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Ablest Inc (46653) SEC Filing 10-Q Quarterly report for the period ending Sunday, April 2, 2006

Ablest Inc

CIK: 46653
 

Exhibit 99.1
(ABLEST LOGO)
     
 
  1511 N. Westshore Blvd, Suite 900
FOR IMMEDIATE RELEASE
  Tampa, Florida 33607
Wednesday May 16, 2006
  (813) 830-7700
 
  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. Ablest’s 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 company’s 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.

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CIK: 46653
Form Type: 10-Q Quarterly Report
Accession Number: 0000950144-06-005133
Submitted to the SEC: Wed May 17 2006 1:28:24 PM EST
Accepted by the SEC: Wed May 17 2006
Period: Sunday, April 2, 2006
Industry: Help Supply Services

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