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Kforce's Revenue Surpasses Billion-Dollar Mark In 2007

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By DAVE SIMANOFF, The Tampa Tribune

Published: February 7, 2008

TAMPA - Kforce Inc., the Tampa-based professional staffing firm, has broken through the billion dollar barrier.

The company reported slightly more than $1 billion in revenue for 2007, a record for the business and a 10.5 percent increase from the previous year's revenue figure, $938.5 million.
Company leaders attributed the increase to growing demand for professional services that Kforce provides: information technology, finance and accounting, health and life sciences, and government services.

"We believe the environment for professional staffing and government solutions remains positive, particularly in the skilled niches we serve across a broad spectrum of industries," chairman and Chief Executive Officer David L. Dunkel said in a statement.

Kforce said it earned $40.4 million, or 95 cents a share, in 2007, compared with $32.5 million, or 77 cents a share, in 2006.

A research report issued Wednesday by St. Petersburg-based Raymond James & Associates suggests a less-than-stellar outlook for Kforce.

The report rates Kforce stock at "underperform." It says the company's financial performance during the past three months didn't meet expectations, and "we believe the near and intermediate-term outlook remains nebulous."

Kforce's shares trade on the New York Stock Exchange under the symbol KFRC. The share price closed Wednesday at $8.78, up 3 cents from Tuesday's closing price.

Reporter Dave Simanoff can be reached at (813) 259-7762 or dsimanoff

@tampatrib.com.

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