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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 | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 102.54 | 0 | 01:00:00 |
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
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2016
|
|
December 31,
2015
|
||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
16,972
|
|
|
$
|
23,869
|
|
Accounts receivable, net of allowance of $8,035 and $6,682, respectively
|
393,843
|
|
|
354,808
|
|
||
Prepaid expenses and income taxes
|
5,896
|
|
|
12,686
|
|
||
Workers' compensation receivable
|
14,191
|
|
|
13,238
|
|
||
Other
|
3,580
|
|
|
9,607
|
|
||
Total current assets
|
434,482
|
|
|
414,208
|
|
||
Property and equipment, net
|
57,778
|
|
|
53,196
|
|
||
Goodwill
|
875,015
|
|
|
874,906
|
|
||
Identifiable intangible assets, net
|
388,061
|
|
|
417,925
|
|
||
Other non-current assets
|
6,824
|
|
|
7,072
|
|
||
Total assets
|
$
|
1,762,160
|
|
|
$
|
1,767,307
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
6,021
|
|
|
$
|
9,132
|
|
Accrued payroll and contract professional pay
|
113,513
|
|
|
88,100
|
|
||
Workers’ compensation loss reserves
|
15,999
|
|
|
15,020
|
|
||
Income taxes payable
|
13,538
|
|
|
673
|
|
||
Other
|
25,027
|
|
|
47,425
|
|
||
Total current liabilities
|
174,098
|
|
|
160,350
|
|
||
Long-term debt
|
658,642
|
|
|
755,508
|
|
||
Deferred income tax liabilities
|
61,730
|
|
|
61,539
|
|
||
Other long-term liabilities
|
6,450
|
|
|
5,116
|
|
||
Total liabilities
|
900,920
|
|
|
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, 53,155,568 and 53,024,972 issued and outstanding, respectively
|
531
|
|
|
530
|
|
||
Paid-in capital
|
561,684
|
|
|
542,859
|
|
||
Retained earnings
|
306,507
|
|
|
249,567
|
|
||
Accumulated other comprehensive loss
|
(7,482
|
)
|
|
(8,162
|
)
|
||
Total stockholders’ equity
|
861,240
|
|
|
784,794
|
|
||
Total liabilities and stockholders’ equity
|
$
|
1,762,160
|
|
|
$
|
1,767,307
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
September 30,
|
September 30,
|
||||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Revenues
|
$
|
629,401
|
|
|
$
|
572,123
|
|
|
$
|
1,819,529
|
|
|
$
|
1,487,491
|
|
Costs of services
|
422,281
|
|
|
380,719
|
|
|
1,222,541
|
|
|
1,001,678
|
|
||||
Gross profit
|
207,120
|
|
|
191,404
|
|
|
596,988
|
|
|
485,813
|
|
||||
Selling, general and administrative expenses
|
141,968
|
|
|
128,614
|
|
|
423,199
|
|
|
353,416
|
|
||||
Amortization of intangible assets
|
9,742
|
|
|
11,325
|
|
|
29,918
|
|
|
23,151
|
|
||||
Operating income
|
55,410
|
|
|
51,465
|
|
|
143,871
|
|
|
109,246
|
|
||||
Interest expense, net
|
(8,294
|
)
|
|
(9,543
|
)
|
|
(25,278
|
)
|
|
(17,346
|
)
|
||||
Write-off of loan costs
|
—
|
|
|
—
|
|
|
—
|
|
|
(3,751
|
)
|
||||
