SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of
the Securities Exchange Act of 1934
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Date of Report (Date of Earliest Event Reported):
November 12, 1998
Modis Professional Services, Inc.
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(Exact name of registrant as specified in its charter)
Florida 0-24484 59-3116655
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(State of Incorporation) (Commission file number) (IRS Employer
Identification No.)
1 Independent Drive, Jacksonville, FL 32202
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(Address of principal executive office including zip code)
(904) 360-2000
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(Registrant's telephone number)
Item 5. Other Events
Effective September 27, 1998, the Company sold the operations and certain assets
of its Commercial Businesses to Randstad U.S., L.P ('Randstad') for $850 million
in cash. The disposition of the Commercial Businesses represents the disposal of
a segment of the Company's businesses. Accordingly, Managements Discussion and
Analysis of Financial Condition and Results of Operations and the Consolidated
Financial Statements for the years ended December 31, 1997, 1996 and 1995 have
been reclassified to exclude the revenues, costs and expenses, assets and
liabilities, and cash flows of the Commercial Businesses sold. The net operating
results of the Commercial Businesses have been reported, net of applicable
income taxes, as 'Income from Discontinued Operations', the net assets of the
Commercial Businesses have been reported as 'Net Assets of Discontinued
Operations', and the net cash flows of the Commercial Businesses have been
reported as 'Net Cash Provided by (Used In) Discontinued Operations'.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits
(27) Financial Data Schedule
(99.1) Selected Financial Highlights
(99.2) Managements discussion and analysis of results of operations for the
Three years in the period ended December 31, 1997 and as of December
31, 1997 and 1996.
(99.3) Audited Consolidated Financial Statements
(23.1) Consent of PricewaterhouseCoopers LLP
(99.4) Press Release Dated November 12, 1998
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.
AccuStaff Incorporated
November 12, 1998
Date By:/s/ Derek E. Dewan
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Derek E. Dewan, Chairman, President and
Chief Executive Officer
November 12, 1998 By:/s/ Michael D. Abney
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Michael D. Abney, Senior Vice President and
Chief Financial Officer
November 12, 1998 By:/s/ Robert P. Crouch
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Robert P. Crouch, Vice President and Controller