You were certainly right about the lack of investment interest. Anyways, based on the latest press (see below), it looks like the main path for growth in the immediate future will be facilities management - not as exciting but growth that should have a predictable future sales and earnings.
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On-Site Sourcing Announces Two New Contracts, Increasing Facilities Management Revenues By 25%
PR Newswire, Tuesday, April 07, 1998 at 10:07
ARLINGTON, Va., April 7 /PRNewswire/ -- On-Site Sourcing, Inc.
(NASDAQ:ONSS) today announced it has entered into two major contracts for
facilities management, document management and related activities which will
represent an increase in facilities management revenues of approximately 25%
annualized.
Christopher J. Weiler, President, said the contracts were received from a
major international accounting firm and a major Southeastern law firm. "The
Company's base of recurring revenues has been increased substantially by these
contracts and others received in recent months," Weiler said. Work on the
accounting firm s contract will be performed primarily by personnel in the
Washington, D.C. office, while the law firm s contract will be fulfilled
primarily from the Atlanta office. Weiler said the Company is in various
stages of negotiating several other large-scale facilities management
contracts.
The Company recently reported 1997 revenues of $21.1 million, up from
$9.5 million in 1996. Net earnings increased to $723,000, or 15 cents per
share, from $245,000, or 7 cents per share in 1976 when 24% fewer shares were
outstanding. Facilities management income comprised approximately 12% of
total revenues in 1997.
On-Site Sourcing provides facilities management, digital imaging, document
management, litigation support and reprographic services throughout the East
Coast. On-Site's clients include law firms, corporations, non-profit
organizations, accounting and consulting firms, financial institutions and
other organizations. On-Site currently operates in the Philadelphia,
Washington, D.C., Atlanta, New York City and Baltimore markets. |
