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.”