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Thursday, Mar 28, 2024

On Assignment Climbs 8 Percent on Strong Quarter

On Assignment released first-quarter results that sent its stock up 8.5 percent Thursday. The Calabasas staffing company reported net income of $22.4 million (42 cents a share) for the quarter ended March 31, compared to net income of $17.4 million (33 cents) for the same quarter a year ago. Revenue climbed 7.6 percent to $627 million. “A renewed focus by customers on work being performed by domestic labor and the continued adoption of our delivery/development model has permitted us to once again report solid results,” Chief Executive Peter Dameris said in a statement. “As we look forward, economic and legislative factors remain positive and we continue to invest in and alter our divisions’ operating strategies to deliver higher growth.” On Assignment (ASGN) reported results after market close Wednesday. Shares closed Thursday up $4.18, or 8.5 percent, to $53.67 on the New York Stock Exchange.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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