ROBERT HALF INTERNATIONAL, INC Annual Earnings Per Share at All-Time High
MENLO PARK, Calif., Jan. 29, 2015 /PRNewswire/ -- Robert Half International Inc. (NYSE symbol: RHI) today reported revenues and earnings for the fourth quarter and year ended December 31, 2014.
For the quarter ended December 31, 2014, net income was $84.1 million, or $.62 per share, on revenues of $1.22 billion. Net income for the prior year's fourth quarter was $66.9 million, or $.49 per share, on revenues of $1.08 billion.
For the year ended December 31, 2014, net income was $305.9 million, or $2.26 per share, on revenues of $4.70 billion. For the year ended December 31, 2013, net income was $252.2 million, or $1.83 per share, on revenues of $4.25 billion.
"Robert Half finished the year strongly, with broad-based revenue expansion across our staffing and consulting businesses. Fourth-quarter 2014 revenues from staffing operations increased by 14 percent compared to the prior year (adjusted for currency), making this the fifth consecutive quarter in which growth rates have accelerated," said Harold M. Messmer, Jr., chairman and CEO of Robert Half. "Protiviti results also remained very strong with fourth-quarter revenues increasing 22 percent on a constant-currency basis over the same period in 2013."
Messmer added, "This was Robert Half's 19(th) straight quarter of double-digit net income and earnings per share percentage growth on a year-over-year basis. Unlevered return on equity remained robust at 34 percent in the fourth quarter. Earnings per share of $2.26 for 2014 is the highest ever reported by the company."
Robert Half management will conduct a conference call today at 5 p.m. EST. The prepared remarks for this call are available now in the Investor Center of the Robert Half website (www.roberthalf.com/investor-center). Simply click on the Quarterly Conference Calls link. The dial-in number to listen to today's conference call is 877-814-0475 (+1-706-643-9224 outside the United States). The password is "Robert Half."
A taped recording of this call will be available for replay beginning at approximately 8 p.m. EST today and ending at 8 p.m. EST on February 28. The dial-in number for the replay is 855-859-2056 (+1-404-537-3406 outside the United States). To access the replay, enter conference ID# 60268146. The conference call also will be archived in audio format on the company's website at www.roberthalf.com.
Founded in 1948, Robert Half is the world's first and largest specialized staffing firm and a recognized leader in professional consulting and staffing services. The company's specialized staffing divisions include Accountemps(®), Robert Half(® )Finance & Accounting and Robert Half(® )Management Resources, for temporary, full-time and senior-level project professionals, respectively, in the fields of accounting and finance; OfficeTeam(®), for highly skilled administrative support professionals; Robert Half(® )Technology, for project and full-time technology professionals; Robert Half(® )Legal, for project and full-time staffing of lawyers, paralegals and legal support personnel; and The Creative Group(®), for interactive, design, marketing, advertising and public relations professionals. Robert Half also is the parent company of Protiviti(®), a global consulting firm that helps companies solve problems in finance, technology, operations, governance, risk and internal audit.
Robert Half has staffing and consulting operations in more than 400 locations worldwide.
Certain information contained in this press release and its attachments may be deemed forward-looking statements regarding events and financial trends that may affect the company's future operating results or financial positions. These statements may be identified by words such as "estimate", "forecast", "project", "plan", "intend", "believe", "expect", "anticipate", or variations or negatives thereof, or by similar or comparable words or phrases. Forward?looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the statements.
These risks and uncertainties include, but are not limited to, the following: the global financial and economic situation; changes in levels of unemployment and other economic conditions in the United States or foreign countries where the company does business, or in particular regions or industries; reduction in the supply of candidates for temporary employment or the company's ability to attract candidates; the entry of new competitors into the marketplace or expansion by existing competitors; the ability of the company to maintain existing client relationships and attract new clients in the context of changing economic or competitive conditions; the impact of competitive pressures, including any change in the demand for the company's services, on the company's ability to maintain its margins; the possibility of the company incurring liability for its activities, including the activities of its temporary employees, or for events impacting its temporary employees on clients' premises; the possibility that adverse publicity could impact the company's ability to attract and retain clients and candidates; the success of the company in attracting, training, and retaining qualified management personnel and other staff employees; the company's ability to comply with governmental regulations affecting personnel services businesses in particular or employer/employee relationships in general; whether there will be ongoing demand for Sarbanes-Oxley or other regulatory compliance services; the company's reliance on short-term contracts for a significant percentage of its business; litigation relating to prior or current transactions or activities, including litigation that may be disclosed from time to time in the company's SEC filings; the ability of the company to manage its international operations and comply with foreign laws and regulations; the impact of fluctuations in foreign currency exchange rates; the possibility that the additional costs the company will incur as a result of healthcare reform legislation may adversely affect the company's profit margins or the demand for the company's services; the possibility that the company's computer and communications hardware and software systems could be damaged or their service interrupted; and the possibility that the company may fail to maintain adequate financial and management controls and as a result suffer errors in its financial reporting.
