CINCINNATI, Aug. 15, 2005 (PRIMEZONE) -- Resolve Staffing, Inc. (OTCBB:RSFF) reported today revenues of $5.4 million for the second quarter ended June 30, 2005, an improvement of $5 million or 1,220% over revenues of $410,000 for the second quarter of 2004 and a 217% increase over revenues of $1.7 million for the first quarter of 2005.
Management has set a course for success since developing a strategic relationship with ELS Human Resources (www.elshr.com) earlier this year. Resolve has acquired multiple companies, opened new locations and continues to seek numerous other opportunities. In the first half of 2005, Resolve integrated the new locations and focused on revenue and cash generation as a major initiative. Resolve's strategic relationship with ELS has not only strengthened the Company financially, it has helped the Company to diversify its service offerings. Resolve's current run rate puts the Company on track for over $20 million in annual sales and profitability for the second half of 2005.
Ron Heineman, President and Chief Executive Officer, commented: "We had a great quarter and our business continues to grow. From increasing revenue generation to the closing of a number of acquisitions, Resolve Staffing is laying the groundwork for a tremendous year of success. Resolve has grown from a single location in Florida to a national firm with 22 offices from coast-to-coast in less than six months. This has required expense and integration in the first six months. With these acquisitions being closed and integrated, the Company expects to see the benefits of this strategy in the second half of the year. Our outlook for 2005 is a positive one. We expect revenues and profits to be stronger in the second half of 2005. Resolve has made numerous strides to progress the Company in a positive direction that management believes will build a foundation for the shareholders to see the benefits of our strategic plans. The Company thanks its shareholders, both new and old, for their commitment and we look forward to the years ahead."
Resolve Staffing will be a featured presenter at the Cinapsys Microcap Investor Conference on August 24th in Dallas, Texas. For additional information visit www.microcapconference.org. Ron Heineman stated, "Now that we are starting to see the benefits of our strategic growth plans, we look forward to presenting our vision at the conference."
About Resolve Staffing, Inc.
Resolve Staffing is a national provider of outsourced human resource services with 22 offices reaching from California to New York. 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 http://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.