Robert Half International posts 3Q profit decline

Robert Half International posts sharp decline in 3Q profit, but beats Wall St. estimates

• On 4:50 pm EDT, Wednesday October 21, 2009

MENLO PARK, Calif. (AP) -- Robert Half International Inc. said Wednesday its third-quarter profit fell 86 percent, though the staffing services company still beat Wall Street estimates.

Net income was $9 million, or 6 cents per share, down from $63.8 million, or 42 cents per share, in the same quarter last year.

Analysts surveyed by Thomson Reuters expected earnings of 4 cents per share.

Revenue for the quarter ended Sept. 30 was $725.9 million, down 37 percent from $1.16 billion in the year-ago period. That was slightly improved over the 39 percent decline in the second quarter.

Harold M. Messmer Jr., chairman and CEO of the Menlo Park, Calif., company, said global business in the third quarter remained challenging, but year-over-year revenue declines in Robert Half's staffing operations moderated. On a quarter-to-quarter basis, revenue improved in September, he said.

In after-hours trading, shares jumped $1.32, or 5.3 percent, to $26.05. The stock fell $1.67, or 6.3 percent, to $24.73 in the regular session.