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ON ASSIGNMENT INC. REPORTS SECOND QUARTER RESULTS

 CANOGA PARK, Calif., July 14 /PRNewswire/ -- On Assignment (NASDAQ: ASGN) today reported a 43 percent increase in its net income for the second quarter ended June 30, 1993, to $610,000, or $.12 per share, compared to $426,000, or $.09 per share, for the same period a year ago. Revenues for the quarter increased 20 percent to $9,591,000, compared to $8,021,000 for the same period a year ago. This marks the company's 16th consecutive quarter of profitability.
 Net income for the six months ended June 30, 1993, increased 79 percent to $1,131,000, or $.23 per share, compared to $632,000 or $.14 per share in 1992. Revenue for the six months increased 23 percent to $18,500,000, compared to $14,984,000 in 1992.
 Earnings per share for the quarter and six months ended June 30, 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's branch network encompasses 30 markets 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 Six Months Ended
 June 30, June 30,
 1993 1992 1993 1992
 Total revenues $9,591 $8,021 $18,500 $14,984
 Net income $610 $426 $1,131 $632
 Net income per share $.12 $.09 $.23 $.14
 Weighted average
 shares outstanding 4,903 4,551 4,875 4,561
 Summary Balance Sheet Data
 As of June 30,
 1993 1992
 Cash and cash equivalents $3,867 $832
 Working capital 7,208 3,613
 Total assets 9,504 5,976
 Long-term liabilities 0 0
 Stockholders' equity 8,273 4,590
 -0- 7/14/93
 /CONTACT: Tad Czyzewski, senior VP and CFO of On Assignment, 818-712-6102/
 (ASGN)


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

EH-LM -- LA029 -- 1523 07/14/93 14:56 EDT
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Publication:PR Newswire
Date:Jul 14, 1993
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