Randstad News Release (07/30/15)

Randstad reported revenues of €4.8 billion in the second quarter of 2015, up from €4.3 billion in the second quarter of 2014, an increase of 12.8% (of which 5.8 percentage points were due to foreign exchange).

U.S. business grew 6% in the second quarter, with staffing growing by 7% and professional by 2%. Reported revenue for North America totaled €1.2 billion, with year-to-year organic growth for the quarter at 5%. Underlying profitability improved across all North American businesses.

“Growth in Europe is accelerating and our U.S. business continues to do well,” said Randstad chief executive officer Jacques van den Broek. “We see continued growth in permanent placements and also in managed services and recruitment process outsourcing.”

On Assignment Inc. News Release (07/29/15)

On Assignment Inc. reported revenues of $485.3 million for the second quarter of 2015, up 11.7% (12.8% in constant currency) from $434.4 million in the second quarter of 2014. Excluding acquisitions (Creative Circle on June 5, as well as a small life sciences business in Europe), revenues for the quarter totaled $463.5 million, up 6.7% (7.8% in constant currency).

“Our revenue growth rates were higher than expected and reflected a slight reacceleration in our growth rate for the first time in four quarters,” said On Assignment president and chief executive officer Peter Dameris.

Ciber News Release (07/30/15)

Ciber Inc. reported revenue of $197.9 million in the second quarter of 2015, down 8% (up 2% in constant currency) from $214.6 million in the second quarter of 2014. Net income totaled $2 million, up 53.9% from $1.3 million in the year-ago quarter, excluding restructuring charges and management transition costs. North American revenue totaled $108.8 million, up 3% from $105.2 million in the 2014 second quarter.

Hudson Global Inc. News Release (07/30/2015)

Hudson Global reported revenues of $122.7 million for the second quarter of 2015, down 18.8% (6.9% in constant currency) from $151.1 million in the second quarter of 2014. Net income totaled $13.9 million, up from a net loss of $4.4 million in the year-ago quarter.

Hudson Global divested Americas IT staffing and Netherlands businesses in the second quarter of 2015. Hudson Americas reported revenues of $10.2 million in the second quarter of 2014, down 22.7% from $13.2 million in the second quarter of 2014.

Impellam Group (07/30/2015)

Impellam Group PLC reported revenues of £831.6 million for the first half of 2015, up 35.8% from £612.3 million in the first half of 2014. Operating profit totaled £19.8 million, up 33.8% from £14.8 million in the 2014 first half. Last year, Impellam acquired Lorien and Career Teachers. The company’s U.S. Specialist Staffing segment reported revenue of £44.8 million, down 0.44% from £45 million in the first half of 2014.

Wall Street Journal (07/30/15) Kate Davidson; Eric Morath

Gross domestic product grew at a 2.3% seasonally adjusted annual rate in the second quarter, according to the U.S. Department of Commerce. Economists polled by the Wall Street Journal had forecast 2.7% growth. The economy grew at an upwardly revised 0.6% rate in the first quarter, rather than contracting 0.2%. GDP has risen this year at an average annual rate of 1.5%, compared with 1.9% in the same period a year ago. The slow growth was attributed to a stronger dollar, tepid business investment, and weak consumer spending.

Newly revised data show the expansion of the economy since the end of the recession in 2009 was weaker than previously thought. From 2012 through 2014, GDP rose at an average annual rate of 2%, a 0.3 percentage-point downgrade from prior estimates.

MarketWatch (07/30/15) Jeffry Bartash

The number of people applying for unemployment benefits rose by 12,000 to 267,000 in the week ended July 25, according to the U.S. Department of Labor. Economists polled by MarketWatch had expected claims to increase to 275,000. The average of new claims over the last month fell by 3,750 to a seasonally adjusted 274,750.

Wall Street Journal (07/30/15) Jon Hilsenrath; Ben Leubsdorf

The U.S. Federal Reserve yesterday left its benchmark short-term interest rate near zero, but officials implied that they are seeing enough improvement in the job market to raise interest rates as early as September. Fed officials expressed concern that inflation remains too low, so rates likely will be raised gradually. The Fed previously stated that it would raise interest rates when it saw improvement in the job market and became “reasonably confident” that inflation is on course to return to 2%.

Business Wire (07/29/15)

Cross Country Healthcare Inc. has announced an agreement to sell its Cross Country Education business to PESI Inc.

“Selling this business is a logical next step in executing our stated strategy as we concentrate our resources on our core staffing and workforce solutions businesses,” says William J. Grubbs, president and chief executive officer of Cross Country Healthcare.