ASGN Incorporated - ASGN STOCK NEWS

ASGN reported substantial growth in Q2 2021, with revenues reaching $974.9 million, a 17.2% increase from Q2 2020. Income from continuing operations surged 31.7% to $57.3 million. The net income stood at $64.2 million, including $6.9 million from discontinued operations. Adjusted EBITDA rose to $119.3 million, representing 12.2% of revenues. ASGN agreed to sell its Oxford business for $525 million, expected to close in Q3 2021. Additionally, the company has made two acquisitions to enhance its service capabilities and repurchased $35 million worth of stock.

ASGN Incorporated (NYSE: ASGN) has announced the acquisition of IndraSoft Inc., a key provider of cybersecurity and digital transformation services for federal agencies. With a workforce of over 220 consultants, IndraSoft will enhance ASGN's ECS Missions Solutions division. This acquisition strengthens ASGN's footprint with major clients, including the U.S. Air Force and Army Intelligence. ASGN aims to accelerate growth in IT services and solutions, aligning with its strategy to target high-growth consulting businesses. Additionally, 16 IndraSoft employees will receive grants for approximately 52,000 shares of restricted stock.

ASGN Incorporated (NYSE: ASGN) will release its second quarter 2021 financial results on July 28, 2021, at 4:15 p.m. EDT, followed by a conference call at 4:30 p.m. EDT led by CEO Ted Hanson. The company's remarks will be available on its website beforehand. Investors can participate via phone, with a replay option available until August 11, 2021. ASGN provides IT and professional services across various sectors, striving to be a trusted partner for organizations needing skilled human capital and integrated solutions.

ASGN, a leading provider of IT and professional services, announced two major transactions: the sale of its Oxford Global Resources unit to H.I.G. Capital for $525 million and the acquisition of Avaap's Infor Business Unit for $86 million. The Oxford sale, which accounted for 11.6% of ASGN's revenues, will be reported as Discontinued Operations, and the net proceeds are expected to be approximately $400 million post-tax. Concurrently, ASGN revised its Q2 2021 guidance, projecting revenue growth of 15.4% to 16.6% and increased income estimates, reflecting improved operating performance.

ECS, part of ASGN, has been recognized as an AWS Managed Service Provider (MSP) Partner for the seventh consecutive year, showcasing its expertise in delivering cloud solutions using AWS technology. This designation follows a thorough third-party audit confirming ECS's operational excellence and commitment to supporting enterprises through the entire cloud adoption lifecycle. Additionally, ECS has retained its AWS Premier Consulting Partner status for six years. The company caters to diverse clients, including government agencies and Fortune 1000 firms, emphasizing reliable and secure cloud services.

ASGN Incorporated (NYSE: ASGN) announced the appointment of Maria R. Hawthorne to its Board of Directors, effective June 17, 2021. With over 35 years of expertise in financial strategies and operational leadership, Ms. Hawthorne previously served as President and CEO of PS Business Parks, Inc., where she achieved double-digit shareholder returns. Her experience includes enhancing corporate governance and digital transformation initiatives. ASGN also meets its goal of having at least three female directors by 2022 ahead of schedule with this appointment, strengthening its leadership team.

Oxford Global Resources has enhanced its SAP partnership by delivering a partner managed cloud for SAP Enable Now, focusing on comprehensive training solutions. This expansion is aimed at increasing productivity, reducing costs, and improving client training experiences. The company has been part of the SAP PartnerEdge program since 2017, providing senior-level consultants. With over 20 years of experience, Oxford aims to support companies in achieving their growth and business objectives effectively.

ASGN reported strong Q1 2021 financial results, with revenues of $1,025.7 million, up 3.6% year-over-year. Net income rose to $48.7 million ($0.91 per share), an increase of 11.1% compared to Q1 2020. Adjusted EBITDA also improved to $108.6 million, or 10.6% of revenues. The Federal Government segment saw a significant revenue increase of 21.2% year-over-year. The company announced a new $250 million stock repurchase program, enhancing shareholder value. Cash and equivalents stood at $386.5 million.