First-quarter revenue at Kforce Inc. (NASDAQ: KFRC) fell 13.3% to $351.9 million. Performance was generally consistent with expectations, though the professional staffing cited encouraging new assignment trends in March in its tech business.

Speaking in a conference call with analysts, Kforce President and CEO Joseph Liberatore noted that concerns over a possible recession and the wars in Ukraine and Israel continue to impact the market.

“Against this backdrop, our clients, broadly speaking, have continued to exercise a degree of caution initiating new technology investments,” he said. “Importantly, this restraint does not appear to be increasing but rather appears to be fairly stable.”

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Guidance

Kforce forecast second-quarter revenue of between $352.0 million and $360.0 million, a year-over-year decrease of between 7.5% and 9.6%.

Share price

Shares in Kforce were down 4.34% to $61.44 as of 12:05 p.m. Eastern time today. They were 20.73% above their 52-week low.