Kforce Inc. Reports Record Revenues of $299.7 Million and Earnings of $0.27 Per Share
Kforce Inc. News Release (10/29/13)
Kforce Inc. reported revenues of $299.7 million in the third quarter of 2013, up 10.9% from $270.2 million during the same period last year. Net income was $9 million, down 3.1% from $9.3 million in the third quarter of 2012. The company also reported $287.4 million in flex revenue, up 11.5% from $257.8 million, and $12.2 million in search revenue, down 1% from $12.4 million.
“The talent investments we have made are taking hold, demand is strong, and we expect an acceleration of year-to-year growth in the fourth quarter,” said Kforce chairman and chief executive officer David Dunkel.
CDI Corp. Reports Third Quarter 2013 Results
CDI Corp. News Release (10/30/13)
CDI Corp. reported revenues of $277.9 million in the third quarter of 2013, down 0.5% from $279.4 million during the same period last year. Net income was $4.5 million, down 15% from $5.3 million in the third quarter of 2012. The company also reported revenue of $81.5 million for its Global Engineering and Technology Solutions segment, down 2.5% from $83.6 million; $182 million for its Professional Services Staffing segment, up 2% from $178 million; and $14.4 million for its Management Recruiters International segment, down 17.5% from $17.5 million.
BBSI Reports Third Quarter 2013 Financial Results
Barrett Business Services Inc. reported gross revenue of $764.1 million, mostly from its professional employer services business, up 37% from $558 million in the third quarter of 2012. Net revenues were $148 million in the third quarter of 2013, up 33% from $111.1 million in the year-ago period.
The company also reported net income of $9 million, up 55% from $5.8 million during the same period last year. By segment, the company reported revenue of $722.4 million for professional employer services, up 38% from $521.8 million, and $41.7 million for staffing services, up 15% from $36.2 million.
ADP National Employment Report: Private Sector Employment Increased by 130,000 Jobs in October
ADP Employment Report (10/30/13)
According to the ADP National Employment Report, 130,000 private sector jobs were added between September and October, after considering seasonal adjustments. Small businesses added 37,000 employees; medium businesses added 13,000 employees; and large businesses added 81,000 employees. Small-business growth decreased from the previous month, and the total jobs added were well below the average for the past year.
Labor Department Broadens Producer Price Index to Include Services
Wall Street Journal (10/29/13) Jonathan House
The U.S. Department of Labor will begin including services in its measure of wholesale prices. The producer price index has become outmoded as the nation’s economy has increasingly moved from manufacturing to services. The new system will mean DOL’s Bureau of Labor Statistics will be able to measure wholesale prices across 75% of the U.S. economy, up from 33%. The new system will go into effect next year when DOL publishes its report on January 2014 producer prices in February.
Participate Now—ASA Staffing Industry Compensation Survey Closes Friday
This week is your last chance to participate in the ASA Staffing Industry Compensation Survey. The most comprehensive survey of its kind, the survey will culminate with reports that allow staffing firms to easily see how their compensation, incentive, and benefits structures compare with those of similar firms.
Just in time for 2014 budget planning, this survey collects information on salaries, variable pay, and benefits for 29 positions specific to the staffing industry. All survey participants and ASA members receive a discounted price on the survey reports. Find out how to sign up, enter your company data, and run online reports on various positions at americanstaffing.net.