Source2

Company Update: 4th Qtr, 2012

Source2 — Fri, 15 Feb 2013 13:53:03 +0000

We are pleased to report results for the fourth quarter and the year ending December 31, 2012. Source2 had a very solid year in what remains a choppy economic environment. Full year 2012 sales increased 13% (over $18 million – highest sales in the Company history) and both EBITDA and profits were up substantially compared to the prior year. For the fourth quarter, the Company recorded gross revenue of $4,483,055 an 11% decrease from the same period in 2011. This decrease was the result of a large project from a healthcare client during the fourth quarter of 2011 which did not repeat in 2012, and Source2 reporting a 14 week quarter in 2011 vs. the normal 13 weeks for 2012. These two one-time events also had an impact on gross profit which declined by 17% for Q-4 2012 compared with 2011. Despite the lower income and gross profit our EBITDA, net income and income per share all showed significant improvements over 2011 for both the fourth quarter and year ended December 31, 2012 due to expense control maintained throughout the year.

Company Update: 3rd Qtr 2012

Source2 — Tue, 06 Nov 2012 14:36:28 +0000

We pleased to report results for its third quarter and for the nine months ended September 30, 2012. For the third quarter, the company recorded gross revenue of $4,188,359 an 11% increase over the same quarter in 2011. Net income was $94,860 up 189% compared to $32,801 in the year ago quarter. Source2 had an excellent third quarter with triple digit percentage increases in EBITDA, net income and income per share. Gross Profit, however, was unchanged from last year due to factors such as mix of services (RPO vs. SSO) sold and increase sales in lower margin SSO Government business. Aggressive expense control was the key in increasing net profits with flat Gross Profit compared with third quarter 2011. Nine month 2012 results were even more impressive with net income of $286,400 an 889% gain over the prior year period and income per share was up 1,100% over nine months ending September 2011.

Company Update: 2nd Qtr 2012

Source2 — Wed, 08 Aug 2012 13:38:58 +0000

We are pleased to report results for its second quarter and for the six months ended June 30, 2012. For the second quarter, the company recorded gross revenue of $4,525,209 a 17% increase over the same quarter in 2011. Net income was $155,828 as compared to $28,707 in the quarter a year ago. EBITDA, net income, and income per share all showed triple digit increases over 2011. Source2 had an excellent second quarter with solid revenue growth, an increase in gross profit and an overall performance that improved the balance sheet, cash flow position and will ultimately enhance shareholder value. Six month results were even more impressive with net income of $191,540 as compared to an operating loss for the prior year six month period. Our goal as an organization is to focus on being strategic and systematic in our approach to the business, ultimately leading to sustainable results and success going forward.

Announcement: 1st Qtr 2012

Source2 — Tue, 12 Jun 2012 21:44:25 +0000

Source2 is pleased to announce 2012 1st quarter revenue of $5.01 million, which reflects a 45% increase over the prior year (1st quarter 2011). In terms of revenue, this is the most successful first quarter in the history of the company.

The company attributes their growth to providing high performance solutions that increase client’s workforce flexibility while also decreasing their operational costs.

For more information on how Source2 can address productivity and cost-reduction challenges in your organization with our full-service menu of solutions, please contact your Source2 representative.

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Migrating from Fixed to Variable Cost

Source2 — Sun, 03 Jun 2012 20:34:14 +0000

Over the last few years, many companies have chosen to create flexibility in their workforce while reducing labor related cost and improving performance. This change was created as companies looked to convert traditional fixed cost functions to a variable cost model. To learn how Source2 plays a role in this application with our clients, please click on this 2 minute video link:

http://www.source2.com/value-proposition.

It will provide an overview as to why organizations in sectors such as Health Care, Insurance, Government and Utilities are turning to Source2 for creative cost savings solutions that enhance the bottom line.

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Financial Update: 4th Qtr, 2011

Source2 — Wed, 01 Feb 2012 15:31:57 +0000

Source2 is pleased to announce 2011 4th quarter revenue of $5.01 million, which reflects a 62% increase over the prior year (4th quarter 2010). In terms of revenue, this is the most successful quarter in the history of the company.

The company attributes their growth to providing high performance solutions that increase client’s workforce flexibility while also decreasing their operational costs.

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Happy Holidays from Source2

Source2 — Fri, 09 Dec 2011 13:57:16 +0000

The holidays are a great time of year to be thankful for all the good things in your life and appreciate the time you spend with friends and family. Have a fantastic holiday.

-Source2 Management

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Financial Update: 3rd Qtr, 2011

Source2 — Mon, 21 Nov 2011 18:36:33 +0000

Source2 is pleased to announce 2011 3rd quarter revenue of $3.7 million, which reflects a 8% increase over the prior year (3rd quarter 2010). This is the seventh consecutive quarter that Source2 has shown a growth rate in revenue.

The company attributes this continued growth in revenue to continued focus on our outsourcing solutions (RPO, SSO, and FSO) with existing clients and also gaining new customer opportunities.

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Financial Update: 1st Qtr, 2011

Source2 — Thu, 21 Apr 2011 01:00:23 +0000

Source2 is pleased to announce 2011 1st quarter revenue of $3.5 million, which reflects a 9.6% increase over the prior year (2010). The company attributes this increase in revenue to an expansion of our outsourcing model and development of flexible, cost effective solutions for our clients.

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Source2 Lands Two New Client Contracts

Source2 — Thu, 14 Apr 2011 01:00:47 +0000

Source2 is pleased to announce two (2) new client contracts. The first contract is with a national Airport Parking Services Company. In this relationship, Source2 will be responsible for meeting the company’s national hiring and background screening requirements. Source2 will leverage its outsourcing platform of people, process, technology and service metrics to meet the project requirements.

Source2 has also entered into a staff sourcing contract with a local government entity. In this relationship, Source2 will be responsible for recruiting, screening and evaluating new employees as well as performing all HR related services for the employees. The partnership is expected to save the client an estimated $800,000 annually.

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