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Share Name | Share Symbol | Market | Type |
---|---|---|---|
ASGN Inc | NYSE:ASGN | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-1.78 | -1.80% | 96.905 | 99.03 | 96.50 | 98.20 | 156,854 | 20:15:55 |
x
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
o
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Delaware
|
95-4023433
|
||||
(State of Incorporation)
|
(I.R.S. Employer Identification No.)
|
||||
|
|
||||
26745 Malibu Hills Road, Calabasas, CA
|
91301
|
||||
(Address of principal executive offices)
|
(Zip Code)
|
||||
|
|
Large accelerated filer
x
|
Accelerated filer
o
|
Non-accelerated filer
o
|
Smaller reporting company
o
|
ON ASSIGNMENT, INC. AND SUBSIDIARIES
INDEX
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
2016
|
|
December 31,
2015
|
||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
28,369
|
|
|
$
|
23,869
|
|
Accounts receivable, net of allowance of $7,284 and $6,682, respectively
|
378,087
|
|
|
354,808
|
|
||
Prepaid expenses and income taxes
|
8,849
|
|
|
12,686
|
|
||
Workers' compensation receivable
|
13,278
|
|
|
13,238
|
|
||
Other current assets
|
3,585
|
|
|
9,607
|
|
||
Total current assets
|
432,168
|
|
|
414,208
|
|
||
Property and equipment, net
|
54,481
|
|
|
53,196
|
|
||
Goodwill
|
875,657
|
|
|
874,906
|
|
||
Identifiable intangible assets, net
|
408,099
|
|
|
417,925
|
|
||
Other non-current assets
|
6,650
|
|
|
7,072
|
|
||
Total assets
|
$
|
1,777,055
|
|
|
$
|
1,767,307
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
6,164
|
|
|
$
|
9,132
|
|
Accrued payroll and contract professional pay
|
110,886
|
|
|
88,100
|
|
||
Workers’ compensation loss reserves
|
14,910
|
|
|
15,020
|
|
||
Income taxes payable
|
3,157
|
|
|
673
|
|
||
Other current liabilities
|
40,637
|
|
|
47,425
|
|
||
Total current liabilities
|
175,754
|
|
|
160,350
|
|
||
Long-term debt
|
723,219
|
|
|
755,508
|
|
||
Deferred income tax liabilities
|
61,612
|
|
|
61,539
|
|
||
Other long-term liabilities
|
5,033
|
|
|
5,116
|
|
||
Total liabilities
|
965,618
|
|
|
982,513
|
|
||
Commitments and contingencies (Note 7)
|
|
|
|
|
|
||
Stockholders’ equity:
|
|
|
|
||||
Preferred stock, $0.01 par value, 1,000,000 shares authorized, no shares issued
|
—
|
|
|
—
|
|
||
Common stock, $0.01 par value, 75,000,000 shares authorized, 53,344,395 and 53,024,972 issued and outstanding, respectively
|
533
|
|
|
530
|
|
||
Paid-in capital
|
550,755
|
|
|
542,859
|
|
||
Retained earnings
|
266,968
|
|
|
249,567
|
|
||
Accumulated other comprehensive loss
|
(6,819
|
)
|
|
(8,162
|
)
|
||
Total stockholders’ equity
|
811,437
|
|
|
784,794
|
|
||
Total liabilities and stockholders’ equity
|
$
|
1,777,055
|
|
|
$
|
1,767,307
|
|
|
Three Months Ended
|
||||||
March 31,
|
|||||||
|
2016
|
|
2015
|
||||
Revenues
|
$
|
582,040
|
|
|
$
|
430,045
|
|
Costs of services
|
394,258
|
|
|
294,170
|
|
||
Gross profit
|
187,782
|
|
|
135,875
|
|
||
Selling, general and administrative expenses
|
139,881
|
|
|
105,935
|
|
||
Amortization of intangible assets
|
10,144
|
|
|
4,869
|
|
||
Operating income
|
37,757
|
|
|
25,071
|
|
||
Interest expense, net
|
(9,025
|
)
|
|
(3,067
|
)
|
||
Income before income taxes
|
28,732
|
|
|
22,004
|
|
||
Provision for income taxes
|
11,384
|
|
|
8,981
|
|
||
Income from continuing operations
|
17,348
|
|
|
13,023
|
|
||
Gain on sale of discontinued operations, net of income taxes
|
—
|
|
|
25,703
|
|
||
Income from discontinued operations, net of income taxes
