Company: ASGN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000890564-25-000028
Chunk: 38

Company: ASGN Inc
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 38
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The provision for income taxes was $10.3 million, down from $15.2 million in the first quarter of 2024 due to lower income before income taxes. The effective tax rate was 33.0 percent, up from 28.5 percent in the first quarter of 2024. The increase in the effective tax rate relates to tax shortfalls on stock-based compensation.

Net Income

Net income was $20.9 million, down from $38.1 million in the first quarter of 2024.

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Commercial Segment - Consulting Metrics

Commercial consulting bookings are the value of new contracts entered into during a specified period, including adjustments for the effects of changes in contract scope and contract terminations ("Bookings"). The underlying contracts are terminable by the client on short notice with little or no termination penalties. Measuring Bookings involves the use of estimates and judgments and there are no independent standards or requirements governing the calculation of bookings. Information regarding Bookings is not comparable to, nor should it be substituted for, an analysis of reported revenues. The book-to-bill ratio for our commercial consulting revenues is the ratio of Bookings to commercial consulting revenues for a specified period. The average duration of commercial consulting projects is approximately one year.

Three Months EndedTrailing-Twelve-Months EndedMarch 31,March 31,(Dollars in millions)2025202420252024Bookings$336.9 $323.2 $1,295.0 $1,283.2 Book-to-Bill Ratio1.2 to 11.2 to 11.1 to 11.2 to 1

Federal Government Segment Metrics

Contract backlog for our Federal Government Segment represents the estimated amount of future revenues to be recognized under awarded contracts, including task orders and options, at a point in time ("Contract Backlog"). These estimates are subject to change and may be affected by the execution of new contracts, the extension or early termination of existing contracts, the non-renewal or completion of current contracts, and adjustments to estimates for previously included contracts. There is no assurance our contract backlog will result in future revenues. The timing of the execution of new contracts and other changes are affected by the funding cycles of the government and can vary from quarter to quarter. New contract awards are the estimated amount of future revenues to be recognized under contracts awarded during a specified period, including adjustments to estimates for contracts awarded in previous periods (“New Contract Awards”).  Information regarding New Contract Awards is not