Kforce Reports Total Revenues of $274.1 Million and EPS Increased 10.5% in the Second Quarter of 2012
Kforce Inc. News Release (07/31/12)
Kforce Inc. announced results for its second quarter of 2012. Revenue from continuing operations for the quarter ended June 30 was $274.1 million compared with $268.4 million for the quarter ended March 31, an increase of 2.2%, and compared with $248.0 million for the quarter ended June 30, 2011, an increase of 10.5%. Excluding a noncash goodwill impairment charge recorded in the quarter ended June 30, Kforce reported net income of $8.9 million, or $0.24 per share, versus $4.1 million, or $0.12 per share, for the quarter ended March 31. Excluding the impairment charge, net income and earnings per share for the second quarter of 2012 increased 30.7% and 41.2%, respectively, versus the second quarter of 2011, which had net income of $6.8 million, or $0.17 per share.
David L. Dunkel, chairman and chief executive officer said, “We are particularly pleased with the year-over-year flex revenue increases in health information management; finance and accounting; and tech of 19.1%, 12.7%, and 10.7%, respectively. We remain optimistic about our prospects and are committed in our belief that temporary staffing penetration, which has improved from 1.34% at the beginning of this economic cycle and is currently 1.9% of the work force, will achieve historic highs in the U.S. during this economic expansion.”
Insperity Announces Second Quarter Results
Insperity Inc. News Release (07/31/12)
Insperity Inc. on July 31 reported results for the second quarter and six months ended June 30. For the second quarter, the company reported net income of $5.6 million and diluted earnings per share of $0.22. For the six months ended June 30, the company reported net income of $19.5 million, a 25.6% increase over the $15.5 million earned in the 2011 period. Diluted earnings per share were $0.75, an increase of 27.1% over the 2011 period.
Revenues for the second quarter of 2012 increased 9.8% over the second quarter of 2011 due to an 8.3% increase in the average number of work site employees paid per month and a 1.3% increase in revenues per work site employee per month. Gross profit increased 4.1% over the second quarter of 2011 to $87.3 million.
“We are pleased with the quarter and the first half of 2012, especially against the backdrop of a slowing economy,” says Paul J. Sarvadi, Insperity chairman and chief executive officer. “We are positioned well to continue our business transformation, including cross-selling current and new product offerings over the balance of the year.”
Team Health Holdings Inc. Announces Second Quarter 2012 Financial Results
Team Health News Release (07/31/12)
Team Health Holdings Inc. on July 31 announced results for its second quarter of 2012. Net revenue increased 18.5% to $506.3 million from $427.2 million in the second quarter of 2011. Acquisitions contributed 10.9%, same contracts contributed 4.6%, and new contracts contributed 3.0%.
Team Health president and chief executive officer Greg Roth increased estimates for net revenue growth for fiscal year 2012 to 16% to 17%, up from his prior guidance of 14% to 15%.
The Conference Board Consumer Confidence Index Increases After Four Consecutive Declines
Conference Board News Release (07/31/12)
The Conference Board Consumer Confidence Index, which had declined in June, improved slightly in July. The index now stands at 65.9 (1985=100), up from 62.7 in June. The Expectations Index improved to 79.1 from 73.4. The Present Situation Index, however, decreased slightly to 46.2 from 46.6 a month ago.
Consumers’ assessment of the labor market was mixed. Those stating jobs are “hard to get” declined to 40.8% from 41.2%, while those claiming jobs are “plentiful” decreased to 7.8% from 8.3%. Those expecting more jobs in the months ahead increased to 17.6% from 14.8%, while those anticipating fewer jobs edged down to 20.3% from 20.8%.
ADP: Private Hiring Jumps
Wall Street Journal (08/01/12) Kathleen Madigan
Private-sector employment increased by 163,000 from June to July on a seasonally adjusted basis, according to the latest ADP National Employment Report released today. The gain was far above economists’ median expectation of 108,000 contained in a survey done by Dow Jones Newswires. The estimated gain from May to June was revised down slightly, from the initial estimate of 176,000 to 172,000. The report showed large businesses with 500 employees or more added 23,000 employees in July, while medium-size businesses added 67,000 workers and small businesses that employ fewer than 50 workers hired 73,000 new workers.
U.S. Faces Uphill Battle in Retraining the Jobless
Wall Street Journal (08/01/12) Ianthe Jeanne Dugan; Justin Scheck
The federal government has spent approximately $18 billion on training and job-search programs as part of its economic-recovery plan. However, the government has not done a good job tracking job placement. Furthermore, the government has a mixed record predicting which jobs will need workers. Federal agencies tend to haphazardly allocate cash to programs without ensuring people will be trained for growing fields, says Harvard University professor Lawrence Katz.
A U.S. Department of Labor survey found that only 38% of people found a job in the field in which they were trained. That said, about 80% of the people who received nursing training found nursing jobs, and about 60% of people who received training in construction found construction jobs.
ASA Award Deadline Today
Today is your last chance to submit an entry for the ASA Care Award, National Staffing Employee of the Year, and Staffing VOICE Award programs. If you waited until the last minute, you still have some time—all submissions must be received at ASA by 5 p.m. Eastern time today.
ASA awards are among the most respected in the staffing industry, and only ASA member companies in good standing can enter. For more information about ASA award programs and for links to entry forms, visit americanstaffing.net. For assistance, contact Melissa Beattie, public relations coordinator, at 703-253-2047 or firstname.lastname@example.org.
Share Your Expertise as a Knowledge Network Moderator—Deadline Extended
Volunteer to teach—and learn from—your peers as a table moderator for the Knowledge Network at Staffing World® 2012, Oct. 9-11 in Las Vegas. The Knowledge Network is an excellent opportunity for collaborative learning, and Staffing World attendees consistently rate the roundtable session one of the most popular educational opportunities at the ASA annual convention.
This participant-driven interactive session, which will take place Wednesday, Oct. 10, 2:15–3:30 p.m., involves targeted small group discussions with industry colleagues. Knowledge Network moderators introduce the topic, offer appropriate opening comments, encourage group participation, and guide discussions. Moderators must be registered to attend Staffing World 2012.
Monday, Aug. 13, is the deadline to volunteer to become Staffing World 2012 Knowledge Network moderator. Complete the call for Knowledge Network moderators form and fax it to 866-324-2296 or email it to email@example.com.
For more information about the Knowledge Network, visit staffingworld.org.