On Assignment Q3 Profit Rises; Issues Q1, FY14 Outlook - Quick Facts

(RTTNews) - On Assignment Inc. (ASGN), a staffing services company, Wednesday reported fourth-quarter net income of $32.4 million or $0.59 per share, compared with $14.2 million or $0.26 per share last year.

Excluding items, adjusted income from continuing operations for the quarter were $27.5 million or $0.50 per share.

Revenues for the quarter were up 14.7% at $423.60 million, compared with $369.44 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.33 per share on revenues of $422.04 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the first quarter, On Assignment expects income from continuing operations of $0.22 per share to $0.24 per share, adjusted income from continuing operations of $0.38 to $0.39 per share and revenues of $434.0 million to $438.0 million. Analysts currently expect earnings of $0.29 per share on revenues of $437.77 million.

For fiscal 2014, the company expects income from continuing operations of $1.42 per share to $1.51 per share, adjusted income from continuing operations of $2.04 to $2.13 per share and revenues of $1.88 billion to $1.91 billion. Analysts expect earnings of $1.49 per share on revenues of $1.86 billion.