Kforce Inc. (NASDAQ: KFRC) said it expects to exceed Q4 earnings guidance of $0.56 to $0.58 per share and sales guidance of $249 million to $354 million.
The Tampa-based Kforce is a provider of professional staffing services and solutions. CEO David Dunkel said, "Over the past few months, and in particular the past few weeks, there has been increasing market volatility which has dramatically impacted public company valuations. The volatility in the professional staffing sector may specifically be due to a perception that a slowing economy could significantly reduce the demand for our services.
"Quite to the contrary, trends for our Tech Flex business have steadily improved, with pre-holiday December being the strongest month of the quarter on a billing day basis. As a result, we now expect to exceed both our revenue and EPS guidance this quarter. We believe these trends are yet another solid data point confirming the secular drivers that we are experiencing.
"Digital transformation in every industry is forcing every organization to increase their technology investments as competition and the speed of change intensifies."
Dunkel concluded, "With greater than 70% of total revenues concentrated in Tech Flex, we believe we are well positioned to capitalize on the growing technology needs of our clients regardless of economic trends.”
Each year, the company’s network of over 50 offices and two national recruiting centers provide opportunities for 36,000 highly skilled professionals who work with over 4,000 clients, including 70% of the Fortune 100.”
Stock in the company gained 70 cents, or 2.4%, to $29.80