|
53
|
|
|
409
|
|
||
Net income
|
$
|
17,401
|
|
|
$
|
39,135
|
|
|
|
|
|
||||
Basic earnings per common share:
|
|
|
|
||||
Continuing operations
|
$
|
0.33
|
|
|
$
|
0.25
|
|
Discontinued operations
|
—
|
|
|
0.51
|
|
||
Net income
|
$
|
0.33
|
|
|
$
|
0.76
|
|
|
|
|
|
||||
Diluted earnings per common share:
|
|
|
|
||||
Continuing operations
|
$
|
0.32
|
|
|
$
|
0.25
|
|
Discontinued operations
|
—
|
|
|
0.50
|
|
||
Net income
|
$
|
0.32
|
|
|
$
|
0.75
|
|
|
|
|
|
||||
Number of shares and share equivalents used to calculate earnings per share:
|
|
|
|
||||
Basic
|
53,147
|
|
|
51,519
|
|
||
Diluted
|
53,644
|
|
|
52,209
|
|
||
|
|
|
|
||||
Reconciliation of net income to comprehensive income:
|
|
|
|
||||
Net income
|
$
|
17,401
|
|
|
$
|
39,135
|
|
Changes in fair value of derivative, net of tax
|
—
|
|
|
47
|
|
||
Foreign currency translation adjustment
|
1,343
|
|
|
(3,724
|
)
|
||
Comprehensive income
|
$
|
18,744
|
|
|
$
|
35,458
|
|
|
Three Months Ended
|
||||||
March 31,
|
|||||||
|
2016
|
|
2015
|
||||
Cash Flows from Operating Activities:
|
|
|
|
||||
Net income
|
$
|
17,401
|
|
|
$
|
39,135
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
||||
Gain on sale of discontinued operations, net of income taxes
|
—
|
|
|
(25,703
|
)
|
||
Depreciation and amortization
|
15,427
|
|
|
8,665
|
|
||
Stock-based compensation
|
6,924
|
|
|
3,954
|
|
||
Gross excess tax benefits from stock-based compensation
|
(914
|
)
|
|
(1,643
|
)
|
||
Workers’ compensation provision
|
549
|
|
|
586
|
|
||
Other
|
4,308
|
|
|
1,930
|
|
||
Changes in operating assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
(25,362
|
)
|
|
(14,584
|
)
|
||
Prepaid expenses and income taxes
|
3,847
|
|
|
7,954
|
|
||
Accounts payable
|
(2,290
|
)
|
|
205
|
|
||
Accrued payroll and contract professional pay
|
22,640
|
|
|
3,160
|
|
||
Income taxes payable
|
3,067
|
|
|
(539
|
)
|
||
Workers’ compensation loss reserves
|
(699
|
)
|
|
(309
|
)
|
||
Other
|
(7,584
|
)
|
|
(2,868
|
)
|
||
Net cash provided by operating activities
|
37,314
|
|
|
19,943
|
|
||
Cash Flows from Investing Activities:
|
|
|
|
||||
Cash paid for property and equipment
|
(7,282
|
)
|
|
(8,000
|
)
|
||
Cash received from sale of discontinued operations, net
|
6,000
|
|
|
114,884
|
|
||
Other
|
176
|
|
|
12
|
|
||
Net cash provided by (used in) investing activities
|
(1,106
|
)
|
|
106,896
|
|
||
Cash Flows from Financing Activities:
|
|
|
|
||||
Principal payments of long-term debt
|
(33,000
|
)
|
|
(80,563
|
)
|
||
Proceeds from option exercises and employee stock purchase plan
|
4,023
|
|
|
3,555
|
|
||
Payment of employment taxes related to release of restricted stock awards
|
(3,590
|
)
|
|
(3,991
|
)
|
||
Gross excess tax benefits from stock-based compensation
|
914
|
|
|
1,643
|
|
||
Repurchase of common stock
|
—
|
|
|
(1,645
|
)
|
||
Debt issuance or amendment costs
|
—
|
|
|
(486
|
)
|
||
Net cash used in financing activities
|
(31,653
|
)
|
|
(81,487
|
)
|
||
Effect of exchange rate changes on cash and cash equivalents
|
(55)
|
|
|
(703)
|
|
||
Net Increase in Cash and Cash Equivalents
|
4,500
|
|
|
44,649
|
|
||
Cash and Cash Equivalents at Beginning of Year
(1)
|
23,869
|
|
|
31,714
|
|
||
Cash and Cash Equivalents at End of Period
|
$
|
28,369
|
|
|
$
|
76,363
|
|
(1)
|
Cash and cash equivalents at December 31, 2014 include $2.9 million from the Physician Segment, which was sold on February 1, 2015 (see "Note
4. Discontinued Operations
").
