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Ablest Inc (46653) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 25, 2005

Ablest Inc

CIK: 46653
 

Exhibit 99.1
     
(ABLEST LOGO)
  1901 Ulmerton Road, Suite 300
Clearwater, Florida 33762-2317
(727) 299-1200
www.ablest.com
FOR IMMEDIATE RELEASE
Thursday, November 3, 2005
  SYMBOL:      AIH    
TRADED:     AMEX
ABLEST ANNOUNCES THIRD QUARTER RESULTS
     CLEARWATER, Fla., Nov. 3 — Ablest Inc. (Amex: AIH) today announced that revenue for the fiscal third quarter ended September 25, 2005, increased 16.6 percent to $34.9 million from revenue of $29.9 million in the fiscal third quarter of 2004. Net income was $367,000 or $0.13 per diluted share, compared to net income of $588,000 or $0.20 per diluted share for the similar period last year, reflecting a $290,000 pretax charge related to a settlement agreement with the company’s former chief financial officer.
     Revenues for the first nine months of fiscal 2005 increased 19.3 percent to $98.5 million from $82.5 million in the corresponding period of the prior fiscal year. For the nine months ended September 25, 2005, the company reported net income of $1.2 million or $0.41 per diluted share compared to net income of $377,000 equal to $0.13 per diluted share for the first nine months of fiscal 2004.
     Kurt R. Moore, president and chief executive officer, said, “Ablest branches opened in 2004 and 2005 contributed over half of the $16 million year-to-date increase in revenue. Our associates’ hard work and commitment to the Ablest business model are creating results which allow us to move forward with our expansion plans.”
     Ablest Inc. provides its clients with staffing solutions, managed services and vendor-on-premise (VOP) programs. Staffing solutions include clerical, industrial and information technology personnel provided through Ablest Staffing Services and Ablest Technology Services. Ablest supplies more than 30,000 field employees and consultants to more than 3,500 businesses annually through 55 locations in the Eastern and Southwestern United States.
     Statements made in this news release, other than those concerning historical information, should be considered forward-looking and subject to certain risks and uncertainties, which could cause actual results to differ materially from those projected. Readers should carefully review and consider disclosures, including periodic reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission, which attempt to advise interested parties of the factors which affect the Company’s business.
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The following information was filed by Ablest Inc on Thursday, November 3, 2005 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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Ablest Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2005 10-K Annual Report includes:

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SEC Filing Tools
CIK: 46653
Form Type: 10-Q Quarterly Report
Accession Number: 0000950144-05-011246
Submitted to the SEC: Mon Nov 07 2005 4:50:33 PM EST
Accepted by the SEC: Mon Nov 07 2005
Period: Sunday, September 25, 2005
Industry: Help Supply Services

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