NEWPORT BEACH, Calif., July 13 /PRNewswire-FirstCall/ -- July marks the one-year anniversary of Smart-Tek Automated Services, Inc., (OTC Bulletin Board: STTN) in the staffing and PEO market – a year that company executives say has been one of great successes.
Kelly Mowrey, COO of Smart-Tek Automated Services, Inc., said, "We have been so pleased with Smart-Tek's performance in the past year. We feel that our team has been faced with many exciting challenges and has met each one admirably. Since entering the PEO marketplace in 2009, we have signed many client agreements that have resulted in significant revenue growth for Smart-Tek. We have also decided to make a concerted effort to partner with technology based companies that provide a high-tech, user friendly platform to allow Smart-Tek and its client's greater control and management of regularly used forms and data. For example, we signed an agreement with a leader in electronic signature, eSign and digital e-signature services that securely enables businesses to electronically send, sign, and manage documents."
In other news this past year, Smart-Tek expanded its market to two-thirds of the U.S. by completing licensing and registration requirements in 32 new states, signed an agreement to provide PEO services to a national staffing firm, and entered the booming China market with dedicated operations located in Hong Kong.
Mowrey said that Smart-Tek's plan of offering a wide range of employer plans, such as a 401(k) has been highly successful.
"During our first year we were able to meet demand by expanding our presence in the US, as we saw when we opened offices in Missouri and Colorado," she said.
Please visit www.smart-tekservices.com for further information.
About Smart-Tek Solutions, Inc.:
The parent, Smart-Tek Solutions, Inc., generates revenue from the installation of security systems in construction projects. Its board is currently in negotiations to sell its original business and focus entirely on the PEO business of its wholly owned subsidiary, in order to achieve the best value for its shareholders. The original business generated $3.3 million and $3.8 million of revenue in 2009 and 2008 respectively, and $0 and ($3.1) loss of earnings in 2009 and 2008 respectively.
About Smart-Tek Automated Services, Inc.:
Smart-Tek Automated Services, Inc. provides financial services to small and medium-size businesses, relieving its clients from many of the day-to-day tasks that negatively impact their core business operations such as payroll processing, human resources support, workers' compensation insurance, safety programs, employee benefits, and other administrative and aftermarket services predominantly related to staffing: staff leasing, temporary staffing and co-employment. It not only provides core services but a wide selection of employee and employer benefits and aftermarket products.
Safe Harbor:
Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones and marketing arrangements and plans. Estimated revenues from its Smart-Tek Solutions, Inc., subsidiary are somewhat subjective and based on information available to the Company at the time of the determination. Also, such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the continued growth of business as planned including the fruition of new agreements in hand, existing business staying intact, and our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and potential international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission, including its annual report on Form 10-K for the year ended , and its subsequent filings with the SEC.
SOURCE Smart-Tek Automated Services, Inc.