|
Supplemental Disclosure of Cash Flow Information
|
|
|
|
||||
Cash paid for:
|
|
|
|
||||
Income taxes
|
$
|
3,926
|
|
|
$
|
1,142
|
|
Interest
|
$
|
7,261
|
|
|
$
|
2,695
|
|
Supplemental Disclosure of Non-Cash Transactions
|
|
|
|
||||
Acquisition of property and equipment through accounts payable
|
$
|
287
|
|
|
$
|
1,011
|
|
|
Creative Circle
|
|
LabResource
|
||||
Cash
|
$
|
4,840
|
|
|
$
|
187
|
|
Accounts receivable
|
34,386
|
|
|
1,643
|
|
||
Prepaid expenses and other current assets
|
4,462
|
|
|
—
|
|
||
Property and equipment
|
5,077
|
|
|
12
|
|
||
Goodwill
|
358,029
|
|
|
6,449
|
|
||
Identifiable intangible assets
|
194,500
|
|
|
7,528
|
|
||
Other
|
651
|
|
|
—
|
|
||
Total assets acquired
|
$
|
601,945
|
|
|
$
|
15,819
|
|
|
|
|
|
||||
Current liabilities
|
$
|
12,254
|
|
|
$
|
1,482
|
|
Other
|
—
|
|
|
1,882
|
|
||
Total liabilities assumed
|
12,254
|
|
|
3,364
|
|
||
Total purchase price
(1) (2)
|
$
|
589,691
|
|
|
$
|
12,455
|
|
(1)
|
Excluding cash acquired and a $0.9 million adjustment for net working capital in excess of the targeted amount (thereby increasing the actual purchase price paid), the purchase price for Creative Circle was $584.0 million as described in the discussion above.
|
(2)
|
Excluding cash acquired and a $0.4 million adjustment for net working capital that was less than the targeted amount (thereby reducing the actual purchase price paid), the purchase price for LabResource was $12.7 million as described in the discussion above.
|
Revenues
|
$
|
494,708
|
|
Income from continuing operations
|
$
|
13,955
|
|
Net income
|
$
|
40,067
|
|
|
|
||
Basic earnings per share:
|
|
||
Income from continuing operations
|
$
|
0.27
|
|
Net income
|
$
|
0.77
|
|
|
|
||
Diluted earnings per share:
|
|
||
Income from continuing operations
|
$
|
0.26
|
|
Net income
|
$
|
0.76
|
|
|
|
||
Number of shares and share equivalents used to calculate earnings per share:
|
|
||
Basic
|
52,314
|
|
|
Diluted
|
53,046
|
|
|
Three Months Ended
|
||||||
|
March 31,
|
||||||
|
2016
|
|
2015
|
||||
Net cash provided by (used in) operating activities
|
$
|
53
|
|
|
$
|
(1,778
|
)
|
|
|
|
|
||||
Net cash provided by investing activities:
|
|
|
|
||||
Cash received from sale of discontinued operations, net
|
$
|
6,000
|
|
|
$
|
114,884
|
|
Other
|
—
|
|
|
(14
|
)
|
||
Total cash provided by investing activities
|
$
|
6,000
|
|
|
$
|
114,870
|
|
|
Three Months Ended
|
||||||
|
March 31,
|
||||||
|
2016
|
|
2015
|
||||
Revenues
|
$
|
—
|
|
|
$
|
12,068
|
|
Costs of services
|
—
|
|
|
8,653
|
|
||
Gross profit
|
—
|
|
|
3,415
|
|
||
Selling, general and administrative expenses
|
(85
|
)
|
|
2,641
|
|
||
Amortization of intangible assets
|
—
|
|
|
155
|
|
||
Income before income taxes
|
85
|
|
|
619
|
