Team Health News Release (10/31/12)

Team Health Holdings Inc. has announced results for the third quarter of 2012. Net revenue increased 21.6% to $539.2 million from $443.6 million in the third quarter of 2011. Acquisitions contributed 14.3%, new contracts net of terminations contributed 4.4%, and same contracts contributed 2.9% to the net revenue growth. Reported net earnings were $20.5 million compared with net earnings of $15.3 million in the third quarter of 2011.

Net revenue in the nine months ended Sept. 30, 2012, increased 18.8% to $1.52 billion from $1.28 billion for the same period of 2011. Acquisitions contributed 11.0% of the growth, and new contracts, net of terminations, contributed 4.3% of the growth. Same contract revenue contributed 3.5% of the growth in net revenue. Same contract revenue for the nine months ended Sept. 30 increased $44.7 million, or 4.0%, to $1.17 billion from $1.13 billion in the same period a year ago. Reported net earnings were $49.0 million in the nine months, compared with net earnings of $52.2 million in the same period of 2011.

Hudson Global Inc. News Release (11/01/2012)

Hudson Global Inc. has reported revenue of $187.9 million for the third quarter ended Sept. 30, 2012, a decrease of 23.3% from the third quarter of 2011, or 21.0% in constant currency. The company reported gross margin of $67.7 million or 36.0% of revenue, representing a 27.2% decrease from the same period last year, or 24.5% in constant currency. Net loss for the third quarter of 2012 was $2.2 million, compared with net income of $3.4 million for the third quarter of 2011.

Hudson Americas’ gross margin decreased 30% in the third quarter compared with the prior-year period primarily due to reduced project demand in Legal eDiscovery, which had particularly strong growth last year. Third quarter revenues declined 18%. After strong double-digit growth in recent quarters, recruitment process outsourcing gross margin decreased 5% compared with third quarter 2011 due to more cautious hiring by clients.

NASDAQ (10/31/12)

Heidrick & Struggles International Inc. on Oct. 31 announced financial results for its third quarter ended Sept. 30, 2012. Consolidated net revenue was $117.3 million in the third quarter, down 17.5% from $142.2 million in the 2011 third quarter, or approximately 15% on a constant currency basis. Exchange rate fluctuations negatively impacted net revenue by $3.1 million. Year over year, net revenue declined 5.8% in the Americas.

Net revenue in the Americas for the third quarter of 2012 was $72.4 million, compared with $76.9 million for the same period in 2011. Operating income for the Americas unit was $21.3 million, compared with $17.9 million for the third quarter of 2011.

Insperity Inc. News Release (11/01/12)

Insperity Inc. today reported results for the third quarter and nine months ended Sept. 30, 2012. For the third quarter, the company reported net income of $11.5 million and diluted earnings per share of $0.45. For the nine months ended Sept. 30, 2012, the company reported net income of $31.0 million and diluted earnings per share of $1.20.

Revenues for the third quarter of 2012 increased 8.5% over the third quarter of 2011 due to a 7.5% increase in the average number of work site employees paid per month and a 1.0% increase in revenues per work site employee per month. Gross profit increased 13.1% over the third quarter of 2011 to $98.4 million. The average gross profit per work site employee per month increased $13, or 5.3%, to $258 in the third quarter of 2012 from $245 in the 2011 period, primarily due to lower benefits costs.

Bloomberg (11/01/12) Alex Kowalski; Shobhana Chandra

Fewer Americans than forecast filed first-time claims for unemployment insurance last week, an indication demand is strong enough to maintain current staff levels. Applications for jobless benefits fell 9,000 to 363,000 in the week ended Oct. 27, the fewest in three weeks, the U.S. Department of Labor reported today. Economists surveyed by Bloomberg forecasted 370,000 claims. The weekly average of new claims over the past month fell by 1,500 to 367,250.

MarketWatch (11/01/12)

Some 158,000 private-sector jobs were created in October, according to ADP. Service-providing jobs accounted for 144,000 positions, and goods-producing jobs accounted for 14,000 positions. This is the first ADP report to use the company’s newly adopted methodology, which draws from a larger sample size, among other changes. October’s job gains are consistent with the average monthly gains seen over the past two years. “Businesses have turned more cautious in recent months, but that has yet to impact their hiring and firing decisions,” says Mark Zandi, chief economist of Moody’s Analytics.