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Exhibit 99.1
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1511 N. Westshore Blvd., Suite 900 Tampa, Florida 33607 (813) 830-7700 www.ablest.com |
FOR IMMEDIATE RELEASE
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SYMBOL: | AIH | ||
Friday, November 10, 2006
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TRADED: | AMEX |
ABLEST INC. REPORTS INCREASED NET INCOME FOR THIRD QUARTER
TAMPA, Fla., Nov. 10 — Ablest Inc. (Amex: AIH) today reported that net income for the fiscal
third quarter ended October 1, 2006 increased to $396,000 or $0.13 per diluted share compared to
$367,000 or $0.13 per diluted share for the similar period last year. Revenues were $34.7 million
compared to $34.9 million in the 2005 third quarter.
For the first 40 weeks of fiscal 2006 revenues increased 6.5 percent to $104.9 million from
$98.5 million in the corresponding 39-week period of the prior year. Net income was $1.0 million or
$0.35 per diluted share compared to $1.2 million equal to $0.41 cents per diluted share for the 39
weeks ended September 25, 2005. Increased selling, general and administrative expenses relating to
both new offices and sales staff additions contributed to this reduction in 2006 net income as
compared to the prior year.
Kurt R. Moore, president and chief executive officer, said, “Third quarter 2006 revenues were
essentially flat compared to the third quarter 2005 reflecting both the slowdown we are seeing in
certain industries such as home building, furniture and consumer products and also our selective
paring of customers not meeting our margin expectations. While 2006 year-to-date revenue increased
only modestly, gross profit increased 10.6 percent versus the year-ago third quarter level and was
up 7.2 percent over the previous quarter’s gross profit due to our strategy execution and servicing
efforts to improve pricing and margins across the company.”
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 Divisions. Staffing Services offers 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
offers 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 60 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.
MORE . . .
The following information was filed by Ablest Inc on Monday, November 13, 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.
View differences made from one quarter to another to evaluate Ablest Inc's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Ablest Inc.
46653 Quarterly Reports
- 10-Q Quarterly Report May 2007
-
10-Q Quarterly Report November 2006
- 10-Q Quarterly Report August 2006
- 10-Q Quarterly Report May 2006
- 10-Q Quarterly Report November 2005