Income before income taxes
|
47,116
|
|
|
41,922
|
|
|
118,593
|
|
|
88,149
|
|
||||
Provision for income taxes
|
17,341
|
|
|
17,031
|
|
|
45,457
|
|
|
35,900
|
|
||||
Income from continuing operations
|
29,775
|
|
|
24,891
|
|
|
73,136
|
|
|
52,249
|
|
||||
Gain on sale of discontinued operations, net of income taxes
|
—
|
|
|
—
|
|
|
—
|
|
|
25,703
|
|
||||
Income (loss) from discontinued operations, net of income taxes
|
(7
|
)
|
|
34
|
|
|
37
|
|
|
360
|
|
||||
Net income
|
$
|
29,768
|
|
|
$
|
24,925
|
|
|
$
|
73,173
|
|
|
$
|
78,312
|
|
|
|
|
|
|
|
|
|
||||||||
Basic earnings per common share:
|
|
|
|
|
|
|
|
||||||||
Continuing operations
|
$
|
0.56
|
|
|
$
|
0.47
|
|
|
$
|
1.37
|
|
|
$
|
1.00
|
|
Discontinued operations
|
—
|
|
|
—
|
|
|
—
|
|
|
0.50
|
|
||||
Net income
|
$
|
0.56
|
|
|
$
|
0.47
|
|
|
$
|
1.37
|
|
|
$
|
1.50
|
|
|
|
|
|
|
|
|
|
||||||||
Diluted earnings per common share:
|
|
|
|
|
|
|
|
||||||||
Continuing operations
|
$
|
0.55
|
|
|
$
|
0.47
|
|
|
$
|
1.36
|
|
|
$
|
0.99
|
|
Discontinued operations
|
—
|
|
|
—
|
|
|
—
|
|
|
0.49
|
|
||||
Net income
|
$
|
0.55
|
|
|
$
|
0.47
|
|
|
$
|
1.36
|
|
|
$
|
1.48
|
|
|
|
|
|
|
|
|
|
||||||||
Number of shares and share equivalents used to calculate earnings per share:
|
|
|
|
|
|
|
|
||||||||
Basic
|
53,275
|
|
|
52,654
|
|
|
53,281
|
|
|
52,053
|
|
||||
Diluted
|
53,768
|
|
|
53,304
|
|
|
53,787
|
|
|
52,759
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Reconciliation of net income to comprehensive income:
|
|
|
|
|
|
|
|
||||||||
Net income
|
$
|
29,768
|
|
|
$
|
24,925
|
|
|
$
|
73,173
|
|
|
$
|
78,312
|
|
Changes in fair value of derivative, net of tax
|
—
|
|
|
—
|
|
|
—
|
|
|
122
|
|
||||
Foreign currency translation adjustment
|
420
|
|
|
290
|
|
|
680
|
|
|
(2,606
|
)
|
||||
Comprehensive income
|
$
|
30,188
|
|
|
$
|
25,215
|
|
|
$
|
73,853
|
|
|
$
|
75,828
|
|
|
Nine Months Ended
|
||||||
September 30,
|
|||||||
|
2016
|
|
2015
|
||||
Cash Flows from Operating Activities:
|
|
|
|
||||
Net income
|
$
|
73,173
|
|
|
$
|
78,312
|
|
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
|
46,171
|
|
|
35,495
|
|
||
Stock-based compensation
|
19,803
|
|
|
15,244
|
|
||
Provision for doubtful accounts and billing adjustments
|
8,678
|
|
|
7,491
|
|
||
Write-off of loan costs
|
—
|
|
|
3,751
|
|
||
Gross excess tax benefits from stock-based compensation
|
(2,559
|
)
|
|
(3,330
|
)
|
||
Fair value adjustment for contingent consideration
|
613
|
|
|
1,408
|
|
||
Workers’ compensation provision
|
1,939
|
|
|
1,623
|
|
||
Other
|
4,065
|
|
|
2,717
|
|
||
Changes in operating assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
(47,385
|
)
|
|
(54,713
|
)
|
||
Prepaid expenses and income taxes
|
6,840
|
|
|
6,583
|
|
||
Accounts payable
|
(3,525
|
)
|
|
(1,056
|
)
|
||
