CINCINNATI -- Resolve Staffing, Inc. (OTCBB:RSFF) today issued its initial forecast for third quarter sales. Net Sales for the quarter ended September 30, 2007 are anticipated at approximately $64 million (GAAP). Sales for the nine months ended September 30, 2007 are projected at approximately
As previously announced, Resolve Staffing had a favorable renewal of it workers' compensation program for another year within its PEO division, allowing Resolve's continued expansion, and has entered into a first dollar, fully indemnified national health care plan with Humana to substantially reduce claims risk and any negative impact on earnings.
Given the aforementioned and our continued focus on sales and profitability, Resolve expects to see continuing improvement in operating results as both existing acquisitions and organic growth are integrated over the remainder of the year. We expect to have a competitive advantage by offering a turnkey Human Resource Outsourcing (HRO) product line. This competitive advantage should enable Resolve to increase its business opportunities with both existing customers and in new markets. Resolve expects this favorable trend to be realized as the acquisitions are consolidated and synergies are realized.
Ron Heineman, CEO, stated: "Resolve Staffing has quickly become a national Human Resource Outsourcing (HRO) company. There has been a great deal of time and expense integrating this rapid growth. We have developed the corporate infrastructure to handle continued growth. Consistent revenue growth reflects our strengthening position as a premier human resource company. Our outlook continues to remain positive and we remain confident about the market opportunity ahead of us."
About Resolve HR
Resolve HR (Resolve Staffing, Inc.) is a national provider of Human Resource Outsourcing (HRO) Services with offices reaching from New York to California. The Company employs over 6,000 temporary employees per week and, with the merger with ELS (www.elshr.com), Resolve now manages a PEO payroll of over 12,000 worksite employees in over 40 states with operations and service centers throughout the country. Resolve Staffing now provides turn key human resource management services to help its small-business clients tackle increased complexities associated with the employment aspect of their businesses. These services include payroll processing, employee benefits and administration, workers' compensation coverage, effective risk management and workplace safety programs. Resolve also provides a full range of supplemental staffing and outsourced solutions, including solutions for temporary, temporary-to-hire, or direct hire staffing in the medical, trucking, garment, clerical, office administration, customer service, professional and light industrial categories. For additional information on Resolve Staffing visit our website www.resolvestaffing.com.
Statements contained in this news release, other than those identifying historical facts, constitute 'forward-looking statements' within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.