Kforce Reports Fourth Quarter Revenue Of $258.5 Million And EPS Of $0.16
Mr. Liberatore indicated financial highlights for the fourth quarter to include:
- Flex gross profit decreased 50 basis points to 28.8% in Q4 '10 from 29.3% in Q3 '10 and increased 10 basis points from 28.7% in Q4 '09.
- Flex gross profit for Tech and FA in Q4 '10 increased 100 basis points and 80 basis points, respectively, as compared to Q4 '09.
- Selling, general and administrative (SG&A) expenses as a percentage of revenue for fiscal 2010 was 26.8% compared to 27.6% for fiscal 2009, reflecting a decrease of 80 basis points.
- Adjusted EBITDA for fiscal 2010 was $53.2 million, an increase of 26.3% from $42.1 million in fiscal 2009.
- Earnings per share for fiscal 2010 was $0.51, an increase of 54.5% from $0.33 per share in fiscal 2009.
Mr. Liberatore stated, "Looking forward to the first quarter of 2011, we expect revenue may be in the $259 million to $265 million range and earnings per share in the range of $0.12 to $0.14 per share, which reflects an impact of approximately $0.05 per share of payroll taxes. The first quarter of 2011 has 63 versus 61 billing days in the fourth quarter of 2010."
On Tuesday, February 8, 2011, Kforce will host a conference call to discuss these results. The call will begin at 5:00 p.m. Eastern Time. The dial-in number is 877-344-3890. The replay of the call will be available from 7:00 p.m. Eastern Time Tuesday, February 8 to February 23, 2011 by dialing 800-642-1687, passcode 16895536.
This call is being webcast by Shareholder.com and can be accessed at Kforce's web site at www.kforce.com (select "Investor Relations"). The webcast replay will be available until February 22, 2011.About Kforce Kforce (Nasdaq:KFRC) is a professional staffing and solutions firm providing flexible and permanent staffing solutions in the skill areas of technology, finance & accounting, and health and life sciences and government solutions. Backed by approximately 2,100 associates and approximately 10,400 consultants on assignment, Kforce is committed to "Great People = Great Results" for our valued clients and candidates. Kforce operates with 65 offices located throughout the United States and two offices in the Philippines. For more information, please visit our Web site at http://www.kforce.com. The Kforce Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3749 About Kforce Government Solutions (KGS)
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