Smart-Tek Predicts Gross Billings to Exceed $130 Million in Calendar 2010

NEWPORT BEACH, Calif., March 8  /PRNewswire/ -- Smart-Tek Automated Services, Inc., a wholly owned subsidiary of Smart-Tek Solutions, Inc. (OTC Bulletin Board : STTN), said today that it is poised to report projected gross billings of $130 million for calendar year 2010, with gross reportable revenue (in compliance with GAP) in excess of $18 million, subject to any adverse market changes.
Smart-Tek Automated Services, Inc. (Smart-Tek) recently entered the PEO industry, enabling its clients to cost effectively outsource the management of human resources, employee benefits, payroll and workers' compensation. Smart-Tek Automated Services, Inc. CEO Brian Bonar projects anticipated gross billings exceeding $130 million ($18 million reportable gross revenues). The projections, he said, are based on current signed contracts and anticipated growth expected in the marketplace.
While Smart-Tek Automated Services, Inc. only recently entered the PEO industry, it has recruited a management team with extensive experience in this area. The management team, lead by industry veteran Brian Bonar, is confidant that the billing and revenue targets are achievable, absent unforeseen market conditions beyond the company's control.
PEOs provide businesses with personnel management solutions, access to comprehensive benefits, and general relief from the burden of employment administration. More and more businesses are contracting with PEOs like Smart-Tek to assume the responsibilities of and provide expertise in human resources management. This allows the client to concentrate on the revenue-producing side of its operations. "Smart-Tek plans to increase its business by offering enhanced benefits to its client employee base," Bonar said. "We have immediate plans for such offerings as financial and health plans."
Bonar encouraged clients to visit the website http://www.smart-tekservices.com/ for further information.
About Smart-Tek Solutions, Inc.:
The parent, Smart-Tek Solutions, Inc., generates revenue from the installation of security systems in construction projects. Its board is currently in negotiations to sell its original business and focus entirely on the PEO business of its wholly owned subsidiary, in order to achieve the best value for its shareholders. The original business generated $3.3 and $3.8 Million of revenue in 2009 and 2008 respectively, and $0 and ($3.1) loss of earnings in 2009 and 2008 respectively.
About Smart-Tek Automated Services, Inc.:
Smart-Tek Automated Services, Inc. provides financial services to small and medium-size businesses, relieving our clients from many of the day-to-day tasks that negatively impact their core business operations such as payroll processing, human resources support, workers' compensation insurance, safety programs, employee benefits, and other administrative and aftermarket services predominantly related to staffing - staff leasing, temporary staffing and co-employment. It not only provides core services but a wide selection of employee and employer benefits and aftermarket products.
Safe Harbor:
Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones and marketing arrangements and plans. Estimated revenues from its Smart-Tek Solutions, Inc. subsidiary are somewhat subjective and based on information available to the Company at the time of the determination. Also, such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the continued growth of business as planned including the fruition of new agreements in hand, existing business staying intact, and our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and potential international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission, including its annual report on Form 10-K for the year ended , and its subsequent filings with the SEC. 
DATASOURCE: Smart-Tek Automated Services, Inc.
CONTACT:  Brian Bonar of Smart-Tek Automated Services, Inc.,[phone]
Web Site:  http://www.smart-tekservices.com/

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