Corporate Resource Services recently announced that it was changing its fiscal year end from September to December. As a result, the Company will be reporting its quarter ending December 28, 2012 as a transition period and will begin its 53-week fiscal 2013 year on December 29, 2013.Based on preliminary results, the Company expects that revenues for the quarter ended December 28, 2012 to be in the range of $189 to $192 million and net income to be between $1.5 and $1.8 million. “We continue to see improvement in our profit margin as operations are rationalized and a more efficient organizational structure is implemented,” said Golde. “We expect that the first quarter of fiscal 2013 will drop back into a loss of approximately $1.5 to $1.8 million on revenues of approximately $165 to $170 million, due mainly to the seasonal reset of payroll tax wage limits at a time when we are incurring the last of our integration expenditures. Despite this, we expect to achieve full year 2013 net income of between $6.5 and $7.8 million on revenues of approximately $730 million to $780 million.” The estimates above do not reflect the impact of any future weather events and they assume no acquisitions of additional staffing firms and no deterioration in the staffing markets the Company serves. About Corporate Resource Services, Inc.: Corporate Resource Services, Inc. provides diversified staffing, recruiting, and consulting services and offers trained employees in the areas of Insurance, Information Technology, Accounting, Legal, Engineering, Science, Healthcare, Life Sciences, Creative Services, Hospitality, Retail, General Business and Light Industrial work. The company’s blended staffing solutions are tailored to our customers’ needs and can include customized employee pre-training and testing, on-site facilities management, vendor management, risk assessment and management, market analyses and productivity/occupational engineering studies. The Company’s ability to deliver broad-based solutions provides its customers a “one stop shop” to fulfill their staffing needs from professional services and consulting to clerical and light industrial positions. Depending on the size and complexity of an assignment, Corporate Resource Services can create an on-site facility for recruiting, training and administration at the customers’ location. Company recruiters have the latest state of the art recruiting resources available to help customers secure the best candidates in today's ever-changing marketplace. CRS’s national network of recruiters has staffing experts that get excellent results by focusing within their areas of expertise.
The Company operates 205 staffing and on-site facilities in 37 states and the District of Columbia and it offers its services to a wide variety of clients in many industries, ranging from sole proprietorships to Fortune 1000 companies. To learn more, visit http://www.crsco.com.This press release contains forward-looking statements, which are subject to risks and uncertainties. Such statements are based on assumptions and expectations which may not be realized and are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, financial and otherwise, may differ from the results discussed in the forward-looking statements. A number of these risks and other factors that might cause differences, some of which could be material, along with additional discussion of forward-looking statements, are set forth in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission.