
     Gain on sale of assets                              3,570       4.5%                 438       0.4%
     Loss on investments                                   (61)     -0.1%                  -        0.0%
     Interest income                                       214       0.3%                 401       0.4%
     Interest expense                                     (159)     -0.2%                (576)     -0.5%
                                                      --------     ------            --------     ------

                                                         3,564       4.5%                 263       0.3%
                                                      --------     ------            --------     ------

LOSS BEFORE INCOME TAXES                                (1,868)     -2.4%              (1,543)     -1.4%
                                                      --------     ------            --------     ------
INCOME (BENEFIT) / TAXES:
     Current                                                -        0.0%              (1,725)     -1.6%
     Deferred                                             (635)     -0.8%               1,200       1.1%
                                                      --------     ------            --------     ------
                                                          (635)     -0.8%                (525)     -0.5%
                                                      --------     ------            --------     ------


NET LOSS                                              $ (1,233)     -1.6%            $ (1,018)     -0.9%
                                                      =========     =====            =========     =====
LOSS PER SHARE:
    Basic                                             $  (0.04)                      $  (0.03)
                                                      =========                      =========
    Diluted                                           $  (0.04)                      $  (0.03)
                                                      =========                      =========
WEIGHTED AVERAGE NUMBER OF
SHARES OUTSTANDING:
    Basic                                           31,501,000                     32,062,000
                                                    ==========                     ==========
    Diluted                                         31,501,000                     32,062,000
                                                    ==========                     ==========
</Table>


                                       4
<Page>

COMPUTER HORIZONS CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(dollars in thousands)

<Table>
<Caption>
                                                                Three Months Ended
                                                          -------------------------------
                                                            March 31,         March 31,
                                                              2002              2001
                                                              ----              ----
<S>                                                         <C>             <C>

CASH FLOWS PROVIDED BY OPERATING ACTIVITIES                 $    634        $  2,497
                                                            --------        --------

CASH FLOWS PROVIDED BY/(USED IN) INVESTING ACTIVITIES
   Purchases of property and equipment                          (539)         (1,566)
   Changes in goodwill                                             -            (173)
   Proceeds received from the sale of assets                  15,880               -
                                                            --------        --------
                                                              15,341          (1,739)
                                                            --------        --------

CASH FLOWS (USED IN)/PROVIDED BY FINANCING ACTIVITIES
   (Decrease)/increase in borrowings                         (10,000)            341
   Repurchase of common stock                                   (750)              -
   Stock options exercised                                       351             652
                                                            --------        --------
                                                             (10,399)            993
                                                            --------        --------

   Effect of exchange rate difference on cash                   (400)         (1,465)
                                                            --------        --------


NET INCREASE IN CASH AND CASH EQUIVALENTS                      5,176             286

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR                41,033          17,559
                                                            --------        --------

CASH AND CASH EQUIVALENTS AT END OF PERIOD                  $ 46,209        $ 17,845
                                                            ========        ========
</Table>


                                       5
<Page>


                             COMPUTER HORIZONS CORP.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                For the Periods March 31, 2002 and March 31, 2001
                                   (unaudited)


1.  BASIS OF PRESENTATION

The consolidated balance sheet as of March 31, 2002, the consolidated
statements of operations and the statement of cash flows for the three months
ended March 31, 2002 and 2001 have been prepared by the Company without
audit. In the opinion of management, all adjustments (which include normal
recurring adjustments) necessary to present fairly the financial position,
results of operations and cash flows at March 31, 2002 (and for all periods
presented) have been made.

Certain information and note disclosures, normally included in financial
statements prepared in accordance with accounting principles generally
accepted in the United States of America, which are not required for interim
purposes, have been condensed or omitted. It is suggested that these
consolidated financial statements be read in conjunction with the financial
statements and notes thereto included in the Annual Report on Form 10-K for
the year ended December 31, 2001 filed by the Company. The results of
operations for the periods ended March 31, 2002 and 2001 are not necessarily
indicative of the operating results for the respective full years.

