Smart-Tek Automated Services, Inc., a wholly owned subsidiary of Smart-Tek Solutions, Inc. made the announcement at the beginning of the week that there have been several secured contracts, which are allotting $25 million in additional gross billings in 2010, with gross reportable revenue (in compliance with GAAP) in excess of $4 million, subject to any adverse market changes.
Brian Bonar, CEO of Smart-Tek Automated Services, Inc. states, "We are encouraged by the growth of our Midwest office and will continue to concentrate sales efforts in this region. Having an office in this region provides a tremendous opportunity for Smart-Tek as we are now able to fully service our many clients in this rapidly expanding Midwest market."
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About Smart-Tek Solutions, Inc.:
The parent, Smart-Tek Solutions, Inc., generates revenue from the installation of security systems in construction projects. Its board is currently in negotiations to sell its original business and focus entirely on the PEO business of its wholly owned subsidiary, in order to achieve the best value for its shareholders. The original business generated $3.3 and $3.8 Million of revenue in 2009 and 2008 respectively, and $0 and ($3.1) loss of earnings in 2009 and 2008 respectively.
About Smart-Tek Automated Services, Inc.:
Smart-Tek Automated Services, Inc. provides financial services to small and medium-size businesses, relieving our 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.
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