Accrued payroll and contract professional pay
|
25,352
|
|
|
25,451
|
|
||
Income taxes payable
|
15,070
|
|
|
(4,084
|
)
|
||
Workers’ compensation loss reserves
|
(1,913
|
)
|
|
(701
|
)
|
||
Payments of accrued earn-outs
|
(4,780
|
)
|
|
—
|
|
||
Other
|
(1,194
|
)
|
|
(1,191
|
)
|
||
Net cash provided by operating activities
|
140,348
|
|
|
87,297
|
|
||
Cash Flows from Investing Activities:
|
|
|
|
||||
Cash paid for property and equipment
|
(20,551
|
)
|
|
(18,177
|
)
|
||
Cash received from sale of discontinued operations, net
|
6,000
|
|
|
115,440
|
|
||
Cash paid for acquisitions, net of cash acquired
|
—
|
|
|
(552,794
|
)
|
||
Other
|
(787
|
)
|
|
16
|
|
||
Net cash used in investing activities
|
(15,338
|
)
|
|
(455,515
|
)
|
||
Cash Flows from Financing Activities:
|
|
|
|
||||
Principal payments of long-term debt
|
(106,000
|
)
|
|
(486,125
|
)
|
||
Proceeds from long-term debt
|
7,000
|
|
|
875,000
|
|
||
Proceeds from option exercises and employee stock purchase plan
|
9,458
|
|
|
6,398
|
|
||
Payment of employment taxes related to release of restricted stock awards
|
(5,968
|
)
|
|
(6,600
|
)
|
||
Gross excess tax benefits from stock-based compensation
|
2,559
|
|
|
3,330
|
|
||
Repurchase of common stock
|
(21,470
|
)
|
|
(1,646
|
)
|
||
Debt issuance or amendment costs
|
(889
|
)
|
|
(23,890
|
)
|
||
Payments of accrued earn-outs
|
(16,814
|
)
|
|
—
|
|
||
Net cash provided by (used in) financing activities
|
(132,124
|
)
|
|
366,467
|
|
||
Effect of exchange rate changes on cash and cash equivalents
|
217
|
|
|
(1,047)
|
|
||
Net Decrease in Cash and Cash Equivalents
|
(6,897
|
)
|
|
(2,798
|
)
|
||
Cash and Cash Equivalents at Beginning of Year
(1)
|
23,869
|
|
|
31,714
|
|
||
Cash and Cash Equivalents at End of Period
|
$
|
16,972
|
|
|
$
|
28,916
|
|
(1)
|
Cash and cash equivalents at January 1, 2015 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
|
$
|
23,974
|
|
|
$
|
30,595
|
|
Interest
|
$
|
20,798
|
|
|
$
|
14,741
|
|
Supplemental Disclosure of Non-Cash Transactions
|
|
|
|
||||
Acquisition of property and equipment through accounts payable
|
$
|
1,415
|
|
|
$
|
1,245
|
|
Unsettled repurchases of common stock
|
$
|
1,100
|
|
|
$
|
—
|
|
Revenues
|
$
|
1,601,437
|
|
Income from continuing operations
|
$
|
59,986
|
|
Net income
|
$
|
86,049
|
|
|
|
||
Basic earnings per share:
|
|
||
Income from continuing operations
|
$
|
1.14
|
|
Net income
|
$
|
1.64
|
|
|
|
||
Diluted earnings per share:
|
|
||
Income from continuing operations
|
$
|
1.13
|
|
Net income
|
$
|
1.62
|
|
|
|
||
Number of shares and share equivalents used to calculate earnings per share:
|
|
||
Basic
|
52,508
|
|
|
Diluted
|
53,213
|
|
|
Nine Months Ended
|
||||||
|
September 30,
|
||||||
|
2016
|
|
2015
|
||||
Net cash provided by (used in) operating activities
|
$
|
37
