On Assignment Posts Loss in Q4

Staffing services firm On Assignment widened its net loss in the fourth quarter when compared to the previous year. The Calabasas-based company reported a net loss of $13.7 million, or $0.38 per diluted share, on revenues of $121.2 million for the quarter ending Dec. 31. For the same period in 2009, On Assignment reported net income of $1.5 million, or $0.03 per diluted share, on revenues of $99.9 million. For the full fiscal year, On Assignment reported a net loss of $9.9 million, or $0.27 per diluted share, on revenues of $438 million. For the previous fiscal year, the company reported net income of $4.7 million, or $0.13 per diluted share, on revenues of $416.6 million. The information technology and engineering segment brought in the most revenues for the year at $178,688, followed by life sciences ($109,495), health care ($76,287) and physician staffing ($73,595). In the fourth quarter, On Assignment signed a deal to acquire one of the largest privately owned clinical staffing firms in Western Europe, which brought in $20 million in revenue in 2010. Mark R. Madler