UPDATE 1-Kforce Q4 results beat Street, sees strong Q1 revenue
* Q4 EPS $0.09 vs est $0.08
* Revenue $224.6 mln vs est $219.6 mln
* Sees Q1 revenue $224 mln-$232 mln vs est $222.2 mln
Feb 9 (Reuters) - Staffing company Kforce Inc (KFRC.O) posted better-than-expected quarterly results, helped in part by lower costs, and forecast first-quarter revenue above Wall Street estimates.
The company also said it was aggressively pursuing business opportunities and that permanent placement, which accounted for 3 percent of 2009 revenue, was up 13 percent sequentially.
For the fourth quarter, Kforce posted net income was $3.5 million, or 9 cents a share, compared with a net loss of $107.9 million, or $2.81 a share, a year ago.
Revenue fell 7 percent to $224.6 million.
Analysts on average were expecting earnings of 8 cents a share, before items, on revenue of $219.6 million, according to Thomson Reuters I/B/E/S.
Selling, general and administrative expenses for the quarter fell 7 percent to $60.6 million.
For the first quarter, the company forecast earnings of 4 cents to 7 cents a share on revenue of $224 million to $232 million.
Analysts were looking for earnings of 7 cents a share, before items, on revenue of $222.2 million.
Shares of the company were up at $14.37 in extended trade. They closed at $13.91 Tuesday on Nasdaq. (Reporting by A.Ananthalakshmi in Bangalore; Editing by Anne Pallivathuckal)
- Exclusive: Malaysia plane probe narrows on mid-air disintegration - source
- Radar showed missing plane may have turned back: Malaysia military
- Missing Malaysian jet may have disintegrated in mid-air: source |
- Malaysian plane presumed crashed; questions over false IDs |
- Merkel raps Putin as Russian forces tighten grip on Crimea |