On Assignment Inc. (NASDAQ:ASGN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 8.48%.
On Assignment Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 11.11% to $0.2 in the quarter versus EPS of $0.18 in the year-earlier quarter.
Revenue: Rose 132.94% to $389.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: On Assignment Inc. reported adjusted EPS income of $0.2 per share. By that measure, the company beat the mean analyst estimate of $0.18. It beat the average revenue estimate of $378.47 million.
Quoting Management: “The supply of technical resources continues to tighten, which provides us with both opportunities and challenges. As these resources become scarcer, we believe all our customers, large and small, will recognize the need to remain competitive with compensation in order to timely acquire the talent they need to execute their operating plans. This circumstance should result in higher bill rates later in the year.”
Key Stats (on next page)…
Revenue decreased 3.1% from $401.66 million in the previous quarter. EPS decreased 4.76% from $0.21 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.31 to a profit $0.26. For the current year, the average estimate has moved down from a profit of $1.23 to a profit of $1.07 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)