On Assignment Reports 3rd-Quarter Income Up 8%

On Assignment, a Canoga Park temporary lab-help firm, said its third-quarter net income rose 8% on a similar increase in revenue and announced an exclusive sales and marketing agreement with pharmaceuticals giant Baxter International Inc.

The lab-support company said it earned $582,000 in the three months that ended Sept. 30, compared with $539,000 in last year’s third quarter. Sales climbed 8% in the latest quarter, to $9.3 million from $8.7 million.

For the first nine months, On Assignment posted a 46% profit increase, to $1.7 million, compared with $1.2 million a year earlier. Its revenue for the nine months rose 18%, to $27.8 million from $23.6 million.

Under the agreement with Baxter, the pharmaceuticals concern’s scientific products division will offer the services of On Assignment’s temporary lab workers to its customers. On Assignment said it hopes the agreement will expand its share of the market for such services.