On Assignment News Release (02/14/12)

On Assignment Inc. today reported results for the quarter and the year ended Dec. 31, 2011. Revenues for the fourth quarter of 2011 were $161.8 million, up 34% year-over-year. Revenues for the full year 2011 were $597.3 million, up 36% year-over-year.

Net income for the fourth quarter of 2011 was $7.5 million, compared with $2.8 million for the fourth quarter of 2010. Peter Dameris, president and chief executive officer of On Assignment, said, “We believe we are well positioned to take advantage of what we believe will be historic secular and cyclical growth for the staffing industry over the next three to five years.”

Insperity Inc. News Release (02/14/12)

Insperity Inc. today reported results for the fourth quarter and year ended Dec. 31, 2011. For the fourth quarter, the company reported net income of $10.8 million, a 39.2% increase over the $7.8 million earned in the 2010 period. For the year ended Dec. 31, 2011, the company reported net income of $30.5 million, a 35.8% increase over the $22.4 million earned in 2010.

Revenues for the fourth quarter of 2011 increased 13.7% over the 2010 period due to a 9.7% increase in the average number of work site employees paid per month and a 3.6% increase in revenues per work site employee per month. Revenues in 2011 were $2.0 billion, a 14.9% increase over 2010.

Barrett Business Services News Release (02/13/12)

Barrett Business Services Inc. reported financial results for the fourth quarter and full year ended Dec. 31, 2011. Net revenues for the fourth quarter of 2011 increased 15% to $84.7 million, compared with $73.6 million in the fourth quarter of 2010. Total gross revenues in the fourth quarter of 2011 increased 23% to $423.6 million, compared with $344.2 million in the same quarter of 2010. The increase was primarily attributable to the continued net increase in the company’s professional employer organization client count and to a small increase in same-store sales growth.

Net loss for the fourth quarter was $93,000, compared with net income of $3.1 million in the year-ago quarter, due to an increase to the company’s workers’ compensation reserve of approximately $8.5 million in the fourth quarter of 2011. Net revenues for the full year of 2011 increased 15% to $314.9 million, compared with $273.1 million in 2010. Net income in 2011 was $14.3 million, compared with net income of $7.4 million in 2010.

Bloomberg (02/13/12) Holly Rosenkrantz

President Barack Obama has proposed a consolidation of job-creation programs as part of his 2013 U.S. Department of Labor budget, which would see a 4% reduction. The savings reflect elimination of overlapping job-training programs and consolidation of regional offices.

The budget increases funding for agencies that protect worker wages, benefits, health, and safety, and invests in detecting employer misclassification of workers as independent contractors. The budget provides a $6 million increase for the Wage and Hour Division of DOL for intensified enforcement of the Fair Labor Standards Act and the Family and Medical Leave Act.