Kforce hits $417M in revenue this quarter
May 3, 2022 - Tampa-based Kforce Inc. (Nasdaq: KFRC), a solutions firm that specializes in technology and other professional staffing services, today (Tuesday) announced it has earned $417 million in the first quarter of 2022. The revenue increased 13% year-over-year, per billing day, according to Kforce's Q1 report. Net income for the quarter, which ended March 31, was $19.2 million, or $0.93 per share. “We delivered another quarter of exceptional performance as both revenue and earnings per share meaningfully exceeded the top end of our guidance. The strength in our financial performance continues to be led by strong growth in our Technology business. It has been widely publicized that the Covid-19 pandemic accelerated many years of technology adoption and advancements," Kforce CEO and President Joseph Liberatore said. "This has resulted in a corresponding acceleration in demand for highly skilled technology talent to assist companies across every industry to rapidly digitize business models. As our business continues to become more highly concentrated in technology, it is also driving significant increases in profitability levels, which meaningfully accelerated and represented a first-quarter firm record.” Despite the crisis in Ukraine and challenges to the supply chain issues, Liberatore said the firm has become resilient as its footprint is 100% domestically focused with more than 85% of revenues concentrated in highly skilled technology talent solutions.