On Assignment Inc. has higher net income and revenues for the second quarter of 2011 compared to a year ago after experiencing major growth in its IT & Engineering and Life Sciences segments.
For the quarter that ended June 30, the Calabasas-based professional staffing company had net income of $5.9 million, or $0.16 per diluted share, on revenues of $143.7 million. For the same period last year, the company had net income of $940,000, or $0.03 per diluted share, on revenues of $104.5 million.
On Assignment President and CEO Peter Dameris said the company’s operating results for the quarter and first half of the year were driven by high double-digit growth of its IT & Engineering and Life Sciences units.
For the second quarter, the company had year-over year revenue growth of 58.4 percent for its IT & Engineering segment, 55.3 percent for its Life Sciences segment and12.6 percent for its Healthcare segment. The Physician segment had a year-over-year revenue decline of 7.7 for the quarter.
Dameris said he expects the Physician Segment to start growing again in the third quarter since its June revenues increased year-over-year for the first time in 22 months.
On Assignment is projecting its third-quarter net income to be between $6.4 million and $7 million, with earnings per diluted share between $0.17 and $0.19. It is projecting its revenues to be between $155 million and $158 million.