Robert Half International's (NYSE:RHI) profit climbed in the second quarter, topping analysts' expectations.
Earnings and Revenue The company managed to beat EPS estimates, though the company's revenues failed to top expectations. The company reported adjusted net income of 38 cents a share versus the 35 cents a share estimate and revenues of $1.03 billion versus the $1.04 billion estimate. The company's reported EPS came in above the high estimate of 14 analysts of a profit of 37 cents.
The company's net income for the quarter was $45.3 million. According to the reported number, this is up 24.4% from last year's levels. Revenue climbed 9.8% from $938 million in the same period last year.
Company Fundamental Trends Last quarter marked the third in a row of rising net income. The company's revenue has grown during at least each of the past four quarters on a year-over-year basis.
History Against Expectations The company has managed to top estimates the last two quarters. In the first quarter, it beat expectations with net income of 34 cents versus a mean estimate of net income of 28 cents per share.
Official Comment: "Demand for our specialized staffing and consulting services remained strong during the quarter, particularly in our U.S. staffing operations, which grew 17 percent versus the prior year," said Harold M. Messmer, Jr., chairman and CEO of Robert Half International. "Gross margins continued to expand with an increasing mix of permanent placement and temp-to-hire conversion revenues."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.