Exhibit 99.1
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1511 N. Westshore Blvd, Suite 900 |
FOR IMMEDIATE RELEASE
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Tampa, Florida 33607 |
Wednesday May 16, 2006
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(813) 830-7700 |
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www.ablest.com |
ABLEST INC. REPORTS IMPROVED REVENUE AND EARNINGS FOR FIRST QUARTER
TAMPA,
Fla., May 16 Ablest Inc. (Amex: AIH) today announced that revenue for the 14-week
fiscal first quarter ended April 2, 2006, increased 16.3 percent to $35.9 million from revenue of
$30.8 million in the 13-week fiscal first quarter of 2005. Net income increased 31.8 percent to
$348,000 or $0.12 per diluted share compared to net income of $264,000 or $0.09 per diluted share
for 2005.
Kurt R. Moore, president and chief executive officer, said, We are pleased with our first
quarter results. The employment and hiring markets were positive in the first quarter,
contributing to demand for both Staffing Services and Professional Services. We saw continued
success with our efforts to increase margins through the addition of customers in the mid to small
business sectors. In addition, our branch team execution is focused on our customer and employee
loyalty initiatives with good results.
About Ablest
Ablest is a leader in workforce services; creating and delivering local solutions that enable
companies to compete and win in an ever-changing business world. Services are provided through its
Staffing Services and Professional Services. Staffing Services offer customers a range of
employment services in the office and light industrial sectors including employee assessment and
selection, training, managed services and vendor-on-premise (VOP) programs. Professional Services
offer employment and consulting services in the Information Technology and Finance and Accounting
sectors. Ablests Services focus on improving customer performance in the areas of quality,
efficiency and cost-reduction within their workforce. Ablest supplies more than 37,000 field
employees and consultants to approximately 2,000 businesses annually through 56 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
companys business.
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The following information was filed by Ablest Inc on Wednesday, May 17, 2006 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.