2.  RECENT ACCOUNTING PRONOUNCEMENTS

In June 2001, the Financial Accounting Standards Board approved the issuance
of SFAS No. 141, "Business Combinations" and in July 2001, SFAS 142,
"Goodwill and Other Intangible Assets." The new standards require that all
business combinations initiated after June 30, 2001 must be accounted for
under the purchase method. In addition, all intangible assets acquired that
are obtained through contractual or legal right, or are capable of being
separately sold, transferred, licensed, rented or exchanged shall be
recognized as an asset apart from goodwill. Goodwill and intangibles with
indefinite lives will no longer be subject to amortization, but will be
subject to at least an annual assessment for impairment by applying a fair
value based test.

The Company has discontinued the amortization of goodwill, in compliance with
SFAS No. 142. The Company is currently conducting a valuation of its
intangible assets. If the fair value is less than the recorded value at
January 1, 2002, the Company will record an impairment loss in the June 30,
2002 quarter, as a cumulative effect of a change in accounting principle.


                                       6
<Page>


                             COMPUTER HORIZONS CORP.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                For the Periods March 31, 2002 and March 31, 2001
                                   (unaudited)


RECENT ACCOUNTING PRONOUNCEMENTS (CONTINUED)

The following pro forma table shows the effect of amortization expense on the
Company's net loss as follows:

<Table>
<Caption>
                                                Three Months Ended
                                          March 31, 2002       March 31, 2001
                                          --------------       --------------
<S>                                       <C>                  <C>

Reported Net Loss                               $(1,233)             $(1,018)

Amortization Expense                                 --                  707

                                          --------------       --------------
Adjusted Net Loss                              $ (1,233)               $(311)
                                          --------------       --------------
Reported Loss per Share:
Basic                                             (0.04)               (0.03)
Diluted                                           (0.04)               (0.03)

Adjustment for Amortization
  Expense:
Basic                                                --                 0.02
Diluted                                              --                 0.02

Adjusted Loss per Share:
Basic                                             (0.04)               (0.01)
Diluted                                           (0.04)               (0.01)
</Table>

Effective on January 1, 2002, the Company adopted Financial Accounting
Standard No. 144 "Accounting for the Impairment or Disposal of Long Lived
Assets," ("SFAS 144"). This supercedes SFAS 121, while retaining many of the
requirements of such statement. The effect of this statement is immaterial to
the Company.

3.  EARNINGS PER SHARE

Basic Earnings Per Share ("EPS") is based on the weighted average number of
common shares outstanding without consideration of common stock equivalents.
Diluted earnings per share is based on the weighted average number of common
and common equivalent shares outstanding, except where the effect would have
been antidilutive. The calculation takes into account the shares that may be
issued upon exercise of stock options, reduced by the shares that may be
repurchased with the funds received from the exercise, based on the average
price during the year.


                                       7
<Page>


                             COMPUTER HORIZONS CORP.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                For the Periods March 31, 2002 and March 31, 2001
                                   (unaudited)



EARNINGS PER SHARE (CONTINUED)

In accordance with SFAS No.128, the table below presents both basic and
diluted loss per share:

<Table>
<Caption>
                                                           Three Months Ended
                                                     March 31, 2002    March 31, 2001
                                                     --------------    --------------
<S>                                                    <C>               <C>
Numerator:
   Net loss (in thousands)                                 $(1,233)           $ (1,018)

Denominator:
   Denominator for basic loss per share
      Weighted average shares outstanding                31,501,000         32,062,000

Effect of stock options                                          --                 --

Diluted potential loss per share:
   Denominator for diluted loss per share
      Adjusted weighted average shares
         outstanding and assumed conversions             31,501,000         32,062,000

Basic loss per share                                        $ (0.04)          $  (0.03)


Diluted loss per share                                      $ (0.04)          $  (0.03)
</Table>

The computation of diluted loss per share excludes all options as their
effect would have been antidilutive. During 2002, there were 4,796,054
excluded options with exercise prices between $1.25 and $26.63 per share at
March 31. During 2001, there were 4,084,826 excluded options outstanding at
March 31, 2001 with exercise prices of $1.25 to $26.63 per share.

