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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) reported second-quarter 2021 revenue of $403.6 million, marking a 17.7% year-over-year increase. Technology flex revenue surged 20.9% year-over-year, while Direct Hire revenue rose 85.6%. Operating margin improved to 8.2%, with net income of $21.2 million, or $1.00 per share, compared to $9.9 million, or $0.47 per share, in 2020. The company returned $18.1 million to shareholders through share repurchases and dividends, with a dividend of $0.26 per share payable on September 24, 2021. Third quarter revenue is projected between $385 million to $393 million.
Kforce Inc. (NASDAQ: KFRC) will announce its second-quarter results on August 3, 2021, post-market, followed by a conference call at 5:00 PM ET. The firm, specializing in professional staffing solutions in Technology and Finance, provides opportunities for over 30,000 professionals and serves approximately 3,000 clients, including many Fortune 500 companies. In the release, Kforce emphasizes its commitment to growth and shareholder returns while acknowledging potential risks such as economic conditions and market demand shifts, especially influenced by COVID-19.
Kforce Inc. (Nasdaq: KFRC) reported first-quarter 2021 results, with revenue of $363.2 million, marking a 10.1% year-over-year increase. Tech Flex revenues rose 3.1% sequentially, while FA Flex revenues showed a 5.8% sequential decrease but 26.4% annual growth. Operating cash flows reached $22.4 million, significantly up from $3.0 million in Q1 2020. The company anticipates second-quarter revenue between $387 million and $397 million and has declared a cash dividend of $0.23 per share payable on June 25, 2021.
Kforce Inc. (Nasdaq: KFRC) has entered an agreement to sell its corporate headquarters in Tampa, FL, with plans to lease it back for 18 months while searching for a new location. The sale is expected to finalize by mid-May 2021. President Joseph Liberatore noted that the pandemic has shifted work models, prompting a move toward a hybrid work environment. The current headquarters, which comprises 130,000 square feet, has been underutilized, with only 50% of its capacity used pre-pandemic. Kforce aims for a state-of-the-art office space that fosters collaboration and aligns with its tech-centric approach.
Kforce Inc. (NASDAQ: KFRC) will announce its first quarter results on May 3, 2021, followed by a conference call at 5:00 pm ET. Dial in at (877) 344-3890, passcode: 'Kforce'. A replay will be available until May 10, 2021. Management will also attend the Credit Suisse eXtreme Services Conference on May 6 and Baird’s Global Consumer, Technology & Services Conference on June 9. Kforce specializes in professional staffing solutions in Technology and Finance, serving over 30,000 professionals and more than 3,000 clients, including many Fortune 500 companies.
Kforce Inc. (Nasdaq: KFRC) announced the appointments of Derrick Brooks and Catherine H. Cloudman to its Board of Directors as part of its board refreshment strategy. Derrick Brooks, a Pro Football Hall of Famer and community leader, will also join the Corporate Governance Committee. Catherine H. Cloudman, an experienced professional with a background in finance and leadership, will similarly contribute. CEO David Dunkel expressed enthusiasm about their valuable perspectives, marking the completion of the board renewal efforts.
Kforce Inc. (NASDAQ: KFRC) will participate in two upcoming conferences: the 2021 Truist Securities Technology, Internet & Services Conference on March 9-10, and the Sidoti Virtual Investor Conference on March 25, 2021, at 8:30 a.m. ET. Investors can access the live webcast of the Sidoti conference on Kforce's investor relations website. Kforce specializes in professional staffing services in Technology and Finance, serving over 3,000 clients, including many Fortune 500 companies. The company emphasizes strategic partnership and knowledge sharing to achieve optimal results.
Kforce Inc. (Nasdaq: KFRC) reported a 5.3% increase in fourth-quarter revenue to $354.0 million compared to $336.2 million in Q4 2019. The company experienced a 26.0% rise in Finance and Accounting (FA) Flex revenue, bolstered by COVID-19 business. However, gross profit margin decreased by 80 basis points. Income from continuing operations rose 25.2% to $18.3 million, or $0.86 per share. For 2021, Kforce expects revenue between $1.368 billion and $1.430 billion, with earnings per share projected at $2.68 to $3.00. A 15% dividend increase to $0.23 per share was announced, payable on March 26, 2021.
Kforce Inc. (NASDAQ: KFRC) has updated its expected fourth quarter results, projecting revenues and earnings per share to surpass its previous guidance of $347 million and $0.78, respectively, due to stronger-than-expected consultant assignment growth. CEO David L Dunkel noted robust demand for technology staffing as businesses adapt to new challenges. The technology segment grew nearly 6% sequentially and resumed year-over-year growth of nearly 1%. The fourth quarter earnings call is scheduled for February 8, 2021, to discuss these results and future expectations.
Kforce Inc. (Nasdaq: KFRC) reported third-quarter 2020 revenues of $365.4 million, up 6.5% sequentially and 5.7% year-over-year. Tech Flex revenue fell 4.2% year-over-year, while FA Flex surged 51.6% annually, driven by $51.1 million in COVID-19-related business. Operating margin increased to 7.3%, with income from continuing operations at $18.8 million ($0.89 per share). The company also announced a fourth-quarter cash dividend of $0.20 per share. Looking ahead, Q4 revenue is expected between $337 million and $347 million.
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