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1901 Ulmerton Road, Suite 300 Clearwater, Florida 33762-2317 (727) 299-1200 www.ablest.com |
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FOR IMMEDIATE RELEASE
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SYMBOL: AIH | |
Thursday, March 2, 2006
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TRADED: AMEX |
| For the Thirteen Week | For the Fifty-two Week | |||||||||||||||
| Periods Ended | Periods Ended | |||||||||||||||
| December 25, 2005 | December 26, 2004 | December 25, 2005 | December 26, 2004 | |||||||||||||
Net service revenues |
$ | 38,998 | $ | 33,844 | $ | 137,457 | $ | 116,353 | ||||||||
Cost of services |
32,497 | 28,756 | 114,471 | 97,938 | ||||||||||||
Gross profit |
6,501 | 5,088 | 22,986 | 18,415 | ||||||||||||
Selling, general and
administrative expenses |
5,358 | 4,321 | 19,899 | 17,043 | ||||||||||||
Operating income |
1,143 | 767 | 3,087 | 1,372 | ||||||||||||
Other: |
||||||||||||||||
Interest income (expense), net |
(7 | ) | (1 | ) | (7 | ) | 1 | |||||||||
Miscellaneous income
(expense), net |
| 24 | (2 | ) | 25 | |||||||||||
Other income (expense) |
(7 | ) | 23 | (9 | ) | 26 | ||||||||||
Income from operations
before income taxes |
1,136 | 790 | 3,078 | 1,398 | ||||||||||||
Income tax expense |
1,805 | 284 | 2,542 | 515 | ||||||||||||
Net (loss) income |
$ | (669 | ) | $ | 506 | $ | 536 | $ | 883 | |||||||
Basic net
(loss) income per
common share |
$ | (0.23 | ) | $ | 0.18 | $ | 0.19 | $ | 0.31 | |||||||
Diluted net
(loss) income per
common share |
$ | (0.23 | ) | $ | 0.17 | $ | 0.18 | $ | 0.30 | |||||||
Weighted average number of common
shares in computing net income per
common share |
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Basic |
2,863,133 | 2,840,345 | 2,861,097 | 2,839,272 | ||||||||||||
Diluted |
2,929,657 | 2,933,898 | 2,922,981 | 2,921,853 | ||||||||||||
MORE...
| December 25, 2005 | December 26, 2004 | |||||||
ASSETS |
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CURRENT ASSETS |
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Cash |
$ | 1,931 | $ | 1,357 | ||||
Accounts receivable, net |
18,760 | 16,783 | ||||||
Prepaid expenses and other current assets |
469 | 160 | ||||||
Current deferred tax
asset |
1,246 | 1,369 | ||||||
Total current
assets |
22,406 | 19,669 | ||||||
Property, plant and
equipment, net |
1,732 | 543 | ||||||
Deferred tax asset |
863 | 3,208 | ||||||
Goodwill |
1,283 | 1,283 | ||||||
Other assets |
171 | 40 | ||||||
Total assets |
$ | 26,455 | $ | 24,743 | ||||
LIABILITIES AND STOCKHOLDERS EQUITY |
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CURRENT LIABILITIES |
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Accounts payable |
$ | 841 | $ | 378 | ||||
Accrued insurance |
2,536 | 3,069 | ||||||
Accrued wages |
2,738 | 1,989 | ||||||
Other current
liabilities |
514 | 425 | ||||||
Total current
liabilities |
6,629 | 5,861 | ||||||
Other liabilities |
432 | 117 | ||||||
Total liabilities |
7,061 | 5,978 | ||||||
COMMITMENTS AND CONTINGENCIES |
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STOCKHOLDERS EQUITY |
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Preferred stock of $.05 par value; 500,000 shares
authorized ,
none issued or outstanding at December 25, 2005 and
December 26, 2004 |
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Common stock of $.05 par value; 7,500,000 shares
authorized, 3,346,877 and
3,334,344 shares issued and outstanding including
shares held in
treasury at December 25, 2005 and December 26, 2004,
respectively |
167 | 167 | ||||||
Additional paid-in
capital |
5,265 | 5,172 | ||||||
Retained earnings |
16,072 | 15,536 | ||||||
Treasury stock at cost; 457,729 shares held at both
December 25, 2005 and December 26, 2004 |
(2,110 | ) | (2,110 | ) | ||||
Total stockholders equity |
19,394 | 18,765 | ||||||
Total liabilities and stockholders equity |
$ | 26,455 | $ | 24,743 | ||||
SOURCE:
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Ablest Inc. | |
CONTACT:
|
Charles H. Heist, Chairman and Chief Financial Officer | |
| 727-299-1200 or theist@ablest.com/ |