Robert Half's 4Q profit jumps 72 pct

(AP)  MENLO PARK, Calif. — Staffing firm Robert Half International Inc. said Thursday that its fourth-quarter profit jumped 72 percent as rising demand for its placement services fueled a sharp increase in revenue.

The company reported net income of $42.6 million, or 30 cents a share, for the three months that ended Dec. 31. That compares with net income of $24.8 million, or 17 cents a share, in 2010's fourth quarter.

Revenue grew 14 percent to $973.5 million from $851.6 million.

The results fell short of analysts' consensus forecast, which called for earnings of 31 cents a share on $986.2 million in revenue, according to FactSet.

Management said the company is seeing strong demand for skilled talent, particularly in the technology and accounting sectors.

Revenue in Robert Half's largest division, Accountemps, rose 14 percent to $363.8 million, but all its segments posted higher revenue for the quarter.

The company's selling, general and administrative expenses rose 11 percent to 315.5 million.

For the full year, Robert Half reported net income of $149.9 million, or $1.04 a share, compared with net income of $66.1 million, or 44 cents a share, in 2010. Full-year revenue climbed to $3.78 billion from $3.18 billion.

Shares of Robert Half International ended regular trading down 50 cents at $29.76. After hours, following the earnings report's release, the shares fell $1.16, or 3.9 percent, to $28.60.

Scientific American

• Robert Half's 4Q profit jumps 72 pct