||1901 Ulmerton Road, Suite 300
Clearwater, Florida 33762-2317
|FOR IMMEDIATE RELEASE
Thursday, November 3, 2005
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 companys
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
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