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ON ASSIGNMENT INC. REPORTS FIRST QUARTER RESULTS

 CANOGA PARK, Calif., April 15 /PRNewswire/ -- On Assignment (NASDAQ: ASGN) today reported a 153 percent increase in its net income for the first quarter ended March 31, 1993, to $521,000, or $.11 per share, compared to $206,000, or $.05 per share, for the same period a year ago. Revenues for the quarter increased 28 percent to $8,909,000, compared to $6,963,000 for the same period a year ago. This marks the company's 15th consecutive quarter of profitability.
 Earnings per share for the quarter ended March 31, 1993, reflect the increase in the number of shares outstanding as a result of the company's initial public offering completed in September 1992.
 On Assignment Inc., through its operating division, Lab Support, is a leading nationwide provider of temporary science professionals to laboratories in the biotechnology, environmental, chemical, pharmaceutical, food and beverage and petrochemical industries. Lab Support has a network of 27 branches located across the United States.
 The company's stock is traded on the NASDAQ National Market System under the symbol ASGN.
 ON ASSIGNMENT INC.
 Statements of Income
 (Unaudited)
 (In thousands of dollars, except per share amounts)
 Three months ended
 March 31,
 1993 1992
 Total revenues $8,909 $6,963 +28 pct
 Net income $521 $206 +153 pct
 Net income per share $.11 $.05 +120 pct
 Weighted average shares
 outstanding 4,847 4,571 +6 pct
 Summary Balance Sheet Data
 As of March 31,
 1993 1992
 Cash & cash equivalents $3,802 $1,000 +280 pct
 Working capital 6,641 3,336 +99 pct
 Total assets 9,015 5,413 +67 pct
 Long-term liabilities 0 0
 Stockholders' equity 7,509 4,145 +81 pct
 -0- 4/15/93
 /CONTACT: Tad Czyzewski, senior VP & CFO of On Assignment, 818-716-8990/
 (ASGN)


CO: On Assignment Inc. ST: California IN: SU: ERN

JL-JB -- LA014 -- 6290 04/15/93 13:02 EDT
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Publication:PR Newswire
Date:Apr 15, 1993
Words:308
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