CORESTAFF, Inc. and Subsidiaries
Summary Consolidated Financial Data (Unaudited)
(In thousands, except per share amounts)
Historical
Three Months Ended Six Months Ended
June 30, June 30,
1997 1996 1997 1996
Statement of Operations Data:
Revenues from services:
IT Services $126,474 $56,204 $229,356 $96,607
Staffing Services 114,877 75,831 228,943 136,617
Other -- 2,124 -- 4,321
Total $241,351 $134,159 $458,299 $237,545
Gross profit:
IT Services $36,554 $15,840 $63,778 $27,682
Staffing Services 23,619 16,245 46,250 29,569
Other -- 533 -- 1,069
Total $60,173 32,618 $110,028 $58,320
Operating income $15,777 $8,360 $27,998 $14,186
Net income $7,407 $4,038 $13,162 $6,707
Earnings per share $0.23 $0.14 $0.41 $0.24
Number of shares used
to calculate earnings per share 32,455 29,177 32,450 28,212
Pro Forma (A)
Three Months Six Months
Ended Ended
June 30, June 30,
1997 1996 1997 1996
Statement of Operations Data:
Revenues from services:
IT Services $132,560 $95,437 $252,133 $182,640
Staffing Services 114,877 94,870 228,943 184,759
Other -- -- -- --
Total $247,437 $190,307 $481,076 $367,399
Gross profit:
IT Services 39,550 $28,293 $74,016 $53,318
Staffing Services 23,619 19,995 46,250 38,632
Other -- -- -- --
Total $63,169 $48,288 $120,266 $91,950
Operating income $17,202 $13,084 $32,313 $24,090
Net income $7,919 $4,589 $14,661 $7,876
Earnings per share $0.24 $0.16 $0.45 $0.28
Number of shares used
to calculate earnings
per share 32,455 29,177 32,450 28,212
Historical
June 30, December 31,
1997 1996
Balance Sheet Data:
Cash and cash equivalents $12,451 $6,521
Working capital 150,067 94,315
Long-term debt, net of
current maturities 216,787 107,839
Stockholders' equity 245,810 230,917
Total assets 530,418 396,397
(A) Pro forma data assume all acquisitions made through June 30, 1997 and
the sale of the physical therapy staffing business were consummated
as of the beginning of the periods presented.
SOURCE CORESTAFF, Inc.
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