                                       8
<Page>


                             COMPUTER HORIZONS CORP.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

             For the Periods Ended March 31, 2002 and March 31, 2001
                                   (unaudited)


4.  SEGMENT INFORMATION

The Company has identified two segments: IT Services and the Solutions Group.
The IT Services division provides highly skilled software professionals to
augment the internal information management staffs of major corporations. IT
Services is primarily Staffing and Outsourcing. The Solutions division
provides enterprise application services, e-business solutions, customized
Web development and Web enablement of strategic applications, Customer
Relationship Management (CRM), network services, e-procurement solutions for
Human Resource acquisition and management (Chimes), strategic outsourcing and
managed resourcing as well as software and relational database products.
Operating income/(loss) consists of income/(loss) before income taxes,
excluding interest income, interest expense, gain on the sale of assets, net
loss on investments and amortization of intangibles. These exclusions total
income of $3.6 million and expense of $0.4 million in the first quarter of
2002 and 2001, respectively. Corporate services, consisting of general and
administrative services are provided to the segments from a centralized
location. Such costs are allocated to the segments based on either revenue or
headcount.

<Table>
<Caption>
                                                           Three Months Ended
                                                       March 31,         March 31,
                                                         2002               2001
                                                   ------------------ -----------------
<S>                                                     <C>                 <C>
REVENUE:
   IT Services                                             $ 54,650           $ 73,017
   Solutions Group                                           24,569             33,464
                                                   ------------------ -----------------
TOTAL                                                      $ 79,219           $106,481
                                                   ------------------ -----------------

OPERATING INCOME / (LOSS):
   IT Services                                             $ (1,035)          $  2,302
   Solutions Group                                           (4,397)            (3,401)
                                                   ------------------ -----------------
TOTAL                                                      $ (5,432)          $ (1,099)
                                                   ------------------ -----------------

ASSETS:
   IT Services                                             $ 86,008           $134,759
   Solutions Group                                           45,553             55,630
   Corporate and other                                      107,625             74,919
                                                   ------------------ -----------------
TOTAL                                                      $239,186           $265,308
                                                   ------------------ -----------------
</Table>


                                       9
<Page>


                             COMPUTER HORIZONS CORP.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

             For the Periods Ended March 31, 2002 and March 31, 2001
                                   (unaudited)

5.  RESTRUCTURING CHARGES

During the fourth quarter of 2001, the Company recorded a restructuring
charge of $410,000 pertaining to 2001 office closings. In addition, during
the second quarter of 2001, the Company recorded an additional $5.5 million
in restructuring expense to reduce the carrying amount of eB Networks to the
estimated net realizable value.

During the fourth quarter of 2000, the Company recorded restructuring charges
of $43.9 million. The Company's restructuring plan included the offering for
sale of four businesses acquired between 1998 and 1999, including Princeton
Softech, Inc., SELECT Software Tools division ("Select"), eB Networks and CHC
International, Ltd (formerly Spargo Consulting PLC). In addition,
restructuring charges included the shutdown of Enterprise Solutions Group
("ESG") which was acquired in 1998, the closing of seven offices and the site
reduction of two other IT Services offices.

At December 31, 2000, the Company recorded a write-down of goodwill of $7.2
million for the shutdown of ESG. In addition, a non-cash charge writing down
goodwill of $26 million and purchased software of $6.9 million was recorded,
in the fourth quarter of 2000, in connection with the write-down of assets
held for sale to realizable value. The closing of IT Services' and Solutions'
offices resulted in the termination of 90 employees with a severance charge
of $1.3 million. As of March 31, 2002, $1,060,000 had been paid in severance
to the terminated employees. The balance remaining at March 31, 2002 includes
continuing rent on five properties terminating in 2003, 2004 and 2005 and
severance for one individual with payments through January of 2003.

<Table>
<Caption>
                                                                          Remaining at
                                     Remaining at                           March 31,
                                    Dec. 31, 2001          Paid               2002
                                   ----------------  -----------------  -----------------
<S>                                    <C>                <C>               <C>
Severance:
  United States                               $243              $(36)               $207
                                   ----------------  -----------------  -----------------

Lease Obligations:
                                   ----------------  -----------------  -----------------
   United States                            $1,221             $(157)             $1,064
                                   ----------------  -----------------  -----------------


                                   ----------------  -----------------  -----------------
      Total                                 $1,464             $(193)             $1,271
                                   ----------------  -----------------  -----------------
</Table>


                                       10
<Page>


                             COMPUTER HORIZONS CORP.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

             For the Periods Ended March 31, 2002 and March 31, 2001
                                   (unaudited)


RESTRUCTURING CHARGES (CONTINUED)

During the fourth quarter of 2001, the Company recorded a restructuring
charge adjustment of $638,000 pertaining to the termination, by the
sublessee, of the sublease contracts for closed offices included in the 1999
restructure charge.

