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Kforce revenue rises 4%

February 06 2013

Kforce Inc. (NASD: KFRC), a Tampa, Fla.-based professional staffing firm, reported fourth-quarter revenue of $269.8 million, a 4.0 percent increase from revenue of $259.3 million in the fourth quarter of the previous year.

Fourth-quarter technology staffing revenue rose 4.2 percent on a year-over-year basis to $167.6 million. Fourth-quarter revenue in other business lines included:

  • Finance and accounting: Up 3.4 percent to $58.6 million
  • Health information management: Up 4.5 percent to $19.4 million
  • Government solutions: Up 4.0 percent to $24.2 million

Kforce’s total flexible staffing revenue rose 3.8 percent to $258.7 million in the fourth quarter from $249.2 million in the fourth quarter of last year. The fourth quarter of 2012 included one more billing day than 2011. But revenue per billing day still rose 2.2 percent in the fourth quarter to $4.2 million when compared to the fourth quarter of 2011.

Fourth-quarter search revenue rose 9.2 percent to $11.1 million from $10.2 million in the year-ago quarter.

Kforce’s fourth-quarter gross margin improved to 32.8 percent from 31.7 percent in the year-ago quarter.

Fourth-quarter net income fell 13.6 percent year over year to $6.1 million. Kforce reported a goodwill impairment charge of $3.9 million in the fourth quarter related to its government solutions unit.

Kforce Inc. (NASD: KFRC)
For the fourth quarter ended Dec. 31, 2012, compared with the same period in the previous year.
Revenue: $269.8 million, +4.0 percent
Net income: $6.1 million, -13.6 percent

For the year ended Dec. 31, 2012 compared with the previous year.
Revenue: $1.08 billion, +7.7 percent
Net Loss: $13.7 million compared to net income of $27.2 million

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