David L. DunkelThank you, Michael. You can find additional information about Kforce in our 10-Q, 10-K and 8-K filings with the SEC. We provide substantial disclosure in our release, and our hope is that this will improve the dissemination of information about our performance and the quality of this call. We are pleased with our Q2 results as Kforce reported revenue for the quarter of $274.1 million, a year-over-year increase of 10.5%. Earnings per share of $0.24 after adjusting for the noncash goodwill impairment charge came in a bit stronger than expected. The strong bottom line results were driven by improving bill/pay spreads across all of our staffing businesses, strong performance in search and continued SG&A discipline. The environment for professional staffing and in particular, technology staffing, continues to be strong. Certain industry segments such as health care remain very strong, but these gains are being partially offset by declines in some of our financial services clients, which comprise about 16% of our business. The war for talent across our staffing businesses continues to be heated. The unemployment rate among college degree workers is currently 4.1%, roughly half that of the overall U.S. rate of unemployment and is substantially lower in several of the skill sets Kforce specializes in, particularly technology. Bill rates continue to increase, and supply for candidates is still tight. We are aggressively managing our client portfolio to optimize both volume and rate, which was exhibited in the margin expansion we experienced in Q2. Our revenue footprint, which now is comprised of approximately 70% technology staffing, inclusive of those technology portions of our government and HIM businesses, remain in the areas of greatest demand in today's economy. We continue to benefit from our clients' desire for a flexible workforce during this uncertain economy, combined with significant uncertainty in regulatory tax and health care reform.
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.
Our Tech and HIM flexible business both grew sequentially, while FA declined slightly. Permanent placement revenues, driven by strength in both Tech and FA, increased sequentially and year-over-year. Our government practice had a sequential decline in revenues due to unanticipated delays, headcount ramp at several large clients and was flat year-over-year. TRead the rest of this transcript for free on seekingalpha.com