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On Assignment revenue falls 35%

August 06 2009

On Assignment Inc. (NASD: ASGN) reported second-quarter revenue declined 34.8% year over year to $101.8 million.

However, the Calabasas CA-based healthcare and professional staffing firm reported second-quarter physician staffing revenue rose 6.9% year over year to $23.3 million.

Second-quarter revenue declined year over year in other segments. Nurse travel revenue declined 55.0% to $14.0 million, allied healthcare fell 37.0% to $9.2 million, life sciences revenue fell 29.2% to $22.7 million and information technology and engineering revenue fell 42.3% to $32.5 million.

On Assignment's gross margin improved to 32.8% from 32.5% in year-ago quarter.

Second-quarter net income was $570,000 compared with $6.1 million in the second quarter of 2008.

On Assignment estimated third-quarter revenue of between $95.0 million to $102.0 million, a decrease of 37.0% to 41.3%.

On Assignment Inc. (NASD: ASGN)
For the second quarter ended June 30, 2009, compared with the same period in 2008.
Revenue: $101.8 million, -34.8%
Net income: $570,000, -90.6%

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