On Assignment News Release (10/25/12)
On Assignment Inc.’s third-quarter results show a 139.1% jump in revenue year-over-year to $388.3 million, with $202.7 million of that amount tied to Apex Systems, which it acquired in May. Revenue rose 14.3% over the same period without factoring in Apex Systems’ results. The staffing firm also reports net income of $17.4 million, up from $8.5 million in the second quarter and $7.8 million in the third quarter of 2011.
On Assignment president and chief executive officer Peter Dameris said, “I’m very pleased that, despite the macroeconomic challenges, we grew our revenues year-over-year approximately 14% on both a pro forma basis (including Apex) and for our legacy businesses (which excludes Apex). At the same time, our adjusted earnings before interest, taxes, depreciation, and amortization (both pro forma and legacy businesses) grew at twice the rate of our revenues.”
Exclusive Guide to Factoring for Staffing Companies
Whether your firm needs working capital to hire new talent, maximize a marketing opportunity, or extend client payment terms, factoring allows staffing companies to convert unpaid invoices into cash today. Download now to get answers to the top 10 questions related to accessing working capital via invoice financing.