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ASGN Incorporated (ASGN) is a leading provider of professional staffing and IT solutions, operating across technology, digital, creative, engineering, and life sciences fields. The company serves both commercial and government sectors within the United States and internationally, offering a wide range of services through its three main segments: Apex, Oxford, and ECS.
The Apex segment specializes in supplying technology, digital, creative, scientific, and engineering professionals for contract, contract-to-hire, and permanent placement roles. Apex primarily caters to Fortune 1000 clients and mid-market companies, providing them with critical talent to drive their business operations.
The Oxford segment focuses on delivering highly specialized technology, digital, engineering, and life sciences staffing and consulting services. Known for its expertise in finding hard-to-reach talent, Oxford operates in various skill and geographic markets, ensuring that clients receive top-notch consultancy and staffing solutions.
The ECS segment is dedicated to providing advanced IT solutions, including cloud services, cybersecurity, artificial intelligence, machine learning, application modernization, and science and engineering. ECS serves both commercial enterprises and government entities, including the Department of Defense, intelligence agencies, and civilian agencies, with a strong focus on mission-critical solutions.
Established in 1985 and originally known as On Assignment, Inc., the company rebranded to ASGN Incorporated in April 2018. Headquartered in the United States, ASGN has built a robust reputation for its comprehensive service offerings and ability to meet the evolving needs of its diverse client base.
Recent Achievements and Projects:
- Expansion of cloud services and cybersecurity solutions through the ECS segment, serving both commercial and government clients.
- Strategic partnerships with Fortune 1000 companies to strengthen their digital and technological capabilities.
- Recognition in the industry for providing innovative staffing solutions that address gaps in the technology and life sciences sectors.
With a strong financial foundation and a commitment to delivering high-quality services, ASGN Incorporated continues to position itself as a key player in the professional staffing and IT solutions industry, maintaining a focus on growth and innovation to meet the demands of an ever-changing market.
ASGN Incorporated (NYSE: ASGN) has announced a change in Chairmanship, with current Chairman Jeremy Jones retiring on June 18, 2021, after 26 years of service. Arshad Matin, an independent director since 2014, will succeed him. Under Jones, ASGN's market cap grew from $130 million to approximately $5 billion. The company has also appointed two new independent directors, Carol Lindstrom and Vice Admiral Joseph W. Dyer, enhancing its Board with diverse expertise. ASGN emphasizes the importance of robust corporate governance and aims to achieve gender equality on its Board by 2022.
Encantado Technical Solutions, a joint venture of Edgewater and ECS, has secured a prime award for the Sandia National Laboratories contract valued between $400 million and $700 million. This seven-year contract will provide comprehensive IT support to Sandia, enhancing services for approximately 14,000 users and 150,000 devices. The contract will employ Agile methodologies and improve mission computing capabilities, creating new jobs in Albuquerque and Livermore. Encantado's commitment to local communities includes launching a nonprofit to advance STEM initiatives.
ASGN reported Q4 2020 revenues of $1,011.4 million, a 1.3% decline year-over-year. Net income rose to $55.4 million ($1.04 per share), up 41% from the prior year. Adjusted net income was $70.1 million ($1.31 per share), reflecting a 2.6% annual increase. Free cash flow for the quarter reached $82.7 million. The company made four acquisitions without additional leverage, maintaining a strong balance sheet with $274.4 million in cash. For Q1 2021, ASGN anticipates revenues between $1,000.0 million and $1,020.0 million.
Oxford Global Resources has been awarded the Best in KLAS for Business Solution Implementation Services, marking the seventh consecutive year of recognition. The company ranks highly in four categories, including Outsourced Coding and HIT Staffing, demonstrating its commitment to enhancing patient care through effective solutions in healthcare. This award reflects direct feedback from healthcare professionals, confirming Oxford's excellence in service delivery and operational impact.
Oxford Global Resources has been awarded the Best in KLAS designation for Business Solution Implementation Services, marking its seventh consecutive year of recognition. The company is ranked across four categories, further solidifying its role in enhancing patient care through effective staffing and consulting services. The KLAS award is based on extensive feedback from healthcare professionals and signifies excellence in software and services in the healthcare industry. This year, Oxford leads in Outsourced Coding, HIT Implementation Leadership for small businesses, and HIT Staffing.
ASGN Incorporated (NYSE: ASGN) will release its fourth quarter and full year 2020 financial results on February 10, 2021, at approximately 4:15 p.m. EST, followed by a conference call at 4:30 p.m. EST hosted by CEO Ted Hanson. Prepared remarks will be available on their website prior to the call. For participation, the dial-in number is 877-407-0792 (international: +1-201-689-8263) with Conference ID 13714744. A replay will be available from 7:30 p.m. EST on February 10 until February 24, 2021.
ECS, a leader in technology and engineering solutions, has secured a five-year, $28.8 million contract with the United States Marine Corps (USMC) to provide information technology service and support. This contract enables M&RA to optimize human resources for active and reserve members. ECS will leverage its expertise in AWS GovCloud to enhance the Manpower Information Portal and support over 50 cloud applications. The company has over two decades of experience with USMC, having previously established cloud environments meeting stringent security requirements.
Apex Systems has partnered with University of Maryland Global Campus (UMGC) to enhance upskilling and reskilling initiatives, particularly for military veterans pursuing careers in cybersecurity. The collaboration offers tuition discounts for UMGC courses to Apex consultants completing Cyber Security Analyst Training. Apex employees can earn academic credits towards degrees after passing IT certification exams. This alliance aims to strengthen Apex's workforce development strategy and improve educational accessibility for veterans, accelerating their path to degree completion and career advancement.
ASGN Incorporated (NYSE: ASGN) announced its acquisition of Integrated Solutions Management, Inc. (ISM), which specializes in IoT technology and IT service management. Founded in 1991, ISM is recognized as an Elite ServiceNow partner, delivering significant deployments across sectors such as defense and healthcare. With approximately 75 skilled employees, ISM will enhance ASGN’s ECS segment, focusing on digital solutions for government and commercial clients. This acquisition aims to strengthen ASGN’s competitive edge in digital transformations.
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