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Smart-Tek Inks $30 Million Contract

April 14, 2010 (FinancialWire) — Smart-Tek Automated Services, Inc., (OTCBB: STTN) said that it has signed an agreement to provide PEO services to a national staffing firm. Smart-Tek estimates the deal will generate $30 million in annual gross billings in 2010.

The company said it is expecting a resulting gross reportable revenue in excess of $4 million, subject to any adverse market changes.

California-base Smart-Tek Solutions generates revenue from the installation of security systems in construction projects. Its board is currently in negotiations to sell its original business and focus entirely on the PEO business of its wholly owned subsidiary.

Smart-Tek Automated Services, Inc. provides financial services to small and medium-size businesses, including payroll processing, human resources support, workers' compensation insurance, safety programs, employee benefits, and other administrative and aftermarket services predominantly related to staffing.

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