Kforce Expects to Exceed Top End of Third Quarter Guidance
TAMPA, Fla., Sept. 21, 2020 (GLOBE NEWSWIRE) -- Kforce Inc. (NASDAQ: KFRC) today provided an update to its expected third quarter results ahead of its scheduled presentation at the Sidoti 2020 Virtual Investor Conference on September 24, 2020. Based on its positive trends in the third quarter, Kforce now expects revenues and earnings per share to exceed the top end of its previously announced guidance of $362 million in revenues and earnings of $0.82 per share.
David L Dunkel, Chief Executive Officer, commented, “Our results in the second quarter and expected results for the third quarter have demonstrated a remarkable level of resiliency, especially the performance of our technology business. We believe this is a testament to the strategic positioning of our Firm over the last several years to capitalize on the longer-term secular drivers of demand in technology. Our position as a 100% domestically focused organization with approximately 80% of our business focused on providing higher-end technology staffing and solutions to world class companies gives us great confidence moving forward. We will continue to prioritize allocating capital to this portion of our business with a goal of capturing a greater market share post pandemic.”
David M Kelly, Chief Financial Officer, commented, “As the third quarter has unfolded, we have continued to see positive trends in all of our lines of business. Our Tech Flex business has continued to see a gradual increase in billable consultants on assignment and we expect this business to grow sequentially in the third quarter. We look forward to providing more insights into our results on our third quarter earnings conference call.”
Access Sidoti Presentation
Kforce will present on September 24, 2020 at 3:15 p.m. Eastern. A link to the live Sidoti conference webcast and presentation can be accessed through this link or on Kforce's web site at www.kforce.com in the Investor Relations section under "Events and Presentations.”
Kforce Inc. is a domestic professional staffing services and solutions firm that specializes in the areas of Technology and Finance and Accounting. Each year, through our network of over 40 offices and centralized delivery centers, we provide opportunities for over 30,000 highly skilled professionals who work with over 3,000 clients, including a significant majority of the Fortune 500. At Kforce, our promise is to deliver great results through strategic partnership and knowledge sharing. For more information, please visit our website at http://www.kforce.com.