During the third quarter of 1999, the Company recorded a restructuring charge
of $6.4 million primarily related to the consolidating and closing of certain
facilities, generally used for Year 2000 and other legacy related services,
as well as attendant reduction of related staff levels.

During the second quarter of 2000, the Company recorded a restructuring
credit of $2.4 million. This credit resulted primarily from the earlier than
expected occupancy of two abandoned properties that were part of the 1999
restructuring reserve and the reversal of an over accrual of employee
severance benefits due to terminated employees in the UK and Canada. The
remaining balance at March 31, 2002 includes continuing rent on one property
with the lease terminating in 2005.

<Table>
<Caption>
                                                                           Remaining at
                                     Remaining at                            March 31,
                                    Dec. 31, 2001          Paid                 2002
                                   ---------------   ------------------   ----------------
<S>                                     <C>              <C>                 <C>

Lease Obligations:
                                   ---------------   ------------------   ----------------
   United States                             $626              $(42)               $584
                                   ---------------   ------------------   ----------------

                                   ---------------   ------------------   ----------------
      Total                                  $626              $(42)               $584
                                   ---------------   ------------------   ----------------
</Table>


                                       11
<Page>


                             COMPUTER HORIZONS CORP.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

             For the Periods Ended March 31, 2002 and March 31, 2001
                                   (unaudited)


6.  COMPREHENSIVE INCOME / (LOSS)

Statement of Financial Accounting Standards No. 130, Reporting Comprehensive
Income ("SFAS No.130"), requires that items defined as other comprehensive
income/(loss), such as foreign currency translation adjustments, be
separately classified in the financial statements and that the accumulated
balance of other comprehensive income/(loss) be reported separately from
retained earnings and additional paid-in capital in the equity section of the
balance sheet. The components of comprehensive loss for the three months
ended March 31, 2002 and March 31, 2001 are as follows:

<Table>
<Caption>
                                                         Three Months Ended
                                                     March 31,          March 31,
                                                       2002               2001
                                                ----------------   ----------------
<S>                                                <C>                <C>

Comprehensive Income Loss:

Net Loss                                               $(1,233)           $(1,018)
Other comprehensive income/(loss) - foreign
       currency adjustment                                (402)            (1,465)
                                                ----------------   ----------------
Comprehensive Loss                                     $(1,635)           $(2,483)
                                                ----------------   ----------------
</Table>


                                      12
<Page>


                             COMPUTER HORIZONS CORP.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

             For the Periods Ended March 31, 2002 and March 31, 2001
                                   (unaudited)


7.  SALE OF SUBSIDIARIES

On March 25, 2002, the Company sold the net assets of Princeton Softech to
Apax Partners, Inc. and LLR Partners, for cash of $16 million, including
amounts held in escrow of $1.5 million. The gain from the transaction was
$3.6 million. The results of operations are included in the consolidated
financial statements through February 28, 2002 within the Solutions group.

On September 10, 2001, the Company sold the assets of eB Networks to Inrange
Technologies, a storage networking company, for cash of $5.4 million,
including amounts held in escrow of $540,000. The loss from the transaction
was $3.2 million, which included the final write-down of related goodwill of
$2.1 million. The results of operations are included in the consolidated
financial statements through September 10, 2001 within the Solutions group.

On August 30, 2001, the Company sold the ICM Education name to AlphaNet
Solutions, Inc., an IT professional services firm, for $0.5 million. The gain
from the transaction was $332,000. The results of operations are included in
the consolidated financial statements through August 30, 2001 within the
Solutions group.

On April 17, 2001, the Company sold the SELECT Software Tools division
"Select" of Princeton Softech to Aonix, a member of the Gores Technology
Group, for approximately $895,000 including $545,000 of cash received and a
note receivable of $350,000. This sale included all the software assets and
intellectual property rights of Select and was sold at book value. The
results of operations are included in the consolidated financial statements
through April 17, 2001 within the Solutions group.

On January 31, 2001, the Company sold the stock of CHC International Limited,
("Spargo"), to an information technology consultancy service provider for
cash of $3.2 million. The gain from the transaction was $438,000. The results
of operations for January 2001 were not material to the consolidated
financial statements.

