TALX Says Business Remains Robust During First Half Of Fiscal Third Quarter; Current Activity Levels Keep Company's Financial Outlook in Line With Previous Guidance.Business Editors
ST. LOUIS--(BUSINESS WIRE)--Nov. 21, 2002
TALX Corporation (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :TALX), a leading business process outsourcer of 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. and payroll services, today announced that business activity in the first half of the third quarter ending December 31, 2002 remains strong and is above the activity levels of the September quarter.
The company's strategy of cross-selling its portfolio of services to existing customers is seeing solid results. For year-to-date through mid-November, more than 25 TALX clients have added over $4.7 million in additional TALX services. "Today's enterprises are looking to reduce the number of vendor relationships and data interfaces that they manage. By offering multiple cost-reducing services from a single data exchange, TALX is actively making it possible for our clients to achieve this goal," said Mike Smith, vice president of market development.
In UC eXpress(SM) services, new business sales are up notably, with the number of new contract signings in the first half of the current quarter already equal to the number of contracts signed during the entire second quarter. "As a result of our focused sales efforts and the market's favorable fa·vor·a·ble
1. Advantageous; helpful: favorable winds.
2. Encouraging; propitious: a favorable diagnosis.
3. response to our value-added tax value-added tax (VAT), levy imposed on business at all levels of the manufacture and production of a good or service and based on the increase in price, or value, provided by each level. planning services, we are expecting positive quarter-over-quarter revenue growth in UC eXpress for the December quarter," said Bill Canfield can·field
A form of solitaire.
[After Richard Albert Canfield (1855-1914), American gambler.]
Noun 1. , president and chief executive officer. "We also continue to consolidate operations, where appropriate, in order to drive operating margins Operating Margin
A ratio used to measure a company's pricing strategy and operating efficiency.
Calculated by: higher."
In The Work Number(R), America's leading automated employment and income verification service, average daily transactions have increased 8 percent in the first half of the fiscal third quarter compared with the second quarter. With the holidays, the fiscal third quarter is the shortest of the year, at only 59.5 business days, a 4 percent decline from the sixty-two days in the second quarter. "Our transaction rates have been favorably impacted by our recently introduced Enterprise Class service as well as strong mortgage refinancing Refinancing
An extension and/or increase in amount of existing debt. activity," said Jackie Engel, director of marketing. "The clients in our Enterprise Class - our most active users -- are realizing much higher growth rates Growth Rates
The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures.
Remember, historically high growth rates don't always mean a high rate of growth looking into the future. than The Work Number overall, with certain clients doubling or even tripling their transaction volume since moving to this new level of service. We are pleased that our service enhancements for our new Enterprise Class verifiers are helping to drive our transaction volumes higher while also simplifying the employment verification process for our clients," stated Engel.
"Based on the robust activity levels of the first half of our fiscal third quarter, I believe we are tracking in line with our previous financial guidance," said Canfield.
About UC eXpress
UC eXpress offers complete unemployment and cost management services, from unemployment claims processing to unemployment tax rate assessment and tax consulting. Using advanced in-house systems, document imaging and web access, UC eXpress services speed the processing of unemployment claims for its clients. By protesting invalid and improper charges to employers' tax accounts, UC eXpress services save clients' tax dollars. In addition, UC eXpress services feature expert hearing consultations using its in-house staff of hearing consultants and attorneys. Since UC eXpress offers a choice of Employer Tax Services, clients can utilize any or all of the services designed to reduce employment tax costs tax costs n. a motion to contest a claim for court costs submitted by a prevailing party in a lawsuit. It is called a "Motion to Tax Costs" and asks the judge to deny or reduce claimed costs. . UC eXpress professional staff offers short or long-term support for the burdens and complexities facing clients' payroll tax Payroll Tax
Tax an employer withholds and/or pays on behalf of their employees based on the wage or salary of the employee. In most countries, including the U.S., both state and federal authorities collect some form of payroll tax. departments. More information is available on the UC eXpress website at www.ucexpress.com.
About The Work Number
The Work Number is America's leading employment and income verification service. The database has more than 70 million employee records under contract from more than 800 organizations nationwide. More than 35,000 mortgage bankers Mortgage Banker
A company, individual or institution that originates, sells and services mortgage loans.
Don't confuse a mortgage banker with a mortgage broker. , lenders, Social Services social services
welfare services provided by local authorities or a state agency for people with particular social needs
social services npl → servicios mpl sociales agencies and other verifiers regularly use The Work Number each month to obtain highly accurate and complete information on applicants. The database is updated directly form the employers' payroll records payroll record,
n a printed form on which detailed records are kept of the amounts of money paid to auxiliaries. The record has columns for all the necessary tax deductions so that a detailed record is available for tax reporting and cost accounting. every pay period. The Work Number is available on the Web at www.theworknumber.com.
About TALX Corporation
TALX Corporation is a leading business process outsourcer of human resources, benefits and payroll services. TALX holds a leadership position in two key employment-related services -- automated employment and income verification services via The Work Number services and unemployment cost management services via UC eXpress. TALX also provides paperless payroll services, W-2 services, automated benefits enrollment and automated time entry services. Based in St. Louis, Missouri, TALX empowers user to complete transactions independently utilizing available multimedia including Web, interactive voice response, speech recognition, fax and e-mail. TALX Corporation common stock trades on the NASDAQ Stock Market Nasdaq stock market
The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol TALX. For more information about TALX Corporation, call 314-214-7000 or access the company's Web site at www.talx.com.
Statements in this press release expressing the expectations of management may be forward-looking and involve uncertainties. TALX risk factors are detailed in documents filed with the Securities and Exchange Commission.