Kforce revenue up nearly 16%, cites strength in technology business – Staffing Industry Analysts

February 08, 2022

Fourth-quarter revenue rose 15.9% at Kforce Inc. (NASDAQ: KFRC). The increase in revenue per billing day was 17.8%. The Tampa, Florida-based IT and finance/account staffing provider also reported gross margin improved.

Perhaps most notable in 2021 was the record level of full-year organic growth we delivered in our technology business of approximately 22%, which meaningfully accelerated as the year progressed to greater than 30% growth in the fourth quarter of 2021, President and CEO Joseph Liberatore said.

Technology direct-hire revenue at Kforce was up 84.9%.

For full-year 2021, revenue was up 13.0%, while gross margin improved two basis points.

Kforce forecast first-quarter revenue of between $403 million and $411 million, a year-over-year increase of between 11.0% and 13.2%.

It also forecast first-quarter gross margin of between 28.1% and 28.3%.

Shares in Kforce were up 7.80% to $73.40 as of 11:58 a.m. Eastern time; they were 9.91% below their 52-week high, according to FT.com. The company had a market cap of $1.46 billion.

See original here:

Kforce revenue up nearly 16%, cites strength in technology business - Staffing Industry Analysts