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Robert Half global staffing revenue falls 0.6%

April 24 2013

First-quarter global temporary and direct hire staffing revenue fell 0.6 percent on a year-over-year basis at Robert Half International Inc. (NYSE: RHI). It had risen 5.8 percent in the fourth quarter and 4.6 percent in the third quarter of 2012.

The first-quarter decline took place at the company’s international operations. International temporary staffing revenue fell 10.7 percent, and international permanent placement revenue fell 16.6 percent.

Revenue rose at Robert Half’s U.S. staffing operations. First-quarter temporary staffing revenue increased 2.9 percent on a year-over-year basis; however, growth slowed from the 9.1 percent year-over-year increase in the fourth quarter. And first-quarter permanent placement revenue rose 14.9 percent.

Global first-quarter revenue in the company’s largest division, Accountemps, fell 2.3 percent to $376.6 million. However, Robert Half Technology revenue rose 4.6 percent to $121.0 million in the first quarter. Robert Half Technology provides IT staffing.

While global temporary staffing and direct-hire revenue fell 0.6 percent in the first quarter, it rose 2.0 percent when viewing the results on a constant currency, same billing days basis.

In addition, the company’s Protiviti division was a bright spot. First-quarter revenue rose 13.6 percent to $116.9 million. It has posted year-over-year revenue growth of 9.7 percent in the fourth quarter. Protiviti is a global business consulting and internal audit division.

Robert Half’s total global revenue rose 0.8 percent to $1.02 billion in the first quarter — within the company’s guidance. And global first-quarter gross margin improved to 40.1 percent from 39.6 percent in the year-ago quarter.

First-quarter net income rose 15.6 percent to $55.9 million.

Robert Half International Inc. (NYSE: RHI)
 For the first quarter ended Mach 31, 2013, compared with the same period in the previous year.
 Revenue: $1.02 billion, +0.8 percent
 Net income: $55.9 million, +15.6 percent


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