Additionally, with respect to Protiviti, other risks and uncertainties include the fact that future success will depend on its ability to retain employees and attract clients; there can be no assurance that there will be ongoing demand for Sarbanes-Oxley or other regulatory compliance services; failure to produce projected revenues could adversely affect financial results; and there is the possibility of involvement in litigation relating to prior or current transactions or activities.
Because long-term contracts are not a significant part of the company's business, future results cannot be reliably predicted by considering past trends or extrapolating past results. The company undertakes no obligation to update information contained in this release.
A copy of this release is available at www.roberthalf.com/investor-center.
ATTACHED: Summary of Operations
---------
Supplemental Financial Information
Non-GAAP Financial Measures
ROBERT HALF INTERNATIONAL INC. AND SUBSIDIARIES
SUMMARY OF OPERATIONS
(in thousands, except per share amounts)
Quarter Year
Ended December 31, Ended December 31,
------------------ ------------------
2014 2013 2014 2013
---- ---- ---- ----
Net service revenues (Unaudited) (Unaudited)
$1,221,450 $1,083,864 $4,695,014 $4,245,895
Direct costs of
services 720,693 640,648 2,772,098 2,522,803
------- ------- --------- ---------
Gross margin 500,757 443,216 1,922,916 1,723,092
Selling, general and
administrative
expenses 367,590 339,151 1,425,734 1,324,815
Amortization of
intangible assets ? 400 557 1,700
Interest income (154) (229) (724) (1,002)
---- ---- ---- ------
Income before income
taxes 133,321 103,894 497,349 397,579
Provision for income
taxes 49,268 37,009 191,421 145,384
------ ------ ------- -------
Net income $84,053 $66,885 $305,928 $252,195
======= ======= ======== ========
Net income available
to common
Stockholders -
diluted $84,053 $66,885 $305,928 $252,192
======= ======= ======== ========
Diluted net income
per share $.62 $.49 $2.26 $1.83
Shares:
Basic 133,372 135,219 134,358 136,153
Diluted 134,956 136,813 135,541 137,589
ROBERT HALF INTERNATIONAL INC. AND SUBSIDIARIES
SUPPLEMENTAL FINANCIAL INFORMATION
(in thousands)
Quarter Year
Ended December 31, Ended December 31,
------------------ ------------------
2014 2013 2014 2013
---- ---- ---- ----
(Unaudited) (Unaudited)
REVENUES:
Accountemps $414,176 33.9% $377,735 34.8% $1,616,609 34.5% $1,510,981 35.6%
OfficeTeam 241,768 19.8% 214,717 19.8% 917,056 19.5% 832,397 19.6%
Robert Half Technology 152,901 12.5% 137,224 12.7% 577,360 12.3% 525,251 12.4%
Robert Half Management
Resources 144,603 11.9% 126,787 11.7% 565,256 12.0% 501,211 11.8%
Robert Half Finance &
Accounting 96,718 7.9% 85,769 7.9% 394,515 8.4% 347,715 8.2%
Protiviti 171,284 14.0% 141,632 13.1% 624,218 13.3% 528,340 12.4%
------- ---- ------- ---- ------- ---- ------- ----
Total $1,221,450 100.0% $1,083,864 100.0% $4,695,014 100.0% $4,245,895 100.0%
========== ===== ========== ===== ========== ===== ========== =====
GROSS MARGIN:
Temporary and
consultant staffing $351,422 36.9% $312,465 36.5% $1,345,136 36.6% $1,220,749 36.2%
Permanent placement
staffing 96,705 100.0% 85,743 100.0% 394,402 100.0% 347,579 100.0%
Risk consulting and
internal audit
services 52,630 30.7% 45,008 31.8% 183,378 29.4% 154,764 29.3%
------ ---- ------ ---- ------- ---- ------- ----
