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On Assignment Revenue Rises 38%

August 04, 2011

On Assignment Inc. (NASD: ASGN), a Calabasas, Calif.-based life sciences, healthcare and technology staffing company, reported revenue rose 37.5 percent in the second quarter to $143.7 million from $104.5 million in the year-ago quarter.

Revenue rose in all the company’s business lines except physician staffing:

  • Life sciences, up 55.3 percent to $39.6 million
  • Healthcare staffing, up 12.6 percent to $21.7 million
  • Physician staffing, down 7.7 percent to $17.0 million
  • Information technology and engineering, up 58.4 percent to $65.3 million

On Assignment’s second-quarter gross margin improved to 34.0 percent from 33.8 percent a year ago.

Net income jumped to $5.9 million from $940,000 in the 2010 second quarter.

The company expects third-quarter revenue to be between $155 million and $158 million, a year-over-year increase of between 33.5 percent and 36.0 percent. Gross margin is expected to be approximately 34.1 percent.

Recently, On Assignment announced plans to buy HealthCare Partners Inc., a physician staffing firm, based in Atlanta.

On Assignment Inc. (NASD: ASGN)
For the quarter ended June 30, 2011, compared with the year-ago quarter
Revenue: $143.7 million, +37.5 percent
Net income: $5.9 million vs. net income of $940,000