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Last $37.51 USD
Change Today +0.29 / 0.78%
Volume 111.6K
ASGN On Other Exchanges
Symbol
Exchange
Frankfurt
As of 11:37 AM 07/28/15 All times are local (Market data is delayed by at least 15 minutes).

on assignment inc (ASGN) Snapshot

Open
$37.49
Previous Close
$37.22
Day High
$37.58
Day Low
$36.98
52 Week High
07/16/15 - $41.49
52 Week Low
10/30/14 - $25.98
Market Cap
1.9B
Average Volume 10 Days
368.6K
EPS TTM
$1.52
Shares Outstanding
51.7M
EX-Date
--
P/E TM
24.7x
Dividend
--
Dividend Yield
--
Current Stock Chart for ON ASSIGNMENT INC (ASGN)

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on assignment inc (ASGN) Details

On Assignment, Inc. provides short- and long-term placement of contract, contract-to-hire, and direct hire professionals in the United States, Europe, Canada, Australia, and New Zealand. The company operates in four segments: Apex, Oxford, Physician, and Life Sciences Europe. The Apex segment offers mission-critical information technology (IT) and scientific staffing professionals for contract, contract-to-hire, and permanent placement positions to Fortune 1000 and mid-market clients, as well as provides consulting services for other select project-based needs. This segment offers staffing and services support for companies from various industries, including financial services, business services, consumer and industrials, technology, healthcare, government services, and communications. The Oxford segment provides high-end contract and direct placement services of IT and engineering professionals with expertise in specialized IT; software and hardware engineering; and mechanical, electrical, validation, and telecommunications engineering fields. The Physician Segment offers short- and long-term physician staffing; and permanent physician search services and temporary staffing for nurse practitioners, nurse anesthetists, and physicians assistants, as well as offers consulting services. The Life Sciences Europe segment provides contract life science professionals to clients in the biotechnology, pharmaceutical, food and beverage, medical device, personal care, chemical, automotive, educational, and environmental industries. Its contract staffing specialties include chemists, clinical research associates, clinical lab assistants, engineers, biologists, biochemists, microbiologists, molecular biologists, food scientists, regulatory affairs specialists, lab assistants, biostatisticians, drug safety specialists, SAS programmers, medical writers, and other scientific professionals. The company was founded in 1985 and is headquartered in Calabasas, California.

2,800 Employees
Last Reported Date: 03/2/15
Founded in 1985

on assignment inc (ASGN) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $839.7K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $497.1K
Chief Operating Officer and President of Oxfo...
Total Annual Compensation: $600.1K
President of Apex Systems Inc
Total Annual Compensation: $681.9K
President of Lab Support and Chief Financial ...
Total Annual Compensation: $439.2K
Compensation as of Fiscal Year 2014.

on assignment inc (ASGN) Key Developments

On Assignment Inc. Presents at William Blair’s 35th Annual Growth Stock Conference, Jun-09-2015 07:30 AM

On Assignment Inc. Presents at William Blair’s 35th Annual Growth Stock Conference, Jun-09-2015 07:30 AM. Venue: Four Seasons Hotel, Chicago, Illinois, United States. Speakers: Edward L. Pierce, Chief Financial Officer and Executive Vice President, Peter T. Dameris, Chief Executive Officer, President, Director and Chairman of Stock Option Committee, Theodore S. Hanson, President of Lab Support and Chief Financial Officer of Apex Systems, Inc.

On Assignment Inc. Enters Second Amended and Restated Credit Agreement

On June 5, 2015, On Assignment Inc. entered into a second amended and restated credit agreement with Wells Fargo, as administrative agent, and the lenders party thereto. The new credit agreement consists of: an $825.0 million seven-year term B loan facility; and a $150.0 million, five-year revolving loan facility, including a $20.0 million swingline subfacility and a $20.0 million sublimit for letters of credit. The new credit agreement also provides the ability to increase the loan facilities in a principal amount that is the greater of: $200.0 million; and the amount that is equal to the amount of additional debt that would not cause the pro forma leverage ratio to exceed 325:1.00, subject to receipt of lender commitments and satisfaction of specified conditions. Borrowings under the new credit agreement bear interest through maturity at a variable rate based upon, at the Company's option, either the Eurodollar rate or the base rate (which is the of the administrative agent's prime rate, one-half of 1.00% in excess of the overnight federal funds rate, and 1.00% in excess of the one-month Eurodollar rate), plus in each case, an applicable margin with a floor of 0.75% on the Eurodollar rate for the term B loan facility. The applicable margin for Eurodollar rate loans for the revolving loans ranges, based on the applicable leverage ratio, from 1.75% to 2.50% per annum and the applicable margin for base rate loans ranges, based on the applicable leverage ratio, from 0.75% to 1.50% per annum. The applicable margin for Eurodollar rate loans for the term B loans is 3.00% per annum and the applicable margin for base rate loans is 2.00% per annum. The Company is required to pay a commitment fee equal to 0.40% per annum on the undrawn portion available under the revolving loan facility if its leverage ratio is greater than or equal to 3.00:1.00, a commitment fee equal to 0.35% per annum if its leverage ratio is less than 3.00:1.00 but greater than or equal to 2.50:1.00, a commitment fee equal to 0.30% per annum if its leverage ratio is less than 2.50:1.00 but greater than or equal to 2.00:1.00 and a commitment fee equal to 0.25% per annum if its leverage ratio is less than 2.00:1.00. Additionally, the Company is required to pay variable per annum fees equal to the applicable margin for Eurodollar rate loans in respect of outstanding letters of credit. During the seven years after the closing date, the Company will be required to make quarterly amortization payments on the term B loan facility in the amount of $2,062,500. The Company is also required to make mandatory prepayments of loans under the new credit agreement, subject to specified exceptions, from excess cash flow and with the proceeds of asset sales, debt issuances and specified other events. The Company's obligations under the new credit agreement are guaranteed by substantially all of its direct and indirect domestic subsidiaries. The obligations under the new credit agreement and the guarantees are secured by a lien on substantially all of the Company's tangible and intangible property and by a pledge of all of the equity interests in its direct and indirect domestic subsidiaries.

On Assignment Inc. Provides Earnings Guidance for the Second Half of 2015

On Assignment Inc. provided earnings guidance for the second half of 2015. For the period, the company expects revenues of $1.087 billion to $1.103 billion. Gross margin of 33.6% to 34.0%. Adjusted EBITDA is expected to be between $138.0 million to $142.1 million. The company expects effective tax rate of 40.0%. The company expects interest expense of $20.6 million (includes $1.6 million of non-cash amortization of deferred loan costs). The company expects adjusted income from continuing operations of $80.7 million to $83.2 million. The company expects adjusted income from continuing operations per diluted share of $1.53 to $1.57. It expects income from continuing operations of $45.9 million to $48.4 million. The company expects income from continuing operations per diluted share of $0.87 to $0.92.

 

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Industry Analysis

ASGN

Industry Average

Valuation ASGN Industry Range
Price/Earnings 25.8x
Price/Sales 1.0x
Price/Book 2.9x
Price/Cash Flow 15.5x
TEV/Sales 0.8x
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