IT Staffing Report: Aug. 2, 2018

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Kforce revenue rises 5%; tech temp staffing grows

Kforce Inc. (NASD: KFRC) reported second-quarter revenue rose 5.4%. Revenue growth came from technology, the firm’s largest single segment. However, revenue fell 9.6% in finance and accounting, the company’s second-largest segment.

Overall, second-quarter flex revenue rose 5.6% at the Tampa, Fla.-based professional staffing provider. However, direct-hire revenue fell 9.5%.

Kforce subsidiary Kforce Government Solutions Inc. posted a double-digit revenue increase. The division appointed President Maureen Coyle as CEO, effective July 1; she replaced Pat Moneymaker, who held the role since 2014 and remains chairman of the board.

Revenue by function and segment

Gross margin by segment

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“As we head into the second half of 2018, we expect continued strength in our Tech Flex business, as companies continue to invest in technology to more effectively and efficiently meet the needs of their customers and improve their profitability, and are also focused on positioning our FA Flex business for future growth,” Chairman and CEO David Dunkel said.