- Revenues were $388.3 million and above the high-end of the previously-announced estimates.
- Revenues were up 139.1 percent year-over-year and included Apex Systems (which was acquired on May 15, 2012) for a full quarter. Apex Systems accounted for $202.7 million of total revenues. Revenue growth, excluding Apex Systems, was 14.3 percent year-over-year.
- Adjusted EBITDA (a non-GAAP measurement defined below) was $45.5 million, up 150.2 percent year-over-year.
- Adjusted EBITDA margin (Adjusted EBITDA as a percent of revenues) was 11.7 percent, up from 11.2 percent in the third quarter of 2011 and 11.4 percent in the second quarter of 2012.
- Net Income was $17.4 million ($0.33 per diluted share) compared with $7.8 million ($0.21 per diluted share) in the third quarter of 2011 and $8.5 million ($0.19 per diluted share) in the second quarter of 2012.
- Leverage ratio (total indebtedness to trailing twelve months Adjusted EBITDA) was 2.96 to 1 compared with 3.79 to 1 as of May 15, 2012, the effective date of the acquisition of Apex Systems.
On Assignment Reports Results For Third Quarter 2012
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