Total $500,757 41.0% $443,216 40.9% $1,922,916 41.0% $1,723,092 40.6%
======== ==== ======== ==== ========== ==== ========== ====
OPERATING INCOME:
Temporary and
consultant staffing $94,632 9.9% $74,892 8.7% $358,533 9.8% $301,185 8.9%
Permanent placement
staffing 17,230 17.8% 12,637 14.7% 78,333 19.9% 54,390 15.6%
Risk consulting and
internal audit
services 21,305 12.4% 16,536 11.7% 60,316 9.7% 42,702 8.1%
------ ---- ------ ---- ------ --- ------ ---
Total $133,167 10.9% $104,065 9.6% $497,182 10.6% $398,277 9.4%
======== ==== ======== === ======== ==== ======== ===
SELECTED CASH FLOW INFORMATION:
Amortization of
intangible assets $ ? $400 $557 $1,700
Depreciation expense $12,954 $12,077 $49,124 $47,072
Capital expenditures $26,623 $21,608 $62,830 $53,725
Open market
repurchases of common
stock (shares) 792 526 3,336 3,305
ROBERT HALF INTERNATIONAL INC. AND SUBSIDIARIES
SUPPLEMENTAL FINANCIAL INFORMATION
(in thousands)
December 31,
------------
2014 2013
---- ----
(Unaudited)
SELECTED BALANCE SHEET INFORMATION:
Cash and cash equivalents $287,119 $275,764
Accounts receivable, less
allowances $657,676 $551,905
Total assets $1,647,267 $1,490,271
Current liabilities $623,362 $535,853
Notes payable and other
indebtedness, less current
portion $1,159 $1,300
Total stockholders' equity $979,858 $919,643
ROBERT HALF INTERNATIONAL INC. AND SUBSIDIARIES
NON-GAAP FINANCIAL MEASURES
The financial results of Robert Half International Inc. (the "Company") are prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") and the rules of the U.S. Securities and Exchange Commission ("SEC"). To help readers understand the Company's financial performance, the Company supplements its GAAP financial results with revenue growth rates derived from non-GAAP revenue amounts.
Variations in the Company's financial results include the impact of changes in foreign currency exchange rates and billing days. The Company provides "same billing days and constant currency" revenue growth calculations to remove the impact of these items. These calculations show the year-over-year revenue growth rates for the Company's lines of business on both a reported basis and also on a same-day, constant-currency basis for global, U.S. and international operations. This information is presented for each of the six most recent quarters. The Company has provided this data because management believes it better reflects the Company's actual revenue growth rates and aids in evaluating revenue trends over time. The Company expresses year-over-year revenue changes as calculated percentages using the same number of billing days and constant currency exchange rates.
The non-GAAP financial measures provided herein may not provide information that is directly comparable to that provided by other companies in the Company's industry, as other companies may calculate such financial results differently. The Company's non-GAAP financial measures are not measurements of financial performance under GAAP and should not be considered as alternatives to actual revenue growth derived from revenue amounts presented in accordance with GAAP. The Company does not consider these non-GAAP financial measures to be a substitute for, or superior to, the information provided by GAAP financial results. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures is provided on the following pages.
ROBERT HALF INTERNATIONAL INC. AND SUBSIDIARIES
NON-GAAP FINANCIAL MEASURES
REVENUE GROWTH RATES (%) (UNAUDITED):
Year-Over-Year Growth Rates Non-GAAP Year-Over-Year Growth Rates
(As Reported) (Same Billing Days and Constant
Currency)
------------
2013 2014 2013 2014
---- ---- ---- ----
Global Q3 Q4 Q1 Q2 Q3 Q4 Q3 Q4 Q1 Q2 Q3 Q4
--- --- --- --- --- --- --- --- --- --- --- ---
Accountemps -0.8 -0.4 1.7 6.5 10.1 9.6 -2.0 -0.3 1.4 6.5 9.8 11.6
OfficeTeam 2.5 3.0 4.7 9.1 14.1 12.6 0.8 2.8 4.0 9.0 14.0 14.7
RH Technology 11.8 14.1 9.3 7.8 11.0 11.4 10.8 14.9 9.5 8.5 10.9 12.7
RH Management Resources -0.2 0.7 5.6 12.4 18.9 14.1 -0.9 1.1 5.3 12.2 18.4 17.3
---- --- --- ---- ---- ---- ---- --- --- ---- ---- ----
Temporary and consultant
staffing 1.9 2.7 4.1 8.2 12.5 11.3 0.7 2.9 3.8 8.3 12.3 13.4
Permanent placement
staffing 7.9 6.6 11.1 13.8 16.0 12.8 7.9 7.8 11.6 14.2 15.7 15.7
--- --- ---- ---- ---- ---- --- --- ---- ---- ---- ----
Total staffing 2.5 3.1 4.8 8.7 12.9 11.5 1.3 3.3 4.5 8.9 12.6 13.6
Protiviti 16.3 18.0 14.8 15.5 20.7 20.9 16.9 15.6 14.1 14.4 18.3 22.5
---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ----
Total 4.1 4.8 5.9 9.6 13.9 12.7 3.3 4.9 5.7 9.6 13.4 14.9
=== === === === ==== ==== === === === === ==== ====
United States
Temporary and consultant
staffing 4.5 5.0 5.9 9.3 13.2 13.8 3.3 5.2 5.4 9.8 13.0 14.0
Permanent placement
staffing 13.8 11.0 12.6 15.8 21.8 20.8 12.5 11.3 12.1 16.3 21.6 21.0
---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ----
Total staffing 5.2 5.4 6.4 9.8 13.9 14.3 4.0 5.6 5.9 10.3 13.7 14.6
Protiviti 22.1 19.6 19.0 19.0 22.0 26.9 21.7 16.5 18.0 18.4 19.9 27.1
---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ----
Total 7.2 7.1 7.9 11.0 15.0 16.0 6.3 7.1 7.5 11.4 14.6 16.4
=== === === ==== ==== ==== === === === ==== ==== ====
International
Temporary and consultant
staffing -5.9 -4.2 -1.2 4.6 10.4 3.1 -7.2 -4.2 -1.0 3.3 9.9 11.4
Permanent placement
staffing -0.8 0.0 8.6 10.6 6.3 -0.6 1.0 2.7 10.8 10.7 5.6 6.8
---- --- --- ---- --- ---- --- --- ---- ---- --- ---
Total staffing -5.2 -3.6 0.1 5.4 9.8 2.6 -6.0 -3.3 0.6 4.4 9.3 10.8
Protiviti -3.8 12.0 0.4 2.4 14.6 -1.2 0.2 12.5 0.8 -0.2 11.0 5.4
---- ---- --- --- ---- ---- --- ---- --- ---- ---- ---
Total -5.1 -2.0 0.1 5.1 10.3 2.1 -5.3 -1.4 0.6 3.9 9.5 10.1
==== ==== === === ==== === ==== ==== === === === ====
The non-GAAP financial measures included in the table above adjust for the following items:
Foreign Currency Translation. The "As Reported" revenue growth rates are based upon reported revenues, which include the impact of changes in foreign currency exchange rates. In order to calculate "Constant Currency" revenue growth rates, as-reported amounts are retranslated using foreign exchange rates from the prior year's comparable period.
Billing Days. The "As Reported" revenue growth rates are based upon reported revenues. Management calculates a global, weighted-average number of billing days for each reporting period based upon input from all countries and all lines of business. In order to remove the fluctuations caused by comparable periods having different billing days, the company calculates "same billing day" revenue growth rates by dividing each comparative period's reported revenues by the calculated number of billing days for that period, to arrive at a "per billing day" amount. The "same billing day" growth rates are then calculated based upon the "per billing day" amounts.
The term "same billing days and constant currency" means that the impact of different billing days has been removed from constant currency calculation. A reconciliation of the non-GAAP year-over-year revenue growth rates to the "As Reported" year-over-year revenue growth rates is included herein on Pages 10-12.