|
||
Provision for income taxes
|
32
|
|
|
210
|
|
||
Income from discontinued operations, net of income taxes
|
$
|
53
|
|
|
$
|
409
|
|
|
Apex Segment
|
|
Oxford Segment
|
|
Total
|
||||||
Balance as of December 31, 2014
|
$
|
287,951
|
|
|
$
|
224,109
|
|
|
$
|
512,060
|
|
Creative Circle Acquisition
|
358,029
|
|
|
—
|
|
|
358,029
|
|
|||
LabResource Acquisition
|
—
|
|
|
6,449
|
|
|
6,449
|
|
|||
Translation adjustment
|
(1,363
|
)
|
|
(269
|
)
|
|
(1,632
|
)
|
|||
Balance as of December 31, 2015
|
644,617
|
|
|
230,289
|
|
|
874,906
|
|
|||
Translation adjustment
|
355
|
|
|
396
|
|
|
751
|
|
|||
Balance as of March 31, 2016
|
$
|
644,972
|
|
|
$
|
230,685
|
|
|
$
|
875,657
|
|
|
|
|
As of March 31, 2016
|
|
As of December 31, 2015
|
||||||||||||||||||||
|
Estimated Useful Life
|
|
Gross Carrying Amount
|
|
Accumulated Amortization
|
|
Net Carrying Amount
|
|
Gross Carrying Amount
|
|
Accumulated Amortization
|
|
Net Carrying Amount
|
||||||||||||
Subject to amortization:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Customer relationships
|
2 - 10 years
|
|
$
|
196,780
|
|
|
$
|
80,781
|
|
|
$
|
115,999
|
|
|
$
|
196,472
|
|
|
$
|
74,640
|
|
|
$
|
121,832
|
|
Contractor relationships
|
2 - 5 years
|
|
69,813
|
|
|
42,991
|
|
|
26,822
|
|
|
69,764
|
|
|
40,124
|
|
|
29,640
|
|
||||||
Non-compete agreements
|
2 - 7 years
|
|
10,889
|
|
|
3,626
|
|
|
7,263
|
|
|
10,874
|
|
|
3,163
|
|
|
7,711
|
|
||||||
In-use software
|
6 years
|
|
18,900
|
|
|
7,304
|
|
|
11,596
|
|
|
18,900
|
|
|
6,516
|
|
|
12,384
|
|
||||||
Favorable contracts
|
5 years
|
|
900
|
|
|
242
|
|
|
658
|
|
|
900
|
|
|
172
|
|
|
728
|
|
||||||
|
|
|
297,282
|
|
|
134,944
|
|
|
162,338
|
|
|
296,910
|
|
|
124,615
|
|
|
172,295
|
|
||||||
Not subject to amortization:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Trademarks
|
|
|
245,761
|
|
|
—
|
|
|
245,761
|
|
|
245,630
|
|
|
—
|
|
|
245,630
|
|
||||||
Total
|
|
|
$
|
543,043
|
|
|
$
|
134,944
|
|
|
$
|
408,099
|
|
|
$
|
542,540
|
|
|
$
|
124,615
|
|
|
$
|
417,925
|
|
2016
|
$
|
29,515
|
|
2017
|
33,054
|
|
|
2018
|
28,928
|
|
|
2019
|
22,016
|
|
|
2020
|
14,515
|
|
|
Thereafter
|
34,310
|
|
|
|
$
|
162,338
|
|
|
March 31,
2016
|
|
December 31,
2015
|
||||
$150 million revolving credit facility, due June 2020
|
$
|
34,000
|
|
|
$
|
50,000
|
|
$825 million Term B loan facility, due June 2022
|
707,000
|
|
|
724,000
|
|
||
|
741,000
|
|
|
774,000
|
|
||
Unamortized deferred loan costs
|
(17,781
|
)
|
|
(18,492
|
)
|
||
|
$
|
723,219
|
|
|
$
|
755,508
|
|
|
Three Months Ended
|
||||||
|
March 31,
|
||||||
|
2016
|
|
2015
|
||||
Balance at beginning of period
|
$
|
(20,981
|
)
|
|
$
|
(3,000
|
)
|
Additions for acquisitions
|
—
|
|
|
—
|
|
||
Payments on contingent consideration
