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Kforce Inc. (NASD: KFRC), a Tampa, Fla.-based professional staffing firm, reported first-quarter revenue of $268.4 million, a 13.5 percent increase from revenue of $259.3 million in the year-ago quarter.
Temporary staffing revenue rose year-over-year in all but one of the company’s divisions in the first quarter:
- Technology: Up 15.7 percent to $165.7 million
- Finance/accounting: Up 11.9 percent to $60.3 million
- Health information management: Up 21.6 percent to $19.5 million
- Government solutions: Down 1.6 percent to $23.0 million
The company reported first-quarter results were impacted by the sale of its clinical research division, which is now reported as discontinued operations. For more information, click here.
Search revenue rose 12.3 percent on a year-over-year basis to $11.0 million in the first quarter.
Kforce’s first-quarter gross margin narrowed to 30.1 percent from 30.2 percent in the year-ago quarter.
First-quarter net income fell 15.8 percent to $4.1 million from $4.8 million in the year-ago quarter.
Kforce forecast second-quarter revenue of between $274.0 million to $281.0 million, ranging from roughly flat to a year-over-year increase of 2.6 percent.
Kforce Inc. (NASD: KFRC)
For the first quarter ended March 31, 2011, compared with the same period in the previous year.
Revenue: $268.4 million, +13.5 percent
Net income: $4.1 million, -15.8 percent