TAMPA, Fla., Dec. 26, 2007 (PRIME NEWSWIRE) -- Kforce Professional Staffing (Nasdaq:KFRC) (www.kforce.com), a professional staffing firm that provides flexible and permanent staffing solutions in the skill areas of technology, finance & accounting, health & life sciences and government solutions, has surpassed $1 billion in unaudited annual revenues for the first time in the Firm's history.
"We believe that 'Great People Equal Great Results' and this revenue record certainly bears that out," says David Dunkel, Kforce chairman and CEO. "Whether it's our core staff, the consultants we place or the clients with whom we work, we realize we are only as good as the people with whom we associate."
Reflecting on a series of recent record-breaking quarterly revenue reports, Dunkel also attributes the Firm's success to a business strategy that has combined organic growth and strategic acquisitions centered on priority skill areas. "Our vision is to be the Firm most respected by those we serve," he says. "A key aspect of that vision is building a Firm that delivers sustainable and consistent revenue and earnings performance. We're pleased to be meeting that commitment."
Kforce traces its roots back to 1966, when Albert Dunkel -- David Dunkel's father -- joined a group of former IBM employees who formed Romac & Associates, placing professionals in the accounting, banking and data processing fields. In 1980, David Dunkel purchased the Tampa-based Romac franchise and in 1994 created Romac International, with a primary focus on technology and finance & accounting.
Romac International went public in August 1995 and posted $46 million in annual revenue that year. The Firm continued to grow, being named in 1997 as one of Forbes magazine's 200 Best Small Companies. In 1998 Romac acquired Source Services, provider of technology, finance and engineering staffing services.
Recognizing the growing impact of the knowledge-based economy on staffing services, Romac changed its name in 1999 to Kforce Inc., an abbreviation of The KnowledgeForce(r). "Knowledge" reflects the dual concepts of the knowledge worker, an individual who brings a wealth of professional, personal and technical skills; and the knowledge-based employing organization. "Force" symbolizes the strength of the knowledgeable team that achieves the organization's business objectives.
More recently, the Firm's reputation as an entrepreneurial leader and exemplary community citizen has been recognized by Ernst & Young, which named David Dunkel, Howard Sutter, vice chairman and vice president of mergers & acquisitions and Rich Cocchiaro, vice chairman as 2006 Florida Entrepreneurs of the Year. The Firm has also been named one of the 2006 and 2007 "Best Places to Work" in Tampa and several other markets around the country.
"During the past 41 years, the Firm has posted a number of significant milestones, and this one certainly confirms our position as a major resource for professional staffing solutions," says Dunkel. "We congratulate our associates and our 10,000 consultants for their consistently high levels of performance -- service that has allowed us to gain and retain exceptional clients while supporting the career growth of our consultants."
About Kforce: Kforce (Nasdaq:KFRC) is a professional staffing firm providing flexible and permanent staffing solutions for commercial and governmental organizations in the skill areas of technology, finance & accounting, and health & life sciences. Backed by more than 2,200 staffing specialists, Kforce operates with 68 offices in 41 markets in North America. More information is available on the Web site, www.kforce.com.
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Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. Factors that could cause actual results to differ materially include the following: business conditions and growth in the staffing industry and general economy; competitive factors, risks due to shifts in the market demand, including, without limitation, shifts in demand for our Kforce Government Solutions, Health and Life Sciences, Finance and Accounting and Technology groups, as well as the market for search and flexible staffing assignments; changes in the service mix; ability of the Firm to complete acquisitions; and the risk factors listed from time to time in the Firm's reports filed with the Securities and Exchange Commission, as well as assumptions regarding the foregoing. In particular, there can be no assurance that the above estimates of revenues and earnings per share will be achieved. The words "should," "believe," "estimate," "expect," "intend," "anticipate," "foresee," "plan" and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. The Firm undertakes no obligation to publicly update or revise any forward-looking statements. As a result, such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Readers are cautioned not to place undue reliance on these forward-looking statements.