FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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CURRENT REPORT
Pursuant to Section 13 or 15 (d)
of the Securities and Exchange Act of 1934
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Dated: March 14, 1997
Employee Solutions, Inc.
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(Exact name of registrant as specified in its charter)
Arizona 0-22600 86-0676898
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
2929 East Camelback Road, Suite 220, Phoenix, Arizona 85016
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (602) 955-5556
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ITEM 5. OTHER EVENTS
On March 14, 1997, Employee Solutions, Inc. (the "Company") issued a
press release, attached as Exhibit 99, regarding the reporting of its 1996
financial results. Such press release is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
1. Exhibits. See exhibit index attached hereto.
2. Financial Statements. None.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
EMPLOYEE SOLUTIONS, INC.
By:/s/ Marvin D. Brody
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Marvin D. Brody
Chief Executive Officer
Date: March 14, 1997
2
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EMPLOYEE SOLUTIONS, INC.
FORM 8-K
DATED MARCH 14, 1997
EXHIBIT INDEX
Exhibit No. Description Filed Herewith
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99 Press release dated March 14, 1997 X
EI-1
Exhibit 99
FOR IMMEDIATE RELEASE
Contacts: Marvin D. Brody, Chairman and Chief Executive Officer
Morris C. Aaron, Chief Financial Officer
(602) 955-5556
EMPLOYEE SOLUTIONS, INC. PROVIDES ADDITIONAL INFORMATION
PHOENIX, AZ / March 14, 1997 --- Employee Solutions, Inc. (NASDAQ NM: ESOL)
confirmed today that it intends to report its financial results for the year and
fourth quarter ended December 31, 1996 as soon as practicable. As a result of
several matters remaining to be finalized, the Company is unable at this time to
estimate when the results will be released. A conference call with analysts and
other interested persons will be scheduled to take place shortly after results
are announced. The Company yesterday stated that it would not then announce
results as previously planned.
Although announcement of results remains subject to finalization of the
Company's 1996 financial information, the Company stated that it expects to
report net earnings for both the fourth quarter and for the year ended December
31, 1996 but that net earnings for the fourth quarter will be below analysts'
published expectations.
Employee Solutions, Inc. is a leading professional employer organization (PEO)
providing employers throughout the United States with comprehensive employee
payroll, human resources and benefits outsourcing services. The Company's
integrated outsourcing services include payroll processing and reporting, human
resources administration, employment regulatory compliance management, risk
management/workers' compensation insurance services, retirement and healthcare
programs as well as non-employment related products and services provided
directly to worksite employees.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this release which are not historical facts
are forward-looking statements subject to risks and uncertainties that could
cause actual results to differ materially from those set forth in the
forward-looking statements, including the need to complete and confirm certain
underlying data, the availability and timing of certain non-company information
and confirmations, the inherent necessity of using judgments as to the
application of accounting principles and estimates in the preparation of
financial statements, and other factors and risks detailed in the Company's
Report on Form 10-Q for the quarter ended September 30, 1996.
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