ROBERT HALF INTERNATIONAL INC. AND SUBSIDIARIES
NON-GAAP FINANCIAL MEASURES
REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):
Year-Over-Year Revenue Growth - GLOBAL
--------------------------------------
Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014
------- ------- ------- ------- ------- -------
Accountemps
As Reported -0.8 -0.4 1.7 6.5 10.1 9.6
Billing Days Impact -1.1 0.2 -0.5 0.4 -0.1 0.3
Currency Impact -0.1 -0.1 0.2 -0.4 -0.2 1.7
---- ---- --- ---- ---- ---
Same Billing Days and
Constant Currency -2.0 -0.3 1.4 6.5 9.8 11.6
---- ---- --- --- --- ----
OfficeTeam
As Reported 2.5 3.0 4.7 9.1 14.1 12.6
Billing Days Impact -1.2 0.2 -0.5 0.5 -0.2 0.2
Currency Impact -0.5 -0.4 -0.2 -0.6 0.1 1.9
---- ---- ---- ---- --- ---
Same Billing Days and
Constant Currency 0.8 2.8 4.0 9.0 14.0 14.7
--- --- --- --- ---- ----
Robert Half Technology
As Reported 11.8 14.1 9.3 7.8 11.0 11.4
Billing Days Impact -1.4 0.3 -0.5 0.5 -0.2 0.3
Currency Impact 0.4 0.5 0.7 0.2 0.1 1.0
--- --- --- --- --- ---
Same Billing Days and
Constant Currency 10.8 14.9 9.5 8.5 10.9 12.7
---- ---- --- --- ---- ----
Robert Half Management Resources
As Reported -0.2 0.7 5.6 12.4 18.9 14.1
Billing Days Impact -1.1 0.2 -0.4 0.6 -0.2 0.2
Currency Impact 0.4 0.2 0.1 -0.8 -0.3 3.0
--- --- --- ---- ---- ---
Same Billing Days and
Constant Currency -0.9 1.1 5.3 12.2 18.4 17.3
---- --- --- ---- ---- ----
Temporary and consultant staffing
As Reported 1.9 2.7 4.1 8.2 12.5 11.3
Billing Days Impact -1.2 0.3 -0.5 0.5 -0.1 0.3
Currency Impact 0.0 -0.1 0.2 -0.4 -0.1 1.8
--- ---- --- ---- ---- ---
Same Billing Days and
Constant Currency 0.7 2.9 3.8 8.3 12.3 13.4
--- --- --- --- ---- ----
Permanent placement staffing
As Reported 7.9 6.6 11.1 13.8 16.0 12.8
Billing Days Impact -1.2 0.2 -0.5 0.6 -0.1 0.2
Currency Impact 1.2 1.0 1.0 -0.2 -0.2 2.7
--- --- --- ---- ---- ---
Same Billing Days and
Constant Currency 7.9 7.8 11.6 14.2 15.7 15.7
--- --- ---- ---- ---- ----
Total staffing
As Reported 2.5 3.1 4.8 8.7 12.9 11.5
Billing Days Impact -1.3 0.2 -0.5 0.6 -0.2 0.2
Currency Impact 0.1 0.0 0.2 -0.4 -0.1 1.9
--- --- --- ---- ---- ---
Same Billing Days and
Constant Currency 1.3 3.3 4.5 8.9 12.6 13.6
--- --- --- --- ---- ----
Protiviti
As Reported 16.3 18.0 14.8 15.5 20.7 20.9
Billing Days Impact -0.4 -3.2 -1.0 -0.7 -2.1 0.2
Currency Impact 1.0 0.8 0.3 -0.4 -0.3 1.4
--- --- --- ---- ---- ---
Same Billing Days and
Constant Currency 16.9 15.6 14.1 14.4 18.3 22.5
---- ---- ---- ---- ---- ----
Total
As Reported 4.1 4.8 5.9 9.6 13.9 12.7
Billing Days Impact -1.0 0.0 -0.4 0.4 -0.4 0.3
Currency Impact 0.2 0.1 0.2 -0.4 -0.1 1.9
--- --- --- ---- ---- ---
Same Billing Days and
Constant Currency 3.3 4.9 5.7 9.6 13.4 14.9
--- --- --- --- ---- ----
ROBERT HALF INTERNATIONAL INC. AND SUBSIDIARIES
NON-GAAP FINANCIAL MEASURES
REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):
Year-Over-Year Revenue Growth - UNITED STATES
Q3 2013 Q4 Q1 Q2 Q3 Q4
2013 2014 2014 2014 2014
------- ----- ----- ----- ----- -----
Temporary and consultant staffing
As Reported 4.5 5.0 5.9 9.3 13.2 13.8
Billing Days
Impact -1.2 0.2 -0.5 0.5 -0.2 0.2
Currency Impact ? ? ? ? ? ?
