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TeamStaff Reports First Quarter Net Income and $0.7 Million Income Improvement From Continuing Operations Over Prior Year
Date:2/14/2008

19,439 19,254

WEIGHTED AVERAGE DILUTED SHARES

OUTSTANDING 19,525 19,254

TEAMSTAFF, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(AMOUNTS IN THOUSANDS)

December 31, September 30,

ASSETS 2007 2007

Unaudited

CURRENT ASSETS:

Cash and cash equivalents $ 535 $ 592

Accounts receivable, net of

allowance for doubtful accounts of

$24 and $17 as of December 31, 2007

and September 30, 2007,

respectively 7,064 8,279

Prepaid workers' compensation 479 468

Assets held for sale 470 490

Other current assets 607 642

Total current assets 9,155 10,471

EQUIPMENT AND IMPROVEMENTS:

Furniture and equipment 3,276 3,276

Computer equipment 564 561

Computer software 1,070 995

Leasehold improvements 41 41

4,951 4,873

Less accumulated depreciation and

amortization (4,208) (4,132)

Equipment and improvements, net 743 741

TRADENAME 4,569 4,569

GOODWILL 10,305 10,305

OTHER ASSETS 74 82

TOTAL ASSETS
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SOURCE TeamStaff, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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