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Third-quarter revenue rose approximately 20.5 percent at professional staffing firm Robert Half International Inc. (NYSE: RHI) to $984.7 million from third quarter 2010 revenue of $817.3 million.
“Companywide revenues have grown faster following the last recession than in periods following other downturns,” Chairman CEO Harold “Max” Messmer Jr. said in a conference call with analysts. “In our staffing divisions there has been a tightening labor supply in some specialties, particularly for information technology positions. Within the professional disciplines we serve, the unemployment rate is much lower than the overall U.S. rate, and this has contributed to a stronger pricing environment.”
Each of the company’s segments reported year-over-year increases in third-quarter revenue:
- Accountemps, up 17.3 percent to $366.4 million
- OfficeTeam, up 20.1 percent to $196.3 million
- Robert Half Technology, up 30.4 percent to $113.8 million
- Robert Half Management Resources, up 20.5 percent to $118.2 million
- Robert Half Finance & Accounting, up 38.2 percent to $79.1 million
- Protiviti, up 12.1 percent to $110.9 million
Third-quarter revenue from international staffing operations was $264 million in the third quarter up 29 percent (or 19 percent on a constant currency basis) from the year-ago quarter, CFO M. Keith Waddell said in a conference call with analysts.
Robert Half’s third-quarter gross margin improved to 39.8 percent from 37.8 percent in the year-ago quarter.
Third-quarter net income rose to $44.2 million from $20.6 million in the third quarter of last year.
Robert Half International Inc. (NYSE: RHI)
For the third quarter ended Sept. 30, 2011, compared with the same period in the previous year.
Revenue: $984.7 million, +20.5 percent
Net income: $44.2 million, +114.2 percent