HOUSTON--(BUSINESS WIRE)--Oct. 15, 2007--Administaff, Inc.
(NYSE:ASF), a leading provider of human resources services for small
and medium-sized businesses, today announced that a company laptop
computer containing personal information about individuals who were
Administaff worksite employees during calendar year 2006 has been
reported missing.
The facts as determined by the company's investigation strongly
indicate that this was a random event, and that the personal
information was not specifically targeted. At this time, the company
has no reason to believe that the personal information has been
accessed or used improperly. The laptop computer, which was reported
missing on Oct. 3, 2007, is password protected; however, the personal
information was not saved in an encrypted location, which is a clear
violation of company policies.
The confidential data was being compiled in response to a
governmental reporting requirement and included names, addresses and
Social Security numbers for most worksite employees paid by
Administaff in 2006.
The company is taking steps to notify approximately 96,000 former
worksite employees and approximately 63,000 current worksite employees
in writing and will offer to them one year of free credit monitoring
services with fraud resolution assistance. Administaff has also
established a toll-free dedicated helpline and Web site for affected
individuals and clients. Affected individuals can find additional
information to assist them at http://www.administaff.com/idprotection.
"Maintaining the integrity of confidential information is of
utmost importance to Administaff, and we continue to take appropriate
measures to safeguard the security of personal data," said Paul J.
Sarvadi, Administaff chairman and chief executive officer. "We deeply
regret that this incident occurred. While we have no evidence to
suggest the information stored on the computer has been accessed or
misused, we are taking precautionary measures to ensure that the
affected individuals have resources available to protect themselves."
Administaff is the nation's leading professional employer
organization (PEO), serving as a full-service human resources
department that provides small and medium-sized businesses with
administrative relief, big-company benefits, reduced liabilities and a
systematic way to improve productivity. The company operates 47 sales
offices in 23 major markets. For additional information, visit
Administaff's Web site at http://www.administaff.com.
The statements contained herein that are not historical facts are
forward-looking statements within the meaning of the federal
securities laws (Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934). You can identify such
forward-looking statements by the words "expects," "intends," "plans,"
"projects," "believes," "estimates," "likely," "possibly," "probably,"
"goal," "objective," "target," "assume," "outlook," "guidance,"
"predicts," "appears," "indicator" and similar expressions.
Forward-looking statements involve a number of risks and
uncertainties. In the normal course of business, Administaff, Inc., in
an effort to help keep our stockholders and the public informed about
our operations, may from time to time issue such forward-looking
statements, either orally or in writing. Generally, these statements
relate to business plans or strategies, projected or anticipated
benefits or other consequences of such plans or strategies, or
projections involving anticipated revenues, earnings, unit growth,
profit per worksite employee, pricing, operating expenses or other
aspects of operating results. We base the forward-looking statements
on our current expectations, estimates and projections. These
statements are not guarantees of future performance and involve risks
and uncertainties that we cannot predict. In addition, we have based
many of these forward-looking statements on assumptions about future
events that may prove to be inaccurate. Therefore, the actual results
of the future events described in such forward-looking statements
could differ materially from those stated in such forward-looking
statements. Among the factors that could cause actual results to
differ materially are: (i) changes in general economic conditions;
(ii) regulatory and tax developments and possible adverse application
of various federal, state and local regulations, including but not
limited to the California State Unemployment Tax matter; (iii) changes
in our direct costs and operating expenses including, but not limited
to, increases in health insurance costs and workers' compensation
rates and underlying claims trends, financial solvency of workers'
compensation carriers and other insurers, state unemployment tax
rates, liabilities for employee and client actions or payroll-related
claims, changes in the costs of expanding into new markets, and
failure to manage growth of our operations; (iv) the effectiveness of
our sales and marketing efforts; (v) changes in the competitive
environment in the PEO industry, including the entrance of new
competitors and our ability to renew or replace client companies; (vi)
our liability for worksite employee payroll and benefits costs; and
(vii) an adverse final judgment or settlement of claims against
Administaff. These factors are discussed in further detail in
Administaff's filings with the U.S. Securities and Exchange
Commission. Any of these factors, or a combination of such factors,
could materially affect the results of our operations and whether
forward-looking statements we make ultimately prove to be accurate.
CONTACT:
Administaff, Inc.
Investor Relations Contact:
Douglas S. Sharp, 281-348-3232
Vice President of Finance,
Chief Financial Officer and Treasurer
Douglas_Sharp@Administaff.com
or
News Media Contact:
Jason Cutbirth, 281-312-3085
Managing Director of
Marketing and Corporate Communications
Jason_Cutbirth@Administaff.com
SOURCE:
Administaff, Inc.
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