Administaff Updates Projections, SEC Inquiry

Administaff, Inc. (NYSE: ASF), a national Professional Employer Organization (PEO), yesterday updated a number of key metrics for the fourth quarter of 2002. These metrics reflect the successful execution of the company's plan to improve profitability initiated in mid-year 2002. The company also provided an update on other areas affecting the company's operations. All results are preliminary pending completion of the annual audit. Administaff's plan was designed to improve profitability and liquidity, and to establish a solid foundation for 2003. The plan focused on four priorities: 1) Rec...