|
|
|
$
|
(1,778
|
)
|
|
|
|
|
||||
Net cash provided by investing activities:
|
|
|
|
||||
Cash received from sale of discontinued operations, net
|
$
|
6,000
|
|
|
$
|
115,440
|
|
Other
|
—
|
|
|
(14
|
)
|
||
Total cash provided by investing activities
|
$
|
6,000
|
|
|
$
|
115,426
|
|
Revenues
|
$
|
12,068
|
|
Costs of services
|
8,653
|
|
|
Gross profit
|
3,415
|
|
|
Selling, general and administrative expenses
|
2,757
|
|
|
Amortization of intangible assets
|
155
|
|
|
Income before income taxes
|
503
|
|
|
Provision for income taxes
|
143
|
|
|
Income from discontinued operations, net of income taxes
|
$
|
360
|
|
|
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
|
—
|
|
|
109
|
|
|
109
|
|
|||
Balance as of September 30, 2016
|
$
|
644,617
|
|
|
$
|
230,398
|
|
|
$
|
875,015
|
|
|
|
|
As of September 30, 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
|
|
$
|
196,681
|
|
|
$
|
92,906
|
|
|
$
|
103,775
|
|
|
$
|
196,472
|
|
|
$
|
74,640
|
|
|
$
|
121,832
|
|
Contractor relationships
|
2 - 5 years
|
|
69,797
|
|
|
48,133
|
|
|
21,664
|
|
|
69,764
|
|
|
40,124
|
|
|
29,640
|
|
||||||
Non-compete agreements
|
2 - 7 years
|
|
10,884
|
|
|
4,519
|
|
|
6,365
|
|
|
10,874
|
|
|
3,163
|
|
|
7,711
|
|
||||||
In-use software
|
6 years
|
|
18,900
|
|
|
8,879
|
|
|
10,021
|
|
|
18,900
|
|
|
6,516
|
|
|
12,384
|
|
||||||
Favorable contracts
|
5 years
|
|
900
|
|
|
383
|
|
|
517
|
|
|
900
|
|
|
172
|
|
|
728
|
|
||||||
|
|
|
297,162
|
|
|
154,820
|
|
|
142,342
|
|
|
296,910
|
|
|
124,615
|
|
|
172,295
|
|
||||||
Not subject to amortization:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Trademarks
|
|
|
245,719
|
|
|
—
|
|
|
245,719
|
|
|
245,630
|
|
|
—
|
|
|
245,630
|
|
||||||
Total
|
|
|
$
|
542,881
|
|
|
$
|
154,820
|
|
|
$
|
388,061
|
|
|
$
|
542,540
|
|
|
$
|
124,615
|
|
|
$
|
417,925
|
|
|
September 30,
2016
|
|
December 31,
2015
|
||||
$150 million revolving credit facility, due June 2020
|
$
|
4,000
|
|
|
$
|
50,000
|
|
$825 million Term B loan facility, due June 2022
|
671,000
|
|
|
724,000
|
|
||
|
675,000
|
|
|
774,000
|
|
||
Unamortized deferred loan costs
|
(16,358
|
)
|
|
(18,492
|
)
|
||
|
$
|
658,642
|
|
|
$
|
755,508
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
September 30,
|
September 30,
|
|||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Balance at beginning of period
|
$
|
(5,843
|
)
|
|
$
|
(17,326
|
)
|
|
$
|
(20,981
|
)
|
|
$
|
(3,000
|
)
|
Additions for acquisitions
|
—
|
|
|
—
|
|
|
—
|
|
|
(13,814
|
)
|
||||
Payments on contingent consideration
|
5,843
|
|
|
—
|
|
|
21,594
|
|
|
—
|
|
||||
Fair value adjustment
|
—
|
|
|
(896
|
)
|
|
(613
|
)
|
|
(1,408
|
)
|
||||
Balance at end of period
|
$
|
—
|
|
|
$
|
(18,222
|
)
|
|
$
|
—
|
|
|
$
|
(18,222
|
)
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||
