Robert Half International Inc. (NYSE: RHI) reported revenue in Robert Half Technology, its IT staffing division, rose 11.0 percent in the third quarter to $150.2 million. The division had posted year-over-year growth of 7.8 percent in the second quarter and 9.3 percent in the first quarter.
The company ranks as the 10th-largest IT staffing firm in the US and is the sixth-largest staffing firm, overall, in the US.
Total revenue at Robert Half rose 13.9 percent year over year in the third quarter to $1.22 billion, near the top end of guidance. The increase was 13.4 percent when put in constant currency and adjusted for billing day impact. Net income at the Menlo Park, Calif.-based firm rose 28.4 percent year over year in the third quarter to $85.2 million.
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“We remain bullish on the technology staffing market,” CFO Keith Waddell said in a conference call with analysts. “It is still a candidate-driven market for which you need more recruiters. To continue to grow that business at the rate we’re growing it, we will need to continue to add recruiters, which we plan to do so. But clearly, it is easier to get orders than it is to find candidates, and that is particularly true at the development side: app development, Web development, software engineers, the higher-level tech skills.”
Revenue
| Q3 2014 (000s) | Q3 2013 (000s) | % growth | |
| Revenue | $1,224,308 | $1,075,119 | 13.9% |
Revenue by segment
| Q3 2014 (000s) | Q3 2013 (000s) | % growth | |
| Accountemps | $416,413 | $378,117 | 10.1% |
| OfficeTeam | $237,723 | $208,360 | 14.1% |
| Robert Half Technology | $150,166 | $135,275 | 11.0% |
| Robert Half Management Resources | $149,923 | $126,134 | 18.9% |
| Robert Half Finance & Accounting | $102,345 | $88,222 | 16.0% |
| Protiviti | $167,738 | $139,011 | 20.7% |
Gross margin
| Q3 2014 | Q3 2013 | |
| Gross margin | 41.3% | 40.7% |
Net income
| Q3 2014 (000s) | Q3 2013 (000s) | % growth | |
| Net income | $85,184 | $66,358 | 28.4% |
