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Tampa Bay-Lakeland
Business Observer Wednesday, Feb. 8, 2012 10 years ago

Kforce profits push stock up

The Tampa firm's stock is up nearly 11% following a solid earnings report.

TAMPA — Shares of┬áKforce Inc.'s common stock (symbol: KFRC) are up roughly 77% from a low point reached in August, when the Tampa firm issued earnings guidance below market expectations.

After the market closed yesterday, Kforce revealed its financials for 2011, including $1.1 billion in revenues (a 12.1% gain) and $27.2 million in profits, up 31.6% based on last year's total and 37.3% higher on a per-share basis.

Kforce CEO David Dunkel attributed the firm's recent growth to “a secular shift towards a flexible staffing model,” with a “disproportionate” amount of job creation being done through temporary staffing. Kforce is a professional staffing firm focused on the technology, financial, and health and life science sectors.

The Tampa firm's common stock price was up nearly 11% early Wednesday from the prior day's close, temporarily reaching a new per share price of $14.45. Today's activity represents a 77% gain from its 52-week low of $8.12, achieved in August following an earnings guidance release that disappointed investors.'¨

Kforce employs roughly 2,200 associates and 11,100 consultants on assignment. The company operates 63 offices throughout the U.S., plus an additional location in the Philippines.

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