ASGN Shares Rise on Earnings Report

Shares of ASGN Inc. jumped nearly 13 percent Thursday after the Calabasas staffing company reported better-than-expected quarterly earnings of $49.2 million. Adjusted net income came to $1.30 a share, 20 cents above the mark analysts had expected, according to Thomson Reuters. Total revenue for the quarter rose 36 percent year-over-year to $906 million. “The U.S. economy continues to perform well and our commercial and governmental clients are aggressively investing in their businesses,” said Chief Executive Peter Dameris in a statement. “Against this strong economic back drop, along with a continued increase in the adoption of our ‘shared resource’ delivery model, we were able to accelerate our growth rate and expect to continue to be able to deliver above-market growth in the quarters ahead.” The company forecasts revenue of $905 million to $915 million for the next quarter. On a day when the Nasdaq rose nearly 3 percent, rebounding from losses earlier in the week, shares of ASGN rose $7.49, or almost 13 percent, on Thursday to close at $66.51.