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WIKI ANALYSIS
General Employment Enterprises (AMEX: JOB) provides professional staffing services which are focused on information technology, accounting, and engineering placements. The Company provides employers with a full range of staffing options (including direct hire, contract, and contract to hire services) through a network of offices in major metropolitan markets across the U.S.
Each of the Company's branches has access to a computerized database of pre-screened, personally interviewed professional applicants with the ability to perform additional background screening and skill testing for employers. JOB offers its services at competitive rates along with an unconditional 30-day, 100% cash refund guarantee for employers and is free for professional job candidates, who have access to the Company's nationwide job database along with other services such as interview counseling and follow-up.
The Company's 3Q09 results were adversely impacted by one-time charges, reflecting $350,000 in costs to close eight branch offices located in three metropolitan areas. Excluding the provision for additional compensation and the provision for the cost of closing offices, the JOB's net loss for the third quarter was $0.8 million or ($0.16) per share. As of 7/1/09, the Company implemented a strategic restructuring of its corporate and field operations to restore future growth and this involved $1.5 million in one-time, non-cash restructuring charges.
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