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Robert Half profit flat

April 23 2008

First-quarter net income at Robert Half International Inc. (NYSE: RHI) was relatively flat, edging up 0.1% year-over-year, the company reported Tuesday afternoon.

The Menlo Park CA-based staffing firm reported first-quarter net income of $70.8 million, compared with $70.7 million in the same period last year.

Gross margin slipped to 41.7% from 42.0% in the first quarter of 2007.

First-quarter revenue, however, rose 11.7% to $1.23 billion from $1.10 billion in the same period last year.

First-quarter revenue at Robert Half's Accountemps division rose 12.3% to $467.4 million. Other divisions' revenue included OfficeTeam, up 5.8% to $219.6 million; Robert Half Technology, up 12.5% to $111.2 million; Robert Half Management Resources, up 16.7% to $170.0 million; Robert Half Finance & Accounting, up 17.2% to $115.6 million; and Protiviti, up 9.0% to $142.1 million.

"We continued to see strong performance in international markets where consolidated, constant currency revenues grew 20% over last year," said Chairman and CEO Harold Messmer Jr. "Revenues from our U.S. operations grew 5% in the first quarter, led by our professional temporary and consulting divisions."

Robert Half International Inc. (NYSE: RHI)
For the first quarter ended March 31, 2008, compared with the same period in 2007.
Revenue: $1.23 billion, +11.7%
Net income: $70.8 million, +0.1%

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