Smart-Tek Solutions, Inc. Projects Recoup and Possible Loss Exceeded by 4th Quarter's End
NEWPORT BEACH, Calif., Dec. 9, 2011 /PRNewswire/ -- Smart-Tek Automated Services, Inc., subsidiary of Smart-Tek Solutions, Inc. (OTC Bulletin Board: STTN) is pleased to announce that the addition of new PEO clients and the acquisition of existing staffing clientele should recoup and exceed losses experienced in the third quarter.
CEO Brian Bonar said that new clients and the Solvis brand and client list should add more than $2.7 million of reportable revenue by the fourth quarter's end. "We are very pleased with the growth, both of organic sales and the growth of the staffing operation," Bonar said. "Of course, this will be subject to audit and any unforeseen issues by quarter's end."
Complete financial statements (unaudited) with notes thereto are provided with the Company's Form 10Q filed with the Securities and Exchange Commission.
About Smart-Tek Solutions, Inc:
Smart-Tek Solutions, Inc. has two subsidiaries. IT Smart-Tek Communications Inc. subsidiary generates revenue from the installation of security systems in construction projects.
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.
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.
SOURCE Smart-Tek Solutions, Inc.