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Everforth, Inc. (formerly ASGN Incorporated) reports developments tied to its technology and digital engineering business for commercial enterprises and U.S. government customers. Company updates commonly cover operating results, segment demand, contract activity, share repurchases, acquisitions, and the completed corporate name and NYSE ticker transition from ASGN to EFOR.
The company’s recurring news themes include AI and data, cloud and infrastructure, digital engineering, customer experience, cybersecurity, enterprise platforms, offshore delivery, and brand integration across its operating businesses. Federal updates include Everforth ECS, an IT systems integrator serving defense, intelligence, and federal civilian agencies, while commercial updates include Apex Systems partnerships and services for data, cloud, and FinOps programs.
ASGN Incorporated (NYSE: ASGN) reported strong Q3 2021 results, with revenues of $1.1 billion, an increase of 18.7% year-over-year. Income from continuing operations reached $66.3 million (+42.0%). Adjusted EBITDA rose to $136.6 million (12.7% of revenues). The company closed the sale of its Oxford business for $525 million, yielding a net gain of $145.7 million. ASGN's cash and equivalents stood at $679.4 million. The company updated its Q4 guidance, raising revenue estimates by $20 million and Adjusted EBITDA estimates by $5 million.
Infor and Apex Systems have partnered to implement an ERP platform at Amsterdam UMC, enhancing operational processes for one of Europe’s largest hospitals. This deployment will utilize Infor CloudSuite Healthcare, focusing on financial administration, procurement, and logistics. The two-year project aims to strengthen existing healthcare interoperability, as Amsterdam UMC is already a client of Infor. Infor’s solution is designed to optimize workflows and support innovation in healthcare delivery, with a strong emphasis on improving efficiency in medical centers.
ECS has been recognized for the second consecutive year as a top provider in the Top 250 Managed Security Service Providers (MSSPs) list, ranking ninth in 2021, up from fourteenth in 2020. The company specializes in managed security services, including managed detection and response (MDR) and security operations center-as-a-service (SOCaaS). ECS aims to reduce cybersecurity costs and complexity for organizations across various sectors. With over 3,500 employees, ECS continues to solve complex challenges in cybersecurity and IT modernization for both government and commercial clients.
ASGN Incorporated (NYSE: ASGN) will release its Q3 2021 financial results on October 27, 2021 at 4:15 p.m. ET. This will be followed by a conference call at 4:30 p.m. ET, hosted by CEO Ted Hanson. Investors can access the call by calling 877-407-0792 or +1-201-689-8263 for international participants, using Conference ID 13723652. A replay will be available from 7:30 p.m. ET on the same day until November 10, 2021. For more information, visit www.asgn.com.
ECS has secured an Other Transaction Agreement (OTA) from the Naval Information Warfare Center (NIWC) to implement the Legacy Data Consolidation Solution (LDCS). This agreement aims to enhance patient care and reduce costs for the Defense Health Agency (DHA) by migrating data from outdated electronic healthcare record systems. The consolidation will facilitate a unified patient record system, allowing for the decommissioning of legacy systems and achieving significant annual savings.
ECS, a leader in technology solutions, has secured three task orders from NOAA Fisheries. These orders will support program management, economic research, and media communication. ECS plans to develop decision support tools, including bio-economic models, and enhance communications through multimedia content. The company has over 20 years of partnership with NOAA Fisheries, focusing on improving data collection and analysis for recreational fisheries. This collaboration aims to bolster NOAA's mission to protect national fisheries, a critical resource for food and jobs in the U.S.
ECS has secured a five-year, $36.7 million contract from the United States Central Command (CENTCOM) to support military operations crucial to regional security. The contract involves providing personnel and services in areas including command and control, information sharing, and missile defense. ECS aims to strengthen CENTCOM's security posture and that of coalition partners. This award continues ECS's longstanding partnership with the Department of Defense, highlighting the company’s capabilities in advanced technology and engineering solutions.
ECS has been awarded a prime position on the GSA's ASTRO contract, focusing on the development and support of unmanned and manned systems for the Department of Defense. The contract, spanning five years with options for five more, holds significant multi-billion dollar potential without a defined ceiling. ECS's expertise in autonomous aviation, AI, and machine learning will be leveraged to enhance mission capabilities across various domains. The company aims to deliver innovative technologies to improve the effectiveness of U.S. warfighters.
ASGN Incorporated (NYSE: ASGN) will host a virtual Investor & Analyst Day on September 14, 2021, from 9:00 a.m. ET to noon. The event will feature CEO Ted Hanson and senior management discussing the company's strategic vision, market opportunities, and long-term outlook. A live webcast will be available for attendees, with links and supporting materials accessible on the company's investor relations website. Following the event, a replay of the webcast will also be available.
ASGN Incorporated (NYSE: ASGN) has finalized the sale of its Oxford Global Resources unit to H.I.G. Capital for $525 million, yielding net proceeds of approximately $415 million after taxes. This strategic divestment aims to enhance ASGN's focus on its core IT and professional services in commercial and government sectors. The transaction involved legal and financial advisory from Sullivan & Cromwell LLP, William Blair, and Truist Securities for ASGN, with Ropes & Gray LLP and Wells Fargo Securities advising H.I.G. Capital.