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Robert Half gross margin improves, revenue up

January 30 2013

Global fourth-quarter gross margin improved to 40.3 percent at Robert Half International Inc. (NYSE: RHI) from 39.8 percent in the fourth quarter of last year. Temporary and consulting staffing gross margin was 36.4 percent in the fourth quarter, up 60 basis points over the same period a year ago, the company said in a conference call with analysts.

The improvement in staffing gross margin comes amid strength in pay-bill spreads and higher temp-to-perm conversion fees, the company reported in the conference call.

Robert Half’s fourth-quarter global revenue rose 6.2 percent to $1.03 billion from $973.5 million in the year-ago quarter.

Revenue growth came from the U.S., where revenue rose 9.6 percent on a year-over-year basis in the fourth quarter to $677.0 million. However, year-over-year growth was down from the 17.2 percent reported for the fourth quarter of 2011.

International revenue fell 3.8 percent in the fourth quarter; the decline was 4.4 percent on a same billing day and constant currency basis. International revenue was up 11.5 percent on a year-over-year basis in the fourth quarter of 2011.

Robert Half posted net income of $58.6 million, up 37.5 percent from $42.6 million in the same period last year.

The company estimates first-quarter 2013 revenue of $1.01 billion to $1.06 billion.

Robert Half International ranks as the ninth largest staffing firm in the world.

Robert Half International Inc. (NYSE: RHI)
For the fourth quarter ended Dec. 31, 2012, compared with the same period in 2011.
Revenue: $1.03 billion, +6.2 percent
Net income: $58.6 million, +37.5 percent

For full-year 2012, ended Dec. 31, 2012, compared with the previous year.
Revenue: $4.11 billion, +8.8 percent
Net income: $209.9 million, +40.0 percent

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