|
September 30,
|
|
September 30,
|
||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||
Weighted average number of common shares outstanding used to compute basic earnings per share
|
53,275
|
|
|
52,654
|
|
|
53,281
|
|
|
52,053
|
|
Dilutive effect of stock-based awards
|
493
|
|
|
650
|
|
|
506
|
|
|
706
|
|
Number of shares used to compute diluted earnings per share
|
53,768
|
|
|
53,304
|
|
|
53,787
|
|
|
52,759
|
|
|
Three Months Ended
|
|
Three Months Ended
|
||||||||||||||||||||||||||||
|
September 30, 2016
|
|
September 30
, 2015
|
||||||||||||||||||||||||||||
|
Apex
|
|
Oxford
|
|
Corporate
(1)
|
|
Total
|
|
Apex
|
|
Oxford
|
|
Corporate
(1)
|
|
Total
|
||||||||||||||||
Revenues
|
$
|
473,546
|
|
|
$
|
155,855
|
|
|
$
|
—
|
|
|
$
|
629,401
|
|
|
$
|
422,632
|
|
|
$
|
149,491
|
|
|
$
|
—
|
|
|
$
|
572,123
|
|
Gross profit
|
143,681
|
|
|
63,439
|
|
|
—
|
|
|
207,120
|
|
|
129,232
|
|
|
62,172
|
|
|
—
|
|
|
191,404
|
|
||||||||
Operating income
|
53,982
|
|
|
14,429
|
|
|
(13,001
|
)
|
|
55,410
|
|
|
47,988
|
|
|
16,602
|
|
|
(13,125
|
)
|
|
51,465
|
|
||||||||
Amortization
|
8,590
|
|
|
1,152
|
|
|
—
|
|
|
9,742
|
|
|
9,732
|
|
|
1,593
|
|
|
—
|
|
|
11,325
|
|
|
Nine Months Ended
|
|
Nine Months Ended
|
||||||||||||||||||||||||||||
|
September 30, 2016
|
|
September 30
, 2015
|
||||||||||||||||||||||||||||
|
Apex
|
|
Oxford
|
|
Corporate
(1)
|
|
Total
|
|
Apex
|
|
Oxford
|
|
Corporate
(1)
|
|
Total
|
||||||||||||||||
Revenues
|
$
|
1,360,424
|
|
|
$
|
459,105
|
|
|
$
|
—
|
|
|
$
|
1,819,529
|
|
|
$
|
1,059,083
|
|
|
$
|
428,408
|
|
|
$
|
—
|
|
|
$
|
1,487,491
|
|
Gross profit
|
407,990
|
|
|
188,998
|
|
|
—
|
|
|
596,988
|
|
|
307,658
|
|
|
178,155
|
|
|
—
|
|
|
485,813
|
|
||||||||
Operating income
|
144,158
|
|
|
41,045
|
|
|
(41,332
|
)
|
|
143,871
|
|
|
105,149
|
|
|
45,140
|
|
|
(41,043
|
)
|
|
109,246
|
|
||||||||
Amortization
|
25,770
|
|
|
4,148
|
|
|
—
|
|
|
29,918
|
|
|
18,638
|
|
|
4,513
|
|
|
—
|
|
|
23,151
|
|
(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.
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||||||||||||||
|
September 30,
|
|
September 30,
|
||||||||||||||||||||||||
|
2016
|
|
%
|
|
2015
|
|
%
|
|
2016
|
|
%
|
|
2015
|
|
%
|
||||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Assignment
|
$
|
596,437
|
|
|
94.8
|
%
|
|
$
|
539,383
|
|
|
94.3
|
%
|
|
$
|
1,720,312
|
|
|
94.5
|
%
|
|
$
|
1,402,116
|
|
|
94.3
|
%
|
Permanent placement
|
32,964
|
|
|
5.2
|
%
|
|
32,740
|
|
|
5.7
|
%
|
|
99,217
|
|
|
5.5
|
%
|
|
85,375
|
|
|
5.7
|
%
|
||||
|
$
|
629,401
|
|
|
100.0
|
%
|
|
$
|
572,123
|
|
|
100.0
|
%
|
|
$
|
1,819,529
|
|
|
100.0
|
%
|
|
$
|
1,487,491
|
|
|
100.0
|
%
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||||||||||||||
|
September 30,
|
|
September 30,
|
||||||||||||||||||||||||
|