8.  PURCHASE OF TREASURY STOCK

In April 2001, the Board of Directors approved the repurchase in the open
market of up to 10% of its common shares outstanding, or approximately 3.2
million shares. As of the filing of this report, the Company had repurchased,
in the open market, 1,380,500 shares of its stock at an average price of
$3.32 per share for an aggregate purchase amount of $4.6 million.


                                      13
<Page>


                             COMPUTER HORIZONS CORP.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

             For the Periods Ended March 31, 2002 and March 31, 2001
                                   (unaudited)


9.  ASSET-BASED LENDING FACILITY

On July 31, 2001 the Company entered into an agreement with a secured
asset-based lending facility which replaced its two unsecured discretionary
lines of credit. This new line of credit is a three-year, $40 million
facility with availability based primarily on eligible customer receivables.
The interest rate for the first ninety days from closing is Prime plus 0.5%,
thereafter the rate is LIBOR plus 2.75% based on the unpaid principal. The
borrowing base less outstanding loans must equal or exceed $15 million. At
the time of closing there was a $170,000 commitment fee paid to the agent. As
of March 31, 2002, the Company had paid off all of the outstanding balance
against the facility.

10.  TAX BENEFIT RESERVE

During 1998, the Company completed a business combination which, for
financial statement purposes, was accounted for as a pooling of interests.
For income tax purposes, the Company believes the transaction qualified as a
taxable purchase that gives rise to future tax deductions. Upon the sale of
the acquired business in 2001, the balance of these deductions was recognized
for tax purposes. The benefit of $19.6 million relating to these deductions
was included in refundable income taxes in the first quarter of 2002. Since
the tax structure of the transaction is subject to determination by the tax
authorities, the Company has recorded a reserve for these tax benefits. When
resolved, the net benefit will be reflected as an increase in additional paid-
in capital.

11.  SUBSEQUENT EVENT

Subsequent to the closing of the first quarter, the Company received an
income tax refund of $11.3 million. Additionally, the Company will benefit
from the Economic Stimulus Act that was signed into law on March 9, 2002.
This Act contains many economic and tax incentives, including the temporary
extension of the carryback period for losses arising in years ending during
2001 and 2002 to five years from the previous two year carryback rule. As a
result, the Company is expecting an additional refund of about $20 million.


                                      14
<Page>


                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
             For the Periods Ended March 31, 2002 and March 31, 2001


RESULTS OF OPERATIONS

REVENUES. Revenues decreased to $79.2 million in the first quarter of 2002
from $106.5 million in the first quarter of 2001, a decrease of $27.3 million
or 25.6%. The Solutions Group decreased to $24.6 million in the first quarter
of 2002 from $33.5 million in the first quarter of 2001, a decrease of $8.9
million or 26.6%. IT Services revenues decreased to $54.7 million in the
first quarter of 2002 from $73.0 million in the first quarter of 2001, a
decrease of $18.3 million or 25.1%. The decrease in Solutions Group revenue
is primarily attributable to the revenue decline experienced by the business
units held for sale. Solutions Group revenue, excluding the operations of
units held for sale, actually increased by $1.5 million in the first quarter
of 2002 to $21.7 million. The decrease in IT Services revenue is primarily
attributed to the continued decreases in demand for temporary technology
workers and the impact of pricing decreases on revenue.

DIRECT COSTS. Direct costs decreased to $58.2 million in the first quarter of
2002, from $72.9 million in the comparable period of 2001. Gross margin,
revenues less direct costs, decreased to 26.5% in the first quarter of 2002
from 31.5% in the same period of 2001. The Company's margins are subject to
fluctuations due to a number of factors, including the level of salary and
other compensation necessary to attract and retain qualified technical
personnel.

SELLING, GENERAL AND ADMINISTRATIVE. Selling, general and administrative
expenses decreased to $26.5 million in the first quarter of 2002, from $34.7
million in the comparable period of 2001, a decrease of $8.2 million or
23.6%. The decrease in selling, general and administrative expenses was
primarily attributable to cost reductions in the IT Services Group and
Corporate, offset by increases in the Solutions Group as the Company
continues to invest in its Chimes subsidiary. As a percentage of revenues,
selling, general and administrative expenses increased to 33.4% of revenues
in the first quarter of 2002 from 32.6% in the comparable periods of 2001.

