Business Editors
PHILADELPHIA--(BUSINESS WIRE)--June 19, 2001
Right Management Consultants, Inc. (Nasdaq:RMCI), a global consulting firm specializing in career transition and organizational consulting services, today announced that its preliminary results for the second quarter, ending June 30, 2001, are expected to substantially exceed market expectations.
The company said its revenues for the quarter will be in excess of $70 million and that earnings per share will be in excess of $0.50, based on results to date.
These results reflect economic conditions experienced in its career transition business year to date, the company added. By comparison, in the second quarter of 2000 (restated for the impact of the Securities and Exchange Commission Staff Accounting Bulletin No. 101) revenues were $45 million and earnings per share, adjusted for the company's subsequent 3-for-2 stock split, were $0.24.
Further guidance on revenues and earnings for the remainder of 2001 will be in the news release announcing the company's second-quarter results which is scheduled for the morning of Monday, July 23, 2001, to be accompanied by a conference call.
The updated outlook for the second quarter will be discussed in a conference call the morning of Friday, June 22, 2001, at 9:00 a.m. EDT. You may participate by calling 612-332-0932 at about 8:45 a.m. EDT. This will also be available on the Internet at www.streetevents.com and at the company's own Web site, www.right.com.
You can hear a recording of the conference call starting on Friday, June 22, 2001 at 2:00 p.m. EDT through Friday, July 6, 2001 until 11:59 p.m. EDT by calling (320) 365-3844 and giving access code 592264.
Right offers services to corporations of all sizes through a global network of more than 200 service locations and the Internet. The company is a worldwide leader in customized career transition solutions and also offers a wide range of organizational consulting services, including talent management, leadership development and organizational performance services.
In combination, the two lines of business enable Right to help businesses manage the entire life cycle of their employees.
Certain statements contained in this press release are or may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including discussion and analysis, results of operation, and business plans or strategies that are not statements of historical fact. Such Forward-Looking Statements involve known and unknown risks, uncertainties and other important factors regarding the Company's business, operations and competitive environment that may cause the actual results of the Company to be materially different from historical results or from any future results expressed or implied by such Forward-Looking Statements. Forward-Looking Statements also include projections of financial performance, statements regarding management's plans and objectives and statements concerning any assumptions relating to the foregoing, or statements regarding potential benefits related to use of the Company's services. These forward-looking statements reflect management's opinions only as of the date hereof and the Company assumes no obligation to update.
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