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Kforce Revenue Rises 11%

November 02 2011

Kforce Inc. (NASD: KFRC), a Tampa, Fla.-based professional staffing firm, reported third-quarter revenue of $289.0 million, up 11.4 percent from year-ago revenue of $259.5 million.

Revenue rose year over year in three of the company’s four segments. Revenue in its largest segment, technology, rose 16.6 percent year over year to $165.5 million. Results for its other segments:

Finance & accounting revenue rose 8.2 percent to $54.3 million, and health & life sciences revenue rose 10.0 percent to $45.3 million.

However, Kforce’s government solutions revenue fell 8.8 percent to $23.9 million.

Kforce’s third-quarter gross margin narrowed to 31.8 percent from 32.2 percent in the year-ago quarter.

Third-quarter net income rose 31.1 percent to $8.4 million from $6.8 million in the third quarter of 2010.

Looking forward, Kforce estimated second-quarter revenue of between $278 million to $285 million, compared with revenue of $258.5 million in the 2010 fourth quarter.

Kforce Inc. (NASD: KFRC)
For the third quarter ended Sept. 30, 2011, compared with the same period in 2010
Revenue: $289.0.4 million, +11.4 percent
Net income: $8.4 million, +31.1 percent

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