--- --- --- --- --- ---
Same Billing Days
and Constant
Currency 3.3 5.2 5.4 9.8 13.0 14.0
--- --- --- --- ---- ----
Permanent placement staffing
As Reported 13.8 11.0 12.6 15.8 21.8 20.8
Billing Days
Impact -1.3 0.3 -0.5 0.5 -0.2 0.2
Currency Impact ? ? ? ? ? ?
--- --- --- --- --- ---
Same Billing Days
and Constant
Currency 12.5 11.3 12.1 16.3 21.6 21.0
---- ---- ---- ---- ---- ----
Total staffing
As Reported 5.2 5.4 6.4 9.8 13.9 14.3
Billing Days
Impact -1.2 0.2 -0.5 0.5 -0.2 0.3
Currency Impact ? ? ? ? ? ?
--- --- --- --- --- ---
Same Billing Days
and Constant
Currency 4.0 5.6 5.9 10.3 13.7 14.6
--- --- --- ---- ---- ----
Protiviti
As Reported 22.1 19.6 19.0 19.0 22.0 26.9
Billing Days
Impact -0.4 -3.1 -1.0 -0.6 -2.1 0.2
Currency Impact - - ? ? ? ?
--- --- --- --- --- ---
Same Billing Days
and Constant
Currency 21.7 16.5 18.0 18.4 19.9 27.1
---- ---- ---- ---- ---- ----
Total
As Reported 7.2 7.1 7.9 11.0 15.0 16.0
Billing Days
Impact -0.9 0.0 -0.4 0.4 -0.4 0.4
Currency Impact - - ? ? ? ?
--- --- --- --- --- ---
Same Billing Days
and Constant
Currency 6.3 7.1 7.5 11.4 14.6 16.4
--- --- --- ---- ---- ----
ROBERT HALF INTERNATIONAL INC. AND SUBSIDIARIES
NON-GAAP FINANCIAL MEASURES
REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):
Year-Over-Year Revenue Growth - INTERNATIONAL
---------------------------------------------
Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014
------- ------- ------- ------- ------- -------
Temporary and consultant staffing
As Reported -5.9 -4.2 -1.2 4.6 10.4 3.1
Billing Days
Impact -1.2 0.2 -0.4 0.4 -0.2 0.2
Currency Impact -0.1 -0.2 0.6 -1.7 -0.3 8.1
---- ---- --- ---- ---- ---
Same Billing Days
and Constant
Currency -7.2 -4.2 -1.0 3.3 9.9 11.4
---- ---- ---- --- --- ----
Permanent placement staffing
As Reported -0.8 0.0 8.6 10.6 6.3 -0.6
Billing Days
Impact -1.2 0.3 -0.5 0.5 -0.2 0.2
Currency Impact 3.0 2.4 2.7 -0.4 -0.5 7.2
--- --- --- ---- ---- ---
Same Billing Days
and Constant
Currency 1.0 2.7 10.8 10.7 5.6 6.8
--- --- ---- ---- --- ---
Total staffing
As Reported -5.2 -3.6 0.1 5.4 9.8 2.6
Billing Days
Impact -1.1 0.1 -0.4 0.5 -0.2 0.3
Currency Impact 0.3 0.2 0.9 -1.5 -0.3 7.9
--- --- --- ---- ---- ---
Same Billing Days
and Constant
Currency -6.0 -3.3 0.6 4.4 9.3 10.8
---- ---- --- --- --- ----
Protiviti
As Reported -3.8 12.0 0.4 2.4 14.6 -1.2
Billing Days
Impact -0.3 -3.0 -0.8 -0.6 -2.0 0.1
Currency Impact 4.3 3.5 1.2 -2.0 -1.6 6.5
--- --- --- ---- ---- ---
Same Billing Days
and Constant
Currency 0.2 12.5 0.8 -0.2 11.0 5.4
--- ---- --- ---- ---- ---
Total
As Reported -5.1 -2.0 0.1 5.1 10.3 2.1
Billing Days
Impact -0.9 0.1 -0.5 0.4 -0.3 0.2
Currency Impact 0.7 0.5 1.0 -1.6 -0.5 7.8
--- --- --- ---- ---- ---
Same Billing Days
and Constant
Currency -5.3 -1.4 0.6 3.9 9.5 10.1
---- ---- --- --- --- ----
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SOURCE Robert Half
