On Assignment Reports Higher Q2 Earnings, Revenues

Professional staffing firm On Assignment, Inc. reported higher net income and revenues for the second quarter of 2010. The firm provides flexible and permanent staffing services in specialty skill fields, including the laboratory and scientific, healthcare and nursing, physician, medical financial, and information technology and engineering fields. For the second quarter of 2010, the firm reported net income of $0.9 million on revenues of $104.5 million. The firm reported net income of $0.6 million for last year’s second quarter and a loss of $0.3 million for the first quarter of this year. The company’s second-quarter revenues this year represented a 2.6-percent increase over the same quarter last year. They also represented an 8.5-percent increase over the first quarter. Sectors of increase revenues included the company’s information and technology segment and its life sciences segment. The company expects higher net income and revenues with further growth in the information technology and engineering and life sciences sectors, though it expects declines in healthcare and physician staffing. It also expects to receive about $1.3 million in revenues from Sharpstream Life Sciences, Ltd., which the firm acquired in July.