CINCINNATI, March 27, 2006 (PRIMEZONE) -- Resolve Staffing, Inc. (OTCBB:RSFF) is proud to announce the acquisition of Ready Nurses, a Fulton, Missouri-based medical staffing firm.
Ready Nurses, located in Fulton, Missouri, provides a variety of medical staffing services including travel nurses and other healthcare related professionals. With $1 million in annual sales, this acquisition is Resolve's fourth in the burgeoning medical staffing industry. Moreover, this acquisition brings Resolve's medical staffing division to approximately 15% of the company's annualized staffing sales, which are currently approaching over $75 million.
Ron Heineman, CEO of Resolve, stated, "Medical staffing continues to be the growth niche in the staffing industry. With double-digit industrywide growth, it is a market niche that we anticipate adding considerably to our revenues. In addition, the outcome of our continued penetration of this market is higher gross profit margins. We have obtained 'critical mass' in the staffing industry and we expect the coming years to be exciting for Resolve. Moreover, the pending merger with ELS will establish Resolve as a premier provider in the HRO marketplace. We will continue to strengthen our business and broadened our company through disciplined organic and acquisitive growth initiatives."
About Resolve Staffing, Inc.
Resolve Staffing is a national provider of outsourced human resource services. With 53 offices reaching from New York to California, the company provides a full range of supplemental staffing and outsourced solutions, including solutions for temporary, temporary-to-hire, or direct-ire 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.
This press release contains 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. These risks and uncertainties may cause the actual results of the company to be materially different from any future results expressed or implied. Factors that could affect future results include economic conditions in the company's service areas, the effect of changes in the company's mix of services on gross margin, the company's ability to successfully integrate acquired businesses with its existing operations, future workers' compensation claims experience, the effect of changes in the workers' compensation regulatory environment in one or more of our primary markets, and collectibility of accounts receivable among others. Other important factors that may affect the company's future prospects are described in the company's 2004 Annual Report on Form 10-K. Although forward-looking statements help to provide complete information about the company, readers should keep in mind that forward-looking statements may be less reliable than historical information. The company undertakes no obligation to update or revise forward-looking statements in this release to reflect events or changes in circumstances that occur after the date of this release.