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Kforce Inc. (KFRC) is a leading professional staffing services firm specializing in technology and finance & accounting sectors. With a national network of 60 offices, two national recruiting centers, and over 2,000 staffing specialists, Kforce connects more than 23,000 highly skilled professionals annually with over 4,000 clients, including 70% of the Fortune 100 companies. Kforce operates through two primary business segments:
- Technology Segment: Offers talent solutions in areas such as systems/applications architecture, data management and analytics, business intelligence, artificial intelligence, machine learning, project and program management, and network architecture and security.
- Finance & Accounting (FA) Segment: Provides consultants for traditional finance and accounting roles including finance planning and analysis, business intelligence analysis, general accounting, transactional accounting, business and cost analysis, taxation, and treasury.
Kforce's name, Knowledgeforce®, reflects the combination of the highly skilled professionals they represent and the extensive knowledge gained from over 50 years of industry experience. The company prides itself on making the right match for its clients and achieves this through a focus on quality and efficiency.
The company's financial condition remains robust, with a clean balance sheet and strong cash flows that provide flexibility for strategic investments and significant capital returns to shareholders. Despite the uncertain economic environment, Kforce is well-positioned to benefit from a backlog of desirable investments that its clients are eager to prioritize once macroeconomic uncertainties begin to clear.
Kforce's recent achievements include participation in high-profile industry events such as the 8th Annual Wells Fargo FinTech, Information & Business Services Forum and the Northcoast Research Fall Forum. These engagements highlight Kforce's commitment to staying at the forefront of industry developments and trends.
Joseph J. Liberatore, President and CEO, emphasizes the firm's focus on organic growth and strategic investments, aiming to drive long-term growth and achieve double-digit operating margins. The firm continues to operate efficiently, aligning its structural costs with current revenue levels while prioritizing key strategic initiatives. Kforce remains dedicated to its vision of being “the firm most respected by those we serve.”
For more information, visit www.kforce.com, or connect with Kforce on LinkedIn, Facebook, and Twitter.
Kforce Inc. (NASDAQ: KFRC) is set to release its first-quarter financial results on May 8, 2023, after market hours, followed by a conference call at 5:00 PM ET. This call can be accessed via a dial-in number and a live webcast. Kforce specializes in technology and professional staffing services, assisting around 30,000 professionals with approximately 3,000 clients, including many Fortune 500 companies. The company emphasizes strategic partnerships and knowledge sharing to achieve successful outcomes.
This announcement follows Kforce's ongoing commitment to growth and shareholder returns, although it also highlights potential risks associated with market demand fluctuations and COVID-19 impacts on business performance.
Kforce emphasizes the importance of customer experience in the new hybrid work environment. As hybrid work is projected to rise from 42% in 2021 to 81% in 2024, Kforce's research shows that 88% to 93% of job seekers prefer remote or hybrid roles. CEO Joe Liberatore stresses the need for flexibility while maintaining strong client relationships. The firm has implemented an office-occasional model, empowering employees to choose their work environments, resulting in 96% of employees feeling supported. This approach allows associates to prioritize meaningful interactions with clients, balancing flexibility and customer service.
Kforce Inc. (NASDAQ: KFRC) will participate in Sidoti’s Virtual Small Cap Investor Conference on March 22-23, 2023. Their presentation is scheduled for March 22, from 8:30 a.m. to 9:00 a.m. Eastern. Investors can access the live webcast on Kforce’s website. Kforce specializes in technology and professional staffing services, providing opportunities for approximately 30,000 skilled professionals and serving around 3,000 clients, including many Fortune 500 companies. The company emphasizes long-term growth ambitions, aiming for double-digit operating margins while preparing to adapt to economic changes.
Kforce Inc. (Nasdaq: KFRC) reported a revenue increase of 2.3% year-over-year for Q4 2022, totaling $419.7 million, driven primarily by a 7.6% rise in technology revenue to $1.51 billion for the full year. Despite a notable 26.4% decline in FA revenue attributed to COVID-19 project run-off, the company maintained stable flex gross profit margins at 26.4%. Adjusted net income for Q4 was $18.7 million, or $0.93 per share, and a 20% increase in annual dividends to $1.44 per share was announced. Looking ahead, Q1 2023 revenue is projected between $406 million and $414 million, with EPS expected at $0.78 to $0.86.
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