Kforce (KFRC) Misses Q3 EPS by 8c
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Kforce (NASDAQ: ) reported Q3 EPS of $0.34, $0.08 worse than the analyst estimate of $0.42. Revenue for the quarter came in at $336.5 million versus the consensus estimate of $337.14 million.
David L. Dunkel, Chairman and CEO, said, “Revenues in the third quarter of $336.5 million were largely as anticipated across all business lines as we continued to make progress in diversifying our client portfolio. We are encouraged by the late-quarter and early October trends in our Tech and FA businesses that are providing momentum heading into the fourth quarter and should allow us to return to positive year-over-year growth overall and in our Tech Flex business. While we continue to believe that the T4 Next Gen contract vehicle could be an important growth vehicle for KGS, the initial group of awards were more concentrated than we anticipated with small businesses as a result of Congressional mandatory set-aside provisions requiring competition in certain instances to be restricted to service-disabled veteran-owned small businesses. As a result, KGS was not eligible to submit responses as a prime contractor on some task orders for which we believed it was well qualified.”
For earnings history and earnings-related data on Kforce (KFRC) click here.
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