|
—
|
|
|
—
|
|
||
Fair value adjustment
|
(613
|
)
|
|
—
|
|
||
Foreign currency translation adjustment
|
—
|
|
|
—
|
|
||
Balance at end of period
|
$
|
(21,594
|
)
|
|
$
|
(3,000
|
)
|
|
Three Months Ended
|
||||
|
March 31,
|
||||
|
2016
|
|
2015
|
||
Weighted average number of common shares outstanding used to compute basic earnings per share
|
53,147
|
|
|
51,519
|
|
Dilutive effect of stock-based awards
|
497
|
|
|
690
|
|
Number of shares used to compute diluted earnings per share
|
53,644
|
|
|
52,209
|
|
|
Three Months Ended
|
||||||||||||||
|
March 31, 2016
|
||||||||||||||
|
Apex
|
|
Oxford
|
|
Corporate
(1)
|
|
Total
|
||||||||
Revenues
|
$
|
433,155
|
|
|
$
|
148,885
|
|
|
$
|
—
|
|
|
$
|
582,040
|
|
Gross profit
|
126,144
|
|
|
61,638
|
|
|
—
|
|
|
187,782
|
|
||||
Operating income
|
39,986
|
|
|
12,760
|
|
|
(14,989
|
)
|
|
37,757
|
|
||||
Amortization
|
8,590
|
|
|
1,554
|
|
|
—
|
|
|
10,144
|
|
|
Three Months Ended
|
||||||||||||||
|
March 31, 2015
|
||||||||||||||
|
Apex
|
|
Oxford
(2)
|
|
Corporate
(1)
|
|
Total
|
||||||||
Revenues
|
$
|
295,971
|
|
|
$
|
134,074
|
|
|
$
|
—
|
|
|
$
|
430,045
|
|
Gross profit
|
80,152
|
|
|
55,723
|
|
|
—
|
|
|
135,875
|
|
||||
Operating income
|
22,896
|
|
|
12,713
|
|
|
(10,538
|
)
|
|
25,071
|
|
||||
Amortization
|
3,522
|
|
|
1,347
|
|
|
—
|
|
|
4,869
|
|
(1)
|
Corporate expenses primarily consist of consolidated stock-based compensation expense, compensation for corporate employees, acquisition, integration and strategic planning expenses, public company expenses, and depreciation expense for corporate assets.
|
(2)
|
During the quarter ended June 30, 2015, due to management changes, the Company realigned its former Life Sciences Europe Segment to be included in the Oxford Segment. Prior periods have been adjusted to reflect this change.
|
|
Three Months Ended
|
||||||||||||
|
March 31,
|
||||||||||||
|
2016
|
|
%
|
|
2015
|
|
%
|
||||||
Revenues:
|
|
|
|
|
|
|
|
||||||
Assignment
|
$
|
549,552
|
|
|
94.4
|
%
|
|
$
|
406,141
|
|
|
94.4
|
%
|
Permanent placement
|
32,488
|
|
|
5.6
|
%
|
|
23,904
|
|
|
5.6
|
%
|
||
|
$
|
582,040
|
|
|
100.0
|
%
|
|
$
|
430,045
|
|
|
100.0
|
%
|
|
|
Three Months Ended March 31,
|
|
|
||||||||||||||||||||||
|
|
As Reported
|
|
As Adjusted
|
|
Pro Forma
|
|
Year-Over-Year Growth Rates
|
||||||||||||||||||
|
|
2016
|
|
2015
|
|
2015
|
|
As Reported
|
|
Pro Forma
|
|
Constant Currency
|
||||||||||||||
|
|
(Dollars in millions)
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Revenues by segment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Apex:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Assignment
|
|
$
|
422.1
|
|
|
$
|
291.7
|
|
|
$
|
348.9
|
|
|
44.7
|
%
|
|
|
|
21.0
|
%
|
|
|
|
21.0
|
%
|
|
