Administaff, Inc. (NYSE: ASF) today announced that it is
changing its corporate identity and renaming the company Insperity,
Inc., a leading provider of human resources (HR) and business
performance solutions for America’s best businesses, effective
March 3, 2011. This milestone reflects the company’s evolution over
the past 25 years from a professional employer organization (PEO),
an industry it pioneered, to its current position as a
comprehensive business performance solutions provider.
“The mission of Insperity is to help businesses succeed so
communities prosper. Our goal is to establish Insperity as the
trusted advisor providing HR and business solutions to
performance-driven companies,” said Paul J. Sarvadi, Insperity
chairman and chief executive officer. “The values we have adhered
to during our 25-year history are the foundation of our success,
and those remain unchanged, as does our passion for helping
businesses succeed. Our corporate strategy is to increase value
through a portfolio of businesses with recurring revenue streams,
strong growth potential and substantial cross-selling opportunities
to grow our core PEO business faster. This corporate identity
change is a natural progression of the strategic evolution our
company has undertaken and continues to position us as the industry
leader.”
Insperity business strategy focuses on providing an Insperity
Business Performance Advisor to understand the unique needs of each
company and advise them as to the best method to improve
productivity and profitability. The InsperityTM Workforce
OptimizationTM solution is the most comprehensive business services
bundle in the marketplace including payroll, employee benefits,
workers’ compensation, and a complete HR infrastructure to provide
employment administration, government compliance, policies and best
practices, and training and development programs, among others.
Insperity also offers additional business performance solutions
such as performance management, expense management, time and
attendance, organizational planning, employment screening,
recruiting services, retirement services, business insurance and
technology services, enabling companies to take advantage of the
specific solutions that meet their currents needs.
“Insperity captures the power and growth potential of our new
strategy, and serves to eliminate any confusion about who we are
and what we do,” said Jay E. Mincks, Insperity executive vice
president of sales and marketing. “Our research indicated there
were some misconceptions about the company given the former name,
and we felt this change was essential in order to best position our
industry-leading services and solutions. Insperity is a shining new
identity that reflects our passion to help companies run better,
grow faster and make more money.”
While the company has reached astounding success during its
25-year history, research showed a significant percent of business
owners surveyed thought that Administaff was in the temporary
staffing business. The company is not, and has never been, in this
line of business, but the name led to confusion. This became more
evident over the years, especially during the recession, and the
corporate identity change has been implemented to eliminate any
barriers that might limit the company’s ability to reach a broader
audience.
Insperity will begin trading on the New York Stock Exchange
under the new ticker symbol, NSP, effective, Wednesday, March 9 at
which time the CUSIP number for the common stock will change from
007094105 to 45778Q 107.
A new advertising campaign, created and developed by Insperity’s
marketing department, will launch this month and include television
and radio commercials, as well as print and interactive
advertising. Jim Nantz, CBS sports commentator, who has joined
Insperity’s national spokesperson team along with Arnold Palmer,
will be featured in the campaign.
Insperity, a trusted advisor to America’s best businesses for
more than 25 years, provides an array of human resources and
business solutions designed to help improve business performance.
Insperity Business Performance Advisors offer the most
comprehensive Workforce Optimization solution in the marketplace
that delivers administrative relief, better benefits, reduced
liabilities and a systematic way to improve productivity.
Additional offerings include MidMarket Solutions, Performance
Management, Expense Management, Time and Attendance, Organizational
Planning, Employment Screening, Recruiting Services, Retirement
Services, Business Insurance and Technology Services. Insperity
business performance solutions support more than 100,000 businesses
with over 2 million employees. With 2010 revenues in excess of $1.7
billion, Insperity operates in 58 offices throughout the United
States.
The statements contained herein that are not historical facts
are forward-looking statements within the meaning of the federal
securities laws (Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934). You can
identify such forward-looking statements by the words “expects,”
“intends,” “plans,” “projects,” “believes,” “estimates,” “likely,”
“possibly,” “probably,” “goal,” “objective,” “target,” “assume,”
“outlook,”“guidance,” “predicts,” “appears,” “indicator” and
similar expressions. Forward-looking statements involve a number of
risks and uncertainties. In the normal course of business,
Administaff, Inc., in an effort to help keep our stockholders and
the public informed about our operations, may from time to time
issue such forward-looking statements, either orally or in writing.
Generally, these statements relate to business plans or strategies,
projected or anticipated benefits or other consequences of such
plans or strategies, or projections involving anticipated revenues,
earnings, unit growth, profit per worksite employee, pricing,
operating expenses or other aspects of operating results. We base
the forward-looking statements on our expectations, estimates and
projections at the time such statements are made. These statements
are not guarantees of future performance and involve risks and
uncertainties that we cannot predict. In addition, we have based
many of these forward-looking statements on assumptions about
future events that may prove to be inaccurate. Therefore, the
actual results of the future events described in such
forward-looking statements could differ materially from those
stated in such forward-looking statements. Among the factors that
could cause actual results to differ materially are: (i) changes in
general economic conditions; (ii) regulatory and tax developments
and possible adverse application of various federal, state and
local regulations; (iii) the ability to secure competitive
replacement contracts for health insurance and workers’
compensation contracts at expiration of current contracts; (iv)
increases in health insurance costs and workers’ compensation rates
and underlying claims trends, health care reform, financial
solvency of workers’ compensation carriers and other insurers,
state unemployment tax rates, liabilities for employee and client
actions or payroll-related claims; (v) failure to manage growth of
our operations and the effectiveness of our sales and marketing
efforts; (vi) changes in the competitive environment in the PEO
industry, including the entrance of new competitors and our ability
to renew or replace client companies; (vii) our liability for
worksite employee payroll and benefits costs; (viii) our liability
for disclosure of sensitive or private information; (ix) our
ability to integrate or realize expected returns on our Adjacent
Business strategy, including acquisitions; and (x) an adverse final
judgment or settlement of claims against Administaff. These factors
are discussed in further detail in Administaff’s filings with the
U.S. Securities and Exchange Commission. Any of these factors, or a
combination of such factors, could materially affect the results of
our operations and whether forward-looking statements we make
ultimately prove to be accurate.
Except to the extent otherwise required by federal securities
law, we do not undertake any obligation to update our
forward-looking statements to reflect events or circumstances after
the date they are made or to reflect the occurrence of
unanticipated events.
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