Certified Services, Inc. Announces Significant Expansion of Market Presence.Business Editors/High-Tech Writers NEW YORK--(BUSINESS WIRE)--July 1, 2003 Certified Services, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CSRV CSRV Civil Service Rifle Volunteers (British) CSRV Coates Spherical Rotary Valves ) (the "Company") a leading provider of human resource services, today announced it consummated the acquisition of the combined human resource service companies of BACE n., a., & 1. See Base. International, Inc. BACE's human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. operations, which were comprised of three separate units, was acquired by the Company in a newly formed, wholly-owned subsidiary American HR Holdings, Inc. ("AmerHR"). "The combined businesses of CURA and AmerHR now serve 1800 commercial clients with more than 58,000 worksite employees in 37 states with a gross payroll/revenue base nearing $1.1 billion" stated Danny L. Pixler, CSRV's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Pixler further commented "The consummated transaction is anticipated to be accretive to earnings in the very near future while representing a major step in the Company's goal of having a presence in 100,000 households within its first five years of operations. Simply put, this is an exciting growth opportunity for our company." CSRV entered the human resource services business through its acquisition of America's PEO Holdings, Inc., in Cherry Hill Cherry Hill, township (1990 pop. 69,319), Camden co., W central N.J.; name was changed from Delaware township to Cherry Hill in 1961. Largely residential, Cherry Hill has been marked by great development and housing growth, especially since the 1970s. , NJ in November 2001. In July 2002, CSRV acquired The Cura Group, Inc. with operations in Ft. Lauderdale, Tampa, and Jacksonville, FL and Atlanta, GA. AmerHR's holdings are comprised of offices in Charlotte, NC, Apopka, and Bradenton, FL, and Dallas, TX. CSRV, through its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , provides a broad range of human resource services for small and mid-size businesses including payroll and benefits administration, employee record keeping and regulatory compliance, health and workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. insurance programs, and worksite safety management. The news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in future operating results due to a number of economic, competitive and other factors, including among other things, the size or timing of customer contracts, new or increased competition, changes in market demand and seasonality of purchases of the Company's product and services. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information with respect to these and other factors that could materially affect the company and its operations are included in certain forms the company files with the U.S. Securities and Exchange Commission. |
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