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Robert Half revenue up 4%; U.S. and Protiviti perform well

October 23 2013

Robert Half International Inc. (NYSE: RHI) reported third-quarter global revenue of $1.08 billion, up 4.1 percent from $1.03 billion in the third quarter of last year and in line with analyst estimates. Gross margin improved to 40.7 percent from 40.2 percent in the year-ago quarter.

Second-quarter revenue from international staffing operations fell 5.2 percent, while revenue at U.S. staffing operations rose 5.2 percent.

“Demand for our professional staffing and consulting services remained strong in the third quarter, led by Protiviti and our technology and permanent placement staffing divisions, particularly in the United States,” said Chairman and CEO Harold “Max” Messmer, Jr.

Third-quarter revenue at the Robert Half Technology division, which provides IT staffing, rose 11.8 percent year over year to $135.3 million.

Global third-quarter revenue in the company’s largest division, Accountemps, fell 0.8 percent year over year to $378.1 million.

Protiviti, the company’s global business consulting and internal audit division, had its best quarter in six years, Messmer said in a conference call with investors. Protiviti reported third-quarter revenue rose 16.3 percent year over year to $139.0 million. Protiviti’s U.S. revenue rose 22 percent to $113 million while revenue outside the United States fell 4 percent to $26 million.

Net income rose 15.6 percent year over year in the third quarter to $66.4 million.

Robert Half expects fourth-quarter revenue to range from $1.05 billion to $1.10 billion.

Robert Half International Inc. (NYSE: RHI)
For the third quarter ended Sept. 30, 2013, compared with the same period in the previous year.
Revenue: $1.08 billion, +4.1 percent
Net income: $66.4 million, +15.6 percent


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