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Robert Half International Posts 72% Higher Profit

Associated Press (01/26/12)

Staffing firm Robert Half International Inc. reported its fourth-quarter profit jumped 72% to $42.6 million, or 30 cents a share, from $24.8 million, or 17 cents a share, a year earlier. Revenue for the quarter ended Dec. 31 rose 14% to $973.5 million from $851.6 million. Rising demand for its placement services fueled the sharp increase in revenue. The results fell short of analysts’ consensus forecast, which called for earnings of 31 cents a share on $986.2 million in revenue, according to FactSet.

Robert Half officials note the company is seeing strong demand for skilled talent, particularly in the technology and accounting sectors. Revenue in the company’s largest division, Accountemps, increased 14% to $363.8 million, and all its segments posted higher revenue for the quarter.

“Our specialized staffing divisions and Protiviti reported solid results in the fourth quarter. This marks the sixth consecutive quarter of double-digit, year-over-year revenue growth for the company,” says Harold Messmer Jr., chairman and chief executive officer of Robert Half. “Additionally, growth rates in net income and earnings per share have significantly exceeded revenue growth rates during this period.”