Labor Ready Completes Spartan Staffing Purchase

Labor Ready, Inc. (NYSE:LRW) has completed the purchase of the assets of Spartan Staffing, Inc., a privately owned temporary staffing company with approximately $50 million in annual revenue, for $9.5 million in cash. Labor Ready estimates the purchase will add approximately $40 million in revenue and be accretive to consolidated net income per share for fiscal year 2004. Founded in 1986, Spartan Staffing, Inc. has a total of 25 branch offices in Florida, North Carolina, South Carolina, and Texas. Sixteen of these offices operate under the name "Workforce" and have a business model sim...