Added RHI at 29.99
I like the earnings growth.
Revs 641.1 to 708 to 754.2M
Rev % change 32.8 to 41.3 to 45.7
Earnings 0.18 to 0.24 to 0.28
Chart is sideways movement since earnings.
Robert Half International Inc. Reports Record Revenues and Earnings for the Fourth Quarter of 2004
MENLO PARK, California, January 27, 2005 – Robert Half International Inc. (NYSE symbol: RHI) today reported record revenues and earnings for the fourth quarter ended December 31, 2004.
For the quarter ended December 31, 2004, net income was $49.7 million or $.28 per share, on revenues of $754.2 million. Net income for the prior year’s fourth quarter was $4.8 million or $.03 per share, on revenues of $517.7 million.
For the year ended December 31, 2004, net income was $140.6 million or $.79 per share, on revenues of $2.7 billion. For the year ended December 31, 2003, net income was $6.4 million or $.04 per share, on revenues of $2.0 billion.
“All of our operations performed well during the quarter,” said Harold M. Messmer, Jr., chairman and CEO of Robert Half International Inc. “Overall revenues for the company rose 46 percent year over year and 7 percent sequentially, leading to record quarterly revenues and earnings.
“We estimate that 17 to 20 percent of our consolidated revenues related directly to Sarbanes-Oxley Act compliance work,” Messmer said. “The balance of our revenues reflected organic growth of more than 20 percent on a year-over-year basis. This broad-based improvement was particularly noteworthy in our Accountemps and OfficeTeam staffing divisions.”
The company’s Protiviti subsidiary, which specializes in internal audit and business and technology risk consulting, achieved sequential revenue growth in excess of 20 percent in every quarter in 2004. “Fourth-quarter revenues for Protiviti were more than triple those of the same period in 2003,” Messmer said. “Protiviti has been expanding its services steadily in areas such as forensic and fraud investigations, litigation consulting, information technology security, financial-process improvement, business continuity and enterprise-wide risk management.”
Messmer continued: “We believe there also will be ongoing demand for Sarbanes-Oxley-related initiatives. This includes remediation efforts to improve controls, annual testing to support ongoing compliance, initial efforts by non-accelerated filers, and development of long-term compliance processes and programs.”
Founded in 1948, Robert Half International Inc. (RHI) is the world’s first and largest specialized staffing firm. RHI is a recognized leader in professional staffing and consulting services and is the parent company of Protiviti® (www.protiviti.com), a leading independent internal audit and risk consulting firm.
The company’s specialized staffing divisions include Accountemps®, Robert Half® Finance & Accounting and Robert Half® Management Resources, for temporary, full-time and project professionals, respectively, in the fields of accounting and finance; OfficeTeam®, for highly skilled temporary administrative support personnel; Robert Half® Technology, for information technology professionals; Robert Half® Legal, for legal personnel; and The Creative Group®, for advertising, marketing and web design professionals. RHI serves its clients and candidates through more than 330 offices worldwide and through online job search services at its divisional websites, all of which can be accessed at www.rhi.com.
Summary. Good growth. Tax reform is not here so accountants will flourish. Sarbanes-Oxley is very costly to defend so that should continue to climb. Will set a stop around 27 or so.
Most of the techs I like continue to be sold.
Jack |
