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Kforce Management Discusses Q2 2012 Results - Earnings Call Transcript

We remain optimistic about our prospects and are committed in our belief that temporary staffing penetration, which has improved from 1.34% at the beginning of this economic cycle and is currently 1.9% of the workforce, will achieve historic highs in the U.S. during this economic expansion. In addition, approximately 17% of net job creation in this recovery has been through the temp sector, which bodes very well for us as it indicates a secular shift in how companies acquire and deploy human capital.

As we look ahead, we believe there is significant opportunity for continued growth in our Tech and F&A businesses, as well as the long-term growth for our Health Information Management business, which is well positioned for continued success due to the mandated implementation of ICD-10 and electronic medical records. Overall, despite continued mix data on the near-term economic backdrop and our decline in expectations for our government unit, we anticipate continued billing day growth though not at a rate previously anticipated. We remain optimistic about the firm's prospects in what we believe continues to be a secular shift towards a greater use of flexible staffing in an environment of high demand for skilled professionals. Looking ahead, we are pleased with the firm's positioning and our continued opportunity to capture market share.

I will turn the call over to Bill Sanders, Kforce President, who will provide his comments. Joe Liberatore, Kforce CFO, will then provide additional insights on operating trends and expectations. Bill?

William L. Sanders

Thank you, Dave, and thanks to all of you for your interest in Kforce. We have built a foundation of great people, processes and tools that allow us to complete -- compete effectively in this market for our staffing and solutions business units. Our highly tenured field sales and delivery operations are supported by a highly flexible management recruiting center and a strategic accounts model that combined, allow us to effectively service a broad spectrum of clients across geographies, industry and size.

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