Professional staffing firm On Assignment Inc. (NYSE ASGN) on Friday updated its net income guidance for the fourth quarter of 2017 and announced it expects to record a one-time, noncash income tax benefit of $30.5 million to $33.5 million in the fourth quarter because of the Tax Cuts and Jobs Act.

“The income tax benefit is mainly the result of the revaluation of our net deferred income tax liabilities and an estimate of the transitional tax on deemed repatriated foreign earnings,” according to the Calabasa, Calif.-based company.

Because of the one-time income tax benefit, On Assignment now estimates it will report fourth-quarter net income of between $61.4 million and $66.2 million. Its previously announced estimate was between $38.9 million and $40.6 million.