This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

On Assignment Reports Record Second Quarter 2012 Results

On Assignment, Inc. (NASDAQ: ASGN), a diversified professional staffing firm providing flexible and permanent staffing solutions in specialty skills including Life Sciences, Healthcare, Physician and Information Technology and Engineering, today reported results for the quarter ended June 30, 2012.

Second Quarter 2012 Highlights

  • Revenues for the second quarter of 2012 were $283.2 million, including $99.0 million from Apex Systems which was acquired on May 15 th. Revenues were up 97 percent year-over-year and up 70 percent from the preceding quarter.
  • Revenue growth (excluding the acquisition of Apex Systems) was 28 percent over the second quarter of 2011.
  • Adjusted EBITDA (a non-GAAP measurement defined below) was $32.3 million, up 118 percent year-over-year.
  • Adjusted EBITDA margin (Adjusted EBITDA as a percent of revenues) for the quarter was 11.4 percent compared with 10.3 percent in the second quarter of 2011.
  • Net Income was $8.5 million, or $0.19 per diluted share and $13.0 million or $0.28 per diluted share excluding acquisition related costs (net of income tax).

Commenting on the results for the second quarter, Peter Dameris, President and Chief Executive Officer of On Assignment, Inc., said, “I’m very pleased with our results for the second quarter of 2012. Our revenue almost doubled year-over-year and net income before acquisition related costs, as well as our Adjusted EBITDA more than doubled. Apex accounted for $99 million of our second quarter revenues and our other business grew 28 percent year-over-year. We are very pleased that our efforts during the quarter continue to demonstrate our operating discipline in that we were able to complete an acquisition that roughly doubled the size of the Company while at the same time achieving above market growth in our other businesses.”

“Our second quarter results reflect our expected income contribution from the Apex acquisition.” Dameris continued, “In addition, these results, which included expansion of our operating margins, were not impacted by any synergy savings from the acquisition of Apex.”

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs