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ON ASSIGNMENT INC. REPORTS FOURTH QUARTER RESULTS

 CANOGA PARK, Calif., Jan. 18 /PRNewswire/ -- On Assignment (NASDAQ: ASGN) today reported a 121 percent increase in its net income for the fourth quarter ended Dec. 31, 1992, to $589,000, or $.12 per share, compared to $266,000, or $.06 per share, for the same period a year ago. Revenues for the quarter increased 26 percent to $9,024,000, compared to $7,177,000, for the same period a year ago. This marks the company's 14th consecutive quarter of profitability and sets new company records for revenues and earnings.
 Net income for the year ended Dec. 31, 1992, increased 60 percent to $1,760,000, or $.38 per share, compared to $1,099,000, or $.25 per share for 1991. Revenues for the year increased 25 percent to $32,662,000, compared to $26,152,000, for 1991.
 Earnings per share for the three months and the year ended Dec. 31, 1992, 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 division reached a new record of 1,074 employees on assignment during 1992.
 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 Year ended
 Dec. 31, Dec. 31,
 1992 1991 1992 1991
 Total revenues $9,024 $7,177 $32,662 $26,152
 Net income $589 $266 $1,760 $1,099
 Net income per share $.12 $.06 $.38 $.25
 Weighted average
 shares outstanding 4,821 4,375 4,644 4,389
 Summary Balance Sheet Data
 As of Dec. 31,
 1992 1991
 Cash and cash equivalents $2,708 $1,084
 Working capital 5,875 3,230
 Total assets 7,923 5,207
 Long-term liabilities 0 0
 Stockholders' equity 6,933 3,938
 -0- 1/18/93
 /CONTACT: Tad Czyzewski, senior VP and CFO of On Assignment, 818-716-8990/
 (ASGN)


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

EH-MS -- LA010 -- 5903 01/18/93 13:01 EST
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Publication:PR Newswire
Date:Jan 18, 1993
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