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Kforce revenue up 9% with tech boost

August 04, 2010

Second-quarter revenue rose 8.9% year-over-year at Kforce Inc. to $246.1 million with the technology segment leading the way.

Technology revenue at the Tampa FL-based professional staffing firm rose 18.2% to $134.1 million in the second quarter from $113.5 million in the year-ago quarter.

Kforce also reported second-quarter revenue in its finance and accounting segment rose 5.7% to $43.4 million from $41.1 million in the second quarter of last year.

However, revenue fell 8.6% year-over-year to $27.1 million in its government solutions segment and fell 0.5% in its health and life sciences segment to $41.5 million.

Kforce's second-quarter gross margin rose to 31.9% from 31.7% from the year-ago quarter.

The company posted second-quarter net income of $5.1 million, up 31.7% from $3.9 million in the second quarter of 2009.

Kforce forecast revenue of $252 million to $258 million in the third quarter, up 10.4% to 13.0% from the third quarter of 2009.

Kforce Inc. (NASD: KFRC)
For the second quarter ended June 30, 2010, compared with the same period in 2009.
Revenue: $246.1 million, 8.9%
Net income: $5.1 million, +31.7%