LOSS FROM OPERATIONS. Operating margins, decreased to a loss of 6.9% in the
first quarter 2002 from a loss of 1.7% in the comparable 2001 period. The
Company's business is labor-intensive and, as such, is sensitive to
inflationary trends. This sensitivity applies to client billing rates, as
well as to payroll costs.

OTHER INCOME. Other income increased to $3.6 million in the first quarter of
2002 compared to other income of $0.3 million in the same period of 2001.
This increase in other income was the result of the gain on the sale of
Princeton Softech.

PROVISION FOR INCOME TAXES. The effective tax rates for Federal, state and
local income taxes were 34.0% for both the first quarter of 2002 and 2001.

NET LOSS. Net loss for the first quarter of 2002 was $1.2 million, or $0.04
loss per diluted share, compared to net loss of $1.0 million, or $0.03 loss
per diluted share for the first quarter of 2001.


                                      15
<Page>


                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
             For the Periods Ended March 31, 2002 and March 31, 2001

LIQUIDITY AND CAPITAL RESOURCES

At March 31, 2002, the Company had $116.7 million in working capital, of
which $46.2 million was cash and cash equivalents.

Net cash provided by operating activities in the first quarter of 2002 was
$634,000, consisting primarily of a decrease in accounts receivable.

Net cash provided by investing activities in the first quarter of 2002 was
$15.3 million, consisting primarily of cash received from the sale of
Princeton Softech.

Net cash used in financing activities was $10.4 million for the first quarter
of 2002, primarily consisting of the payback of the outstanding balance of
the Company's line of credit.

At March 31, 2002, the Company had a current ratio position of 3.4 to 1. The
Company believes that its cash and cash equivalents, line of credit and
internally generated funds will be sufficient to meet its working capital
needs through 2002.

On July 31, 2001 the Company entered into an agreement with a secured
asset-based lending facility which replaced its two unsecured discretionary
lines of credit. This new line of credit is a three-year, $40 million
facility with availability based primarily on eligible customer receivables.
The interest rate for the first ninety days from closing is Prime plus 0.5%,
thereafter the rate is LIBOR plus 2.75% based on the unpaid principal. The
borrowing base less outstanding loans must equal or exceed $15 million. At
the time of closing there was a $170,000 commitment fee paid to the agent. As
of March 31, 2002, the Company had paid off all of the outstanding balance
against the facility.

In June 2001, the Financial Accounting Standards Board approved the issuance
of SFAS No. 141, "Business Combinations" and in July 2001, SFAS 142,
"Goodwill and Other Intangible Assets." The new standards require that all
business combinations initiated after June 30, 2001 must be accounted for
under the purchase method. In addition, all intangible assets acquired that
are obtained through contractual or legal right, or are capable of being
separately sold, transferred, licensed, rented or exchanged shall be
recognized as an asset apart from goodwill. Goodwill and intangibles with
indefinite lives will no longer be subject to amortization, but will be
subject to at least an annual assessment for impairment by applying a fair
value based test.

The Company has discontinued the amortization of goodwill, in compliance with
SFAS No. 142. The Company is currently conducting a valuation of its
intangible assets. If the fair value is less than the recorded value at
January 1, 2002, the Company will record an impairment loss in the June 30,
2002 quarter, as a cumulative effect of a change in accounting principle.

Effective on January 1, 2002, the Company adopted Financial Accounting
Standard No. 144 "Accounting for the Impairment or Disposal of Long Lived
Assets," ("SFAS 144"). This supercedes SFAS 121, while retaining many of the
requirements of such statement. The effect of this statement is immaterial to
the Company.

CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS

The Company does not utilize off balance sheet financing other than operating
lease arrangements for office premises and related equipment. Leases are
short term in nature and non-capital. The following table summarizes all
commitments under contractual obligations as of March 31, 2002:

<Table>
<Caption>

                                                 Obligation Due
                        ------------------------------------------------------------------
                         Total Amount    1 Year    2-3 Years    4-5 Years    Over 5 Years
                        --------------  --------  -----------  -----------  --------------
                                                   (in 000's)
<S>                         <C>        <C>         <C>           <C>                <C>

Operating leases               17,223     6,829        7,729        2,654              11
Other long-term                 2,783     2,783           --           --              --
                        --------------  --------  -----------  -----------  --------------
Total Cash Obligations         20,006     9,612        7,729        2,654              11
                        --------------  --------  -----------  -----------  --------------
</Table>


                                      16
<Page>


                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
             For the Periods Ended March 31, 2002 and March 31, 2001


PRO FORMA FINANCIAL INFORMATION EXCLUDING ASSETS HELD FOR SALE

The accompanying unaudited pro forma condensed consolidated statement of
operations as of the quarters ended March 31, 2002, December 31, 2001,
September 30, 2001, June 30, 2001 and March 31, 2001 have been prepared to
give effect of the consolidated operations excluding net assets held for sale
and is intended for informational purposes only.

All adjustments necessary to fairly present this pro forma condensed
consolidated financial information have been made based on available
information and assumptions, which, in the opinion of management, are
reasonable. The unaudited pro forma condensed consolidated financial
information is based upon and should be read in conjunction with, the
historical consolidated financial statements of the Company and the notes
thereto.

<Table>
<Caption>
                                                                Quarter Ended March 31, 2002
                                                   -----------------------------------------------------
                                                      Consolidated        Assets held          Pro forma
                                                               CHC           for Sale                CHC
                                                   ---------------   ----------------   ----------------
<S>                                                 <C>               <C>                 <C>

       Revenues                                          $79,219             $2,891            $76,328
       Direct Costs                                       58,192                494             57,698
                                                        --------           --------           --------
       Gross Profit                                       21,027              2,397             18,630
       SG&A                                               25,797              4,344             21,453
       Bad Debt Expense                                      662                 --                662
                                                        --------           --------           --------
       Operating Loss                                     (5,432)            (1,947)            (3,485)
       Gain on Sale of Assets                             (3,570)            (3,570)                --
       Loss on Investments                                    61                 --                 61
       Interest Income                                       (55)                --                (55)
                                                        --------           --------           --------
       (Loss)/Income before taxes                         (1,868)             1,623             (3,491)
       Income taxes/(benefit)                               (635)               552             (1,187)
                                                        --------           --------           --------
       Net (Loss)/Income                                  (1,233)             1,071             (2,304)
                                                         =======              =====            =======
</Table>


                                      17
<Page>


                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
             For the Periods Ended March 31, 2002 and March 31, 2001


<Table>
<Caption>
                                                                Quarter Ended December 31, 2001
                                                   -----------------------------------------------------
                                                      Consolidated        Assets held          Pro forma
                                                               CHC           for Sale                CHC
                                                   ---------------   ----------------   ----------------
<S>                                                 <C>               <C>                 <C>

       Revenues                                          $95,096             $9,488            $85,608
       Direct Costs                                       66,061              2,113             63,948
                                                        --------           --------           --------
       Gross Profit                                       29,035              7,375             21,660
       SG&A                                               29,262              7,745             21,517
       Bad Debt Expense                                    1,944                 --              1,944
                                                        --------           --------           --------
       Operating Income/(loss)                           (2,171)              (370)            (1,801)
       Restructuring Charge                                1,048                 --              1,048
       Interest Income                                     (225)                 --              (225)
       Loss on Sale of Assets                                802               802                 --
       Net Gain on Investment                               (90)                 --               (90)
       Amortization of Intangibles                           615                 --                615
                                                        --------           --------           --------
       Loss before taxes                                 (4,321)            (1,172)            (3,149)
       Income taxes/(benefit)                            (1,274)              (345)              (929)
                                                        --------           --------           --------
       Net Loss                                         $(3,047)             $(827)           $(2,220)
                                                        ========             ======           ========
</Table>


<Table>
<Caption>
                                                                Quarter Ended September 30, 2001
                                                   -----------------------------------------------------
                                                      Consolidated        Assets held          Pro forma
                                                               CHC           for Sale                CHC
                                                   ---------------   ----------------   ----------------
<S>                                                 <C>               <C>                 <C>

