Revenues up at On Assignment

Fri, 19 Feb 2010

US recruiter On Assignment has recorded increased revenues in its results for the fourth quarter of 2009.

The medical, IT and engineering recruiter reported revenues for the quarter of $99.9m (£63.8m), up from $98.1m in the third quarter, while gross margin was 33.2% up from 32.9% in the fourth quarter of 2008.

Peter Dameris, president and chief executive of On Assignment, says: “Throughout 2009, we remained disciplined in protecting our margins and positioning the company for future growth and profitability. Although revenues and profits contracted considerably, we were successful in creating value for our shareholders and employees by substantially reducing our long term debt, expanding our consolidated gross margin and maintaining a high EBITDA margin.

“Our fourth quarter results demonstrate the growth potential that lies ahead for our company, once the US economy experiences a sustainable recovery.”