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Kforce Revenue Rises 16%

May 04 2011

Kforce Inc. (NASD: KFRC) reported first-quarter revenue rose 15.8 percent on a year-over-year basis. Revenue for the Tampa, Fla.-based professional staffing firm was $262.4 million in the first quarter, compared with $226.7 million a year ago.

Revenue rose in three of the company’s four segments. Revenue for Kforce’s largest segment, technology, rose 19.6 percent year over year to $143.2 million. Results for its other segments:

• Finance & accounting, up 34.1 percent to $53.8 million
• Health & life sciences, up 4.3 percent to $42.0 million
• Government solutions, down 12.0 percent to $23.4 million

Kforce’s first-quarter gross margin narrowed by two basis points to 29.9 percent from 30.1 percent in the year-ago quarter.

First-quarter net income rose 78.7 percent to $4.8 million from $2.7 million in the first quarter of 2010.

Looking forward, Kforce estimated second-quarter revenue of between $276.0 million and $283.0 million, a year-over-year increase of between 12.1 percent and 15.0 percent.

Kforce Inc. (NASD: KFRC)
For the first quarter ended March 31, 2011, compared with the same period in 2010
Revenue: $262.4 million, +15.8 percent
Net income: $4.8 million, +78.7 percent

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