Kforce Posts Q4 Dip in Earnings

February 10, 2010 – Kforce Inc./(NASDAQ:KFRC), a provider of professional staffing services and solutions, has announced fourth quarter of 2009 revenue of $224.6 million, a decrease of 6.8 percent from $240.9 million in revenues a year ago. The company earned $3.5 million, or nine cents per diluted share, in the period ended Dec. 31, compared to a loss of $107.9 million, or $2.81 per share, in the same quarter in 2008. Analysts polled by Thomson Reuters anticipated Kforce to earn nine cents per share on income of $224.6 million. For the full year, Kforce earned $12.9 million, or 33 cents per share, compared with a loss of $84.1 million, or $2.13 per share, last year. Full-year revenue dropped to $910.1 million from $997 million in 2008. “We are pleased with our fourth quarter results, which include a 3.2 percent sequential increase in total Firm revenues on a billing day basis and are particularly pleased with the 6.8 percent sequential increase in Tech Flex revenue on a billing day basis,” said David L. Dunkel, chairman and CEO. “Additionally, permanent placement was up 13 percent sequentially which, we believe, reflects clients rebuilding core staff after significant reductions earlier in the year.”