       Revenues                                          $94,212             $6,597            $87,615
       Direct Costs                                       67,672              2,409             65,263
                                                        --------           --------           --------
       Gross Profit                                       26,540              4,188             22,352
       SG&A                                               29,790              6,321             23,469
       Bad Debt Expense                                      614                 89                525
                                                        --------           --------           --------
       Operating Loss                                    (3,864)            (2,222)            (1,642)
       Interest Income                                      (43)                 --               (43)
       Loss on Sale of Assets                              2,833              2,833                 --
       Amortization of Intangibles                           650                 --                650
                                                        --------           --------           --------
       Loss before taxes                                 (7,304)            (5,055)            (2,249)
       Income taxes/(benefit)                            (2,483)            (1,718)              (765)
                                                        --------           --------           --------
       Net Loss                                         $(4,821)          $(3,337)            $(1,484)
                                                        ========           ========           ========
</Table>


                                      18
<Page>


                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
             For the Periods Ended March 31, 2002 and March 31, 2001


<Table>
<Caption>
                                                                Quarter Ended June 30, 2001
                                                   -----------------------------------------------------
                                                      Consolidated        Assets held          Pro forma
                                                               CHC           for Sale                CHC
                                                   ---------------   ----------------   ----------------
<S>                                                 <C>               <C>                 <C>

       Revenues                                         $104,995            $11,140            $93,855
       Direct Costs                                       74,927              4,057             70,870
                                                        --------           --------           --------
       Gross Profit                                       30,068              7,083             22,985
       SG&A                                               32,162              9,614             22,548
       Bad Debt Expense                                      396                 37                359
                                                        --------           --------           --------
       Operating Income/(loss)                           (2,490)            (2,568)                 78
       Restructuring Charge                                5,473                 --              5,473
       Interest Income                                     (256)                 --              (256)
       Amortization of Intangibles                           723                 --                723
                                                        --------           --------           --------
       Loss before taxes                                 (8,430)            (2,568)            (5,862)
       Income taxes/(benefit)                            (2,866)              (873)            (1,993)
                                                        --------           --------           --------
       Net Loss                                         $(5,564)           $(1,695)           $(3,869)
                                                        ========           ========           ========
</Table>


<Table>
<Caption>
                                                                Quarter Ended March 31, 2001
                                                   -----------------------------------------------------
                                                      Consolidated        Assets held          Pro forma
                                                               CHC           for Sale                CHC
                                                   ---------------   ----------------   ----------------
<S>                                                 <C>               <C>                 <C>

       Revenues                                         $106,481            $13,265            $93,216
       Direct Costs                                       72,916              4,997             67,919
                                                        --------           --------           --------
       Gross Profit                                       33,565              8,268             25,297
       SG&A                                               34,221              9,793             24,428
       Bad Debt Expense                                      443                 48                395
                                                        --------           --------           --------
       Operating Income/(loss)                           (1,099)            (1,573)                474
       Gain on sale of Spargo                              (438)              (438)                 --
       Interest Expense                                      175                 --                175
       Amortization of Intangibles                           707                 --                707
                                                        --------           --------           --------
       Loss before taxes                                 (1,543)            (1,135)              (408)
       Income taxes/(benefit)                              (525)              (386)              (139)
                                                        --------           --------           --------
       Net Loss                                         $(1,018)             $(749)             $(269)
                                                        ========             ======             ======
</Table>


                                      19
<Page>


                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
             For the Periods Ended March 31, 2002 and March 31, 2001


CERTAIN DISCLOSURES

This report contains certain forward-looking statements for purposes of the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995 that involve risks and uncertainties that could cause actual results to
differ materially. Such statements are based upon, among other things,
assumptions made by, and information currently available to management,
including management's own knowledge and assessment of the Company's industry
and competition.





                                      20
<Page>


                            PART II Other Information


Item 6.

      b) None


                                   Signatures

Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                             COMPUTER HORIZONS CORP.
                                           ---------------------------------
                                                (Registrant)

<Table>

<S>        <C>                             <C>
DATE:       May 15, 2002                    /s/  John J. Cassese
                                           ---------------------------------
                                            John J. Cassese
                                            Chairman of the Board and
                                            President


DATE:       May 15, 2002                    /s/ William J. Murphy
                                           ---------------------------------
                                            William J. Murphy
                                            Executive Vice President,
                                            Chief Financial Officer
                                            (Principal Financial Officer) and
                                            Director


DATE:       May 15, 2002                    /s/ Michael J. Shea
                                           ---------------------------------
                                            Michael J. Shea,
                                            Vice President and Controller
                                            (Principal Accounting Officer)
</Table>


                                      21