Permanent placement
|
|
11.0
|
|
|
4.3
|
|
|
9.5
|
|
|
156.9
|
%
|
|
|
|
15.9
|
%
|
|
|
|
15.9
|
%
|
|
|||
|
|
433.1
|
|
|
296.0
|
|
|
358.4
|
|
|
46.4
|
%
|
|
|
|
20.8
|
%
|
|
|
|
20.8
|
%
|
|
|||
Oxford:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Assignment
|
|
127.4
|
|
|
114.4
|
|
|
116.6
|
|
|
11.3
|
%
|
|
|
|
9.3
|
%
|
|
|
|
9.7
|
%
|
|
|||
Permanent placement
|
|
21.5
|
|
|
19.6
|
|
|
19.7
|
|
|
9.4
|
%
|
|
|
|
9.1
|
%
|
|
|
|
9.1
|
%
|
|
|||
|
|
148.9
|
|
|
134.0
|
|
|
136.3
|
|
|
11.0
|
%
|
|
|
|
9.3
|
%
|
|
|
|
9.6
|
%
|
|
|||
Consolidated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Assignment
|
|
549.5
|
|
|
406.1
|
|
|
465.5
|
|
|
35.3
|
%
|
|
|
|
18.1
|
%
|
|
|
|
18.2
|
%
|
|
|||
Permanent placement
|
|
32.5
|
|
|
23.9
|
|
|
29.2
|
|
|
35.9
|
%
|
|
|
|
11.3
|
%
|
|
|
|
11.3
|
%
|
|
|||
|
|
$
|
582.0
|
|
|
$
|
430.0
|
|
|
$
|
494.7
|
|
|
35.3
|
%
|
|
|
|
17.7
|
%
|
|
|
|
17.8
|
%
|
|
Percentage of total revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Apex
|
|
74.4
|
%
|
|
68.8
|
%
|
|
72.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Oxford
|
|
25.6
|
%
|
|
31.2
|
%
|
|
27.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Assignment
|
|
94.4
|
%
|
|
94.4
|
%
|
|
94.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Permanent placement
|
|
5.6
|
%
|
|
5.6
|
%
|
|
5.9
|
%
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Domestic
|
|
95.3
|
%
|
|
95.5
|
%
|
|
95.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Foreign
|
|
4.7
|
%
|
|
4.5
|
%
|
|
4.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31,
|
|
|
||||||||||||||||
|
|
As Reported
|
|
As Adjusted
|
|
Pro Forma
|
|
Year-Over-Year Change
|
||||||||||||
|
|
2016
|
|
2015
|
|
2015
|
|
As Reported
|
|
Pro Forma
|
||||||||||
|
|
(Dollars in millions)
|
|
|
|
|
|
|
||||||||||||
Gross profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Apex
|
|
$
|
126.2
|
|
|
$
|
80.2
|
|
|
$
|
106.6
|
|
|
57.4
|
%
|
|
|
18.3
|
%
|
|
Oxford
|
|
61.6
|
|
|
55.7
|
|
|
56.5
|
|
|
10.6
|
%
|
|
|
9.1
|
%
|
|
|||
Consolidated
|
|
$
|
187.8
|
|
|
$
|
135.9
|
|
|
$
|
163.1
|
|
|
38.2
|
%
|
|
|
15.1
|
%
|
|
Gross margin
(1)
:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Apex
|
|
29.1
|
%
|
|
27.1
|
%
|
|
29.7
|
%
|
|
2.0
|
%
|
|
|
(0.6
|
)%
|
|
|||
Oxford
|
|
41.4
|
%
|
|
41.6
|
%
|
|
41.5
|
%
|
|
(0.2
|
)%
|
|
|
(0.1
|
)%
|
|
|||
Consolidated
|
|
32.3
|
%
|
|
31.6
|
%
|
|
33.0
|
%
|
|
0.7
|
%
|
|
|
(0.7
|
)%
|
|
|
ON ASSIGNMENT, INC.
|
|
|
|
|
Date: May 9, 2016
|
By:
|
/s/ Edward L. Pierce
|
|
|
Edward L. Pierce
|
|
|
Executive Vice President and Chief Financial Officer
|
|
|
(Principal Financial and Accounting Officer)
|
1 Year ASGN Chart |
1 Month ASGN Chart |
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