2016
|
|
%
|
|
2015
|
|
%
|
|
2016
|
|
%
|
|
2015
|
|
%
|
||||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Domestic
|
$
|
599,991
|
|
|
95.3
|
%
|
|
$
|
546,747
|
|
|
95.6
|
%
|
|
$
|
1,732,594
|
|
|
95.2
|
%
|
|
$
|
1,420,492
|
|
|
95.5
|
%
|
Foreign
|
29,410
|
|
|
4.7
|
%
|
|
25,376
|
|
|
4.4
|
%
|
|
86,935
|
|
|
4.8
|
%
|
|
66,999
|
|
|
4.5
|
%
|
||||
|
$
|
629,401
|
|
|
100.0
|
%
|
|
$
|
572,123
|
|
|
100.0
|
%
|
|
$
|
1,819,529
|
|
|
100.0
|
%
|
|
$
|
1,487,491
|
|
|
100.0
|
%
|
|
|
Three Months Ended
September 30,
|
|
|
|
|||||||
|
|
2016
|
|
2015
|
|
% Change
|
|
|||||
|
|
|
|
|
|
|
|
|||||
Revenues by segment:
|
|
|
|
|
|
|
|
|||||
Apex:
|
|
|
|
|
|
|
|
|||||
Assignment
|
|
$
|
462.0
|
|
|
$
|
411.8
|
|
|
12.2
|
%
|
|
Permanent placement
|
|
11.6
|
|
|
10.8
|
|
|
6.6
|
%
|
|
||
|
|
473.6
|
|
|
422.6
|
|
|
12.0
|
%
|
|
||
Oxford:
|
|
|
|
|
|
|
|
|||||
Assignment
|
|
134.4
|
|
|
127.5
|
|
|
5.4
|
%
|
|
||
Permanent placement
|
|
21.4
|
|
|
22.0
|
|
|
(2.2
|
)%
|
|
||
|
|
155.8
|
|
|
149.5
|
|
|
4.3
|
%
|
|
||
Consolidated:
|
|
|
|
|
|
|
|
|||||
Assignment
|
|
596.4
|
|
|
539.3
|
|
|
10.6
|
%
|
|
||
Permanent placement
|
|
33.0
|
|
|
32.8
|
|
|
0.7
|
%
|
|
||
|
|
$
|
629.4
|
|
|
$
|
572.1
|
|
|
10.0
|
%
|
|
Percentage of total revenues:
|
|
|
|
|
|
|
|
|||||
Apex
|
|
75.2
|
%
|
|
73.9
|
%
|
|
|
|
|||
Oxford
|
|
24.8
|
%
|
|
26.1
|
%
|
|
|
|
|||
|
|
100.0
|
%
|
|
100.0
|
%
|
|
|
|
|||
|
|
|
|
|
|
|
|
|||||
Assignment
|
|
94.8
|
%
|
|
94.3
|
%
|
|
|
|
|||
Permanent placement
|
|
5.2
|
%
|
|
5.7
|
%
|
|
|
|
|||
|
|
100.0
|
%
|
|
100.0
|
%
|
|
|
|
|||
|
|
|
|
|
|
|
|
|||||
Domestic
|
|
95.3
|
%
|
|
95.6
|
%
|
|
|
|
|||
Foreign
|
|
4.7
|
%
|
|
4.4
|
%
|
|
|
|
|||
|
|
100.0
|
%
|
|
100.0
|
%
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
|
|
|||||||
|
|
2016
|
|
2015
|
|
% Change
|
|
|||||
|
|
|
|
|
|
|
|
|||||
Gross profit:
|
|
|
|
|
|
|
|
|||||
Apex
|
|
$
|
143.7
|
|
|
$
|
129.3
|
|
|
11.2
|
%
|
|
Oxford
|
|
63.4
|
|
|
62.1
|
|
|
2.0
|
%
|
|
||
Consolidated
|
|
$
|
207.1
|
|
|
$
|
191.4
|
|
|
8.2
|
%
|
|
Gross margin:
|
|
|
|
|
|
|
|
|||||
Apex
|
|
30.3
|
%
|
|
30.6
|
%
|
|
(0.3
|
)%
|
|
||
Oxford
|
|
40.7
|
%
|
|
41.6
|
%
|
|
(0.9
|
)%
|
|
||
Consolidated
|
|
32.9
|
%
|
|
33.5
|
%
|
|
(0.6
|
)%
|
|
|
|
Nine Months Ended September 30,
|
|
|
|||||||||||||||||
|
|
2016
|
|
2015
|
|
% Change
|
|||||||||||||||
|
|
|
|
Reported
|
|
Pro Forma
(1)
|
|
Reported
|
|
Pro Forma
(1)
|
|||||||||||
Revenues by segment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Apex:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Assignment
|
|
$
|
1,325.5
|
|
|
$
|
1,037.4
|
|
|
$
|
1,139.4
|
|
|
27.8
|
%
|
|
|
|
16.3
|
%
|
|
Permanent placement
|
|
34.9
|
|
|
21.7
|
|
|
31.0
|
|
|
60.9
|
%
|
|
|
|
12.7
|
%
|
|
|||
|
|
1,360.4
|
|
|
1,059.1
|
|
|
1,170.4
