CINCINNATI, June 20, 2005 (PRIMEZONE) -- Resolve Staffing, Inc. (OTCBB:RSFF) is proud to announce the acquisition of Taylor Personnel Services, a Buffalo, New York staffing firm. Taylor Personnel Services has been servicing the staffing industry in the New York area for over 35 years. The Company offers temporary staffing, permanent placement and payroll management services. The acquisition gives Resolve a total of 10 locations in the New York market and 22 locations nationwide.
Ron Heineman, CEO, commented, "We are beginning to see the benefits of the investments we have made in our business during the past year. The acquisitions we have completed and the new locations we have opened are driving sales growth across our broadened portfolio and we anticipate annualized sales to reach the $20 to $25 million range over the next twelve months, based on our current locations and without additional acquisitions. Additionally, our utilization of a shared infrastructure and disciplined approach to cost controls should allow us to convert this revenue gain into profits. As a result, both our revenues and net income should see significant increases in the coming quarters, demonstrating the effectiveness of our model."
Don Quarterman, Director, stated, "We anticipate that the acquisition will be accretive to earnings and has the potential for significant additional sales and earnings in the future. We are pleased with our progress in the first half of the year and remain confident in our financial performance expectations for the full 2005 year. Our management team's sales and marketing expertise, successful acquisition strategy and entrepreneurial spirit will be a strength as we continue to seek opportunities to create shareholder value."
About Resolve Staffing, Inc.
Resolve Staffing is a national provider of outsourced human resource services. The Company provides a full range of supplemental staffing and outsourced solutions, including solutions for temporary, temporary-to-hire, or direct hire staffing in the clerical, office administration, customer service, professional and light industrial categories. For additional information on Resolve Staffing visit our website, www.resolvestaffing.com.
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.