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Kforce Revenue Rises 11%

February 08 2012

Kforce Inc. (NASD: KFRC), a Tampa, Fla.-based professional staffing firm, reported fourth-quarter revenue of $285.6 million, a 10.5 percent increase from revenue of $258.5 million in the fourth quarter of the previous year.

Temporary staffing revenue rose in all but one of the company’s divisions in the fourth quarter:

  • Technology: Up 13.1 percent to $156.5 million
  • Finance/accounting: Up 7.2 percent to $50.9 million
  • Clinical research: Up 15.4 percent to $26.0 million
  • Health information management: Up 17.9 percent to $18.4 million
  • Government solutions: Down 0.2 percent to $23.3 million

Search revenue rose 6.0 percent on a year-over-year basis to $10.4 million in the fourth quarter.

Kforce’s fourth-quarter gross margin narrowed to 31.2 percent from 31.9 percent in the year-ago quarter.

Fourth-quarter net income rose 11.8 percent to $7.1 million from $6.3 million in the fourth quarter of 2010.

Revenue for full-year 2011 totaled $1.11 billion, a 12.1 percent increase from revenue of $990.8 million in 2010. Gross margin for the full year was 31.2 percent, down from 31.5 percent in 2010.

Net income for 2011 totaled $27.2 million, up 31.6 percent from $20.6 million in 2010.

Kforce Inc. (NASD: KFRC)
For the fourth quarter ended Dec. 31, 2011, compared with the same period in the previous year.
Revenue: $285.6 million, +10.5 percent
Net income: $7.1 million, +11.8 percent
For the year ended Dec. 31, 2011 compared with the previous year.
Revenue: $1.11 billion, +12.1 percent
Net income: $27.2 million, +31.6 percent

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