|
|
|
28.5
|
%
|
|
|
|
16.2
|
%
|
|
|||
Oxford:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Assignment
|
|
394.8
|
|
|
364.7
|
|
|
367.3
|
|
|
8.2
|
%
|
|
|
|
7.5
|
%
|
|
|||
Permanent placement
|
|
64.3
|
|
|
63.7
|
|
|
63.7
|
|
|
1.0
|
%
|
|
|
|
0.9
|
%
|
|
|||
|
|
459.1
|
|
|
428.4
|
|
|
431.0
|
|
|
7.2
|
%
|
|
|
|
6.5
|
%
|
|
|||
Consolidated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Assignment
|
|
1,720.3
|
|
|
1,402.1
|
|
|
1,506.7
|
|
|
22.7
|
%
|
|
|
|
14.2
|
%
|
|
|||
Permanent placement
|
|
99.2
|
|
|
85.4
|
|
|
94.7
|
|
|
16.2
|
%
|
|
|
|
4.8
|
%
|
|
|||
|
|
$
|
1,819.5
|
|
|
$
|
1,487.5
|
|
|
$
|
1,601.4
|
|
|
22.3
|
%
|
|
|
|
13.6
|
%
|
|
Percentage of total revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Apex
|
|
74.8
|
%
|
|
71.2
|
%
|
|
73.1
|
%
|
|
|
|
|
|
|
|
|||||
Oxford
|
|
25.2
|
%
|
|
28.8
|
%
|
|
26.9
|
%
|
|
|
|
|
|
|
|
|||||
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Assignment
|
|
94.5
|
%
|
|
94.3
|
%
|
|
94.1
|
%
|
|
|
|
|
|
|
|
|||||
Permanent placement
|
|
5.5
|
%
|
|
5.7
|
%
|
|
5.9
|
%
|
|
|
|
|
|
|
|
|||||
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Domestic
|
|
95.2
|
%
|
|
95.5
|
%
|
|
95.6
|
%
|
|
|
|
|
|
|
|
|||||
Foreign
|
|
4.8
|
%
|
|
4.5
|
%
|
|
4.4
|
%
|
|
|
|
|
|
|
|
|||||
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30,
|
|
|
||||||||||||||||
|
|
2016
|
|
2015
|
|
% Change
|
||||||||||||||
|
|
|
|
Reported
|
|
Pro Forma
(1)
|
|
Reported
|
|
Pro Forma
(1)
|
||||||||||
Gross profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Apex
|
|
$
|
408.0
|
|
|
$
|
307.7
|
|
|
$
|
355.0
|
|
|
32.6
|
%
|
|
|
14.9
|
%
|
|
Oxford
|
|
189.0
|
|
|
178.1
|
|
|
179.1
|
|
|
6.1
|
%
|
|
|
5.5
|
%
|
|
|||
Consolidated
|
|
$
|
597.0
|
|
|
$
|
485.8
|
|
|
$
|
534.1
|
|
|
22.9
|
%
|
|
|
11.8
|
%
|
|
Gross margin:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Apex
|
|
30.0
|
%
|
|
29.0
|
%
|
|
30.3
|
%
|
|
1.0
|
%
|
|
|
(0.3
|
)%
|
|
|||
Oxford
|
|
41.2
|
%
|
|
41.6
|
%
|
|
41.6
|
%
|
|
(0.4
|
)%
|
|
|
(0.4
|
)%
|
|
|||
Consolidated
|
|
32.8
|
%
|
|
32.7
|
%
|
|
33.4
|
%
|
|
0.1
|
%
|
|
|
(0.6
|
)%
|
|
Period
|
Total Number of Shares Purchased
|
Average Price Paid per Share
|
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
|
Maximum Number of Shares (or Approximate Dollar Value) or Shares That May Yet be Purchased Under the Plans or Programs.
|
||||||
July
|
142,811
|
|
$
|
37.73
|
|
142,811
|
|
$
|
141,023,000
|
|
August
|
230,000
|
|
$
|
36.78
|
|
230,000
|
|
$
|
132,563,000
|
|
September
|
137,600
|
|
$
|
37.31
|
|
137,600
|
|
$
|
127,430,000
|
|
Total
|
510,411
|
|
$
|
37.19
|
|
510,411
|
|
$
|
127,430,000
|
|
|
ON ASSIGNMENT, INC.
|
|
|
|
|
Date: November 8, 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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