ASGN Q4 Profit Down

(RTTNews) - ASGN Inc. (ASGN) reported that its fourth-quarter net income declined to $39.3 million or $0.74 per share from last year $45.9 million or $0.86 per share in the fourth quarter of 2018.

Adjusted net income was $68.3 million or $1.28 per share, compared to $60.8 million or $1.14 per share in the fourth quarter of 2018.

Revenues were $1.0 billion, up 10.3 percent year-over-year or up 10.4 percent on a same "Billable Days" and "Constant Currency" basis, reflecting high growth from the Apex and ECS segments, which both grew well above market rates for the quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.23 per share and revenues of $1 billion for the fourth-quarter. Analysts' estimates typically exclude special items.

For the first-quarter 2020, the company expects net income to be in the range of $42.3 million to $45.9 million or $0.79 to $0.86 per share; adjusted net income of $54.4 million to $58.1 million or $1.02 to $1.09 per share, and revenues of $990.0 million to $1.0 billion. Wall Street currently is looking for the first-quarter earnings of $1.03 per share on annual revenues of $998.61 million.