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Robert Half International (RHI:NYQ), the US-quoted specialised staffing and risk consulting services group has released interim results for the third quarter of 2009 ended 30 September 2009.
Worldwide 3Q revenues were down from $1.6 billion in Q3 2008 to $726 million in Q3 2009. Gross profits were down from $483.5 million in 2008 to $266.4 million 2009. Income before income tax was down from $110 million in 2008 to $17.4 million in 2009.
Operating income from permanent placement staffing was down from $15.3 million in 2008 to -$781,000 in 2009. Operating income from risk consulting and internal audit services was down from $3.9 million in 2008 to $1 million in 2009.
Operating income from temporary and consulting staffing was down from $90.1 million in 2008 to $17.2 million in 2009.
Traditionally the company does not differentiate between US and European earnings.
Harold M. Messmer, Jr., chairman and CEO of Robert Half International, commented "while the global business environment during the third quarter remained challenging, year-over-year revenue declines in our staffing operations continued to moderate and, on a sequential basis, we saw some improvement in revenues in September. Our risk consulting subsidiary, Protiviti, reported an 8% sequential increase in third-quarter revenues compared to the second quarter and reported significantly improved operating results."
Messmer added, "we remain confident that our teams are well-positioned to take advantage of a recovering economy in North America and abroad."
In early trading Robert Half's shares were down by -6.33% to $24.73