Kforce Inc. News Release (10/30/12)

Kforce Inc. reported revenues from continuing operations for the third quarter of 2012 were $270.2 million, a decrease of 1.4% from the second quarter and an increase of 3.5% over the third quarter of 2011. Kforce reported net income of $9.3 million for the third quarter of 2012, versus $8.9 million for the second quarter and $8.4 million for the third quarter of 2011, a year-over-year increase of 9.7%.

David L. Dunkel, chairman and chief executive officer, says, “The environment for professional staffing and the demand for our services, particularly in technology staffing, continues to be positive. Over the past few quarters, however, revenue growth has slowed as the uncertain economic outlook is dampening demand. The unemployment rate among college-degreed workers is roughly half that of the overall U.S. rate of unemployment, and is substantially lower in several of the skill sets in which Kforce specializes. We continue to see bill rates increase as supply for highly skilled candidates remains tight.”