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On Assignment Reports Results For Fourth Quarter 2012

Full Year 2013

  • Revenues of $1,605 million to $1,660 million
  • Gross Margin of 30.3 percent to 30.5 percent
  • SG&A (excludes amortization of intangible assets) of $350 to $375 million, which includes $9.0 million in depreciation and $14.5 million in equity-based compensation expense
  • Amortization of intangible assets of $21.0 million
  • Adjusted EBITDA of $164 million to $170 million
  • Effective tax rate of 43 percent
  • Net income of $56 million to $60 million
  • Earnings per diluted share of $1.02 to $1.09
  • Diluted shares outstanding of 55 million

The estimates assume year-over-year revenue growth of 10 to 15 percent for Technology (Apex Systems and Oxford), 8 to 10 percent for Life Sciences, approximately 11 percent for Physician Staffing and mid-to-high teens for Allied Healthcare. The estimates above assume no deterioration in the staffing markets On Assignment serves.

On Assignment will hold a conference call today at 1:30 p.m. PST (4:30 EST) to review its fourth quarter financial results. The dial-in number is 877-837-4158 (+1-281-913-8521 for callers outside the United States) and the conference ID number is 87843435. Participants should dial in ten minutes before the call. A replay of the conference call will be available beginning today at 4:30 p.m. PST and ending midnight EST on Thursday, February 28, 2013. The access number for the replay is 855-859-2056 (1+404-537-3406 for callers outside the United States) and the conference ID number 87843435.

This call is being webcast by Thomson/CCBN and can be accessed via On Assignment’s web site at www.onassignment.com. Individual investors can also listen at Thomson/CCBN's site at www.fulldisclosure.com or by visiting any of the investor sites in Thomson/CCBN's Individual Investor Network.

About On Assignment

On Assignment, Inc. (NYSE: ASGN), is a leading global provider of in-demand, skilled professionals in the growing technology, healthcare and life sciences sectors, where quality people are the key to success. The Company goes beyond matching résumés with job descriptions to match people they know into positions they understand for temporary, contract-to-hire, and direct hire assignments. Clients recognize On Assignment for their quality candidates, quick response, and successful assignments. Professionals think of On Assignment as career-building partners with the depth and breadth of experience to help them reach their goals.

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