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Actionable news in KFRC: Kforce, Inc.,

Kforce: 1001 East Palm Ave

The following excerpt is from the company's SEC filing.

Tampa, FL 33605

(NASDAQ: KFRC)

AT THE FIRM

Michael R. Blackman

Chief Corporate Development Officer

(813) 552-2927

KFORCE REPORTS RECORD THIRD QUARTER REVENUES OF

$341.6

MILLION

AND RECORD QUARTERLY EARNINGS PER SHARE OF

FLEX STAFFING REVENUE UP

YEAR OVER YEAR

ACHIEVES OPERATING MARGIN OF 6.8%

ANNOUNCES 9% INCREASE TO QUARTERLY DIVIDEND

TAMPA, FL,

November 3, 2015

(GLOBE NEWSWIRE) — Kforce Inc. (Nasdaq: KFRC), a provider of professional staffing services and solutions, today announced results for i ts

quarter of

. Revenues for the quarter ended

September 30, 2015

were

million compared to

$337.4

million for the quarter ended

June 30, 2015

increase

, and compared to

$313.8

September 30, 2014

. Net income for the quarter ended

million, or

per share, as compared to

per share, for the quarter ended

. Income from continuing operations was

. Adjusted income from continuing operations, as adjusted for non-recurring charges, for the quarter ended September 30, 2014 was

$9.4 million

per share.

David L. Dunkel, Chairman and CEO, said, “Third quarter revenues of

million and earnings per share of

are new records for the Firm. Our operating margin this quarter of

confirms that our plan for reaching an operating margin of 7.5% at $1.6 billion of annualized revenues is on track. Growth was seen across our staffing business lines as our combined Flex staffing revenue grew

year-over-year, led by another strong performance in FA Flex of

revenue growth year-over-year. The deceleration in Tech Flex revenues, which grew

year-over-year, is the result of client-specific issues and not the result of any fundamental changes in market demand. We believe the overall demand for highly skilled Tech resources remains strong and the many drivers in this space remain firmly intact. In addition, secular drivers continue to be a key factor in flexible staffing growth, driven both by the project nature of work as well as our clients' desire to minimize employment risk. I want to thank all of our clients, consultants and employees for making the

quarter of 2015 a successful quarter for Kforce.”

Joseph J. Liberatore, President, said, “Our key performance indicators, such as job orders, remain strong in both Tech and FA. We believe that the client-specific issues that slowed our Tech Flex growth in the third quarter are unique and short-term in nature and not indicative of the broader demand for highly skilled Tech resources. We are seeing strong demand across many industries, such as Financial Services, Insurance Services, Computer Manufacturing and Retail which all continue to out pace our overall Tech Flex growth rates. This continued strength in demand suggests we have additional opportunity to further penetrate our expansive client base and, as a result, we plan to more aggressively add to our Tech Flex sales associate population. We continue to focus on our client, consultant and core associate relationships to drive results, and expect to drive forward with momentum as we head into 2016.”

Mr. Liberatore noted additional operational results for the

quarter include:

Flex revenues of

$327.4

million in Q3 ‘15

$301.3

million in Q3 ‘14.

Year-over-year growth in Flex revenue for Tech and FA was

, respectively, while Government Solutions experienced a decline of

Direct Hire revenues of

Revenue-generating associates increased 10.1% year-over-year.

David M. Kelly, Chief Financial Officer, said, “We are ahead of schedule in meeting our earnings goals. Despite revenue growth falling short of guidance this quarter, the Firm exceeded expectations on profitability, both through improved gross margins and operating leverage. This improvement provides the flexibility to invest in our business and still should allow us to meet or exceed our 7.5% operating margin target when $1.6 billion in annualized revenue is reached. We also now believe that we will attain operating margins of at least 6.3% as annualized revenues reach $1.4 billion while still investing in the business. We continue to return a significant amount of capital to our shareholders in the form of dividends and share repurchases, which is further confirmation of our belief in the strength of our business.

We are pleased to announce that our Board of Directors declared a fourth quarter cash dividend on Kforce common stock of $0.12 per share, an increase of 9% over the previous...


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