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KFORCE Kforce Reports Record Second Quarter 2021 Revenues of $ 403.6 Million , up 17.7 % Year - Over - Year ; Technology Revenues Grew 9.4 % Sequentially on a Billing Day Basis and 21.5 % Year - Over - Year ; EPS of $ 1.00 , an Increase of 113 % Year - Over - Year ; Kforce's Board of August 3 , 2021 TAMPA , Fla . , Aug. 03 , 2021 ( GLOBE NEWSWIRE ) Kforce Inc. ( Nasdaq : KFRC ) , a solutions firm that specializes in technology and other professional staffing services , today announced results for the second quarter of 2021 . Quarterly Financial Highlights -- • Revenue for the quarter ended June 30 , 2021 was $ 403.6 million , an increase of 9.4 % sequentially per billing day and 17.7 % year - over - year . • Technology flex revenue increased 9.1 % sequentially per billing day and 20.9 % year - over - year . • FA flex revenue increased 8.0 % sequentially per billing day and 2.7 % year - over - year , including $ 34.8 million related to the COVID - 19 business . • Direct Hire revenue of $ 12.3 million increased 28.6 % sequentially per billing day and 85.6 % year - over - year . • Operating margin for the quarter ended June 30 , 2021 of 8.2 % increased 370 basis points year - over - year . • Net income for the quarter ended June 30 , 2021 was $ 21.2 million , or $ 1.00 per share , versus $ 9.9 million , or $ 0.47 per share , in the quarter ended June 30 , 2020 . • Returned $ 18.1 million in capital to our shareholders through $ 13.4 million in share repurchases and $ 4.7 million in dividends . Net cash as of June 30 , 2021 was $ 17.3 million , up from net cash of $ 1.3 million as of March 31 , 2021 . Management Commentary David L. Dunkel , Chairman and Chief Executive Officer , said , " We believe the significant strength in our financial results leading into , during and now after the pandemic continues to reinforce the wisdom of our strategic decision to focus our business on domestic technology staffing and solutions . Our Technology business demonstrated remarkable resilience in 2020 when revenues were essentially flat , and we have built tremendous momentum since shortly after the pandemic began and into the early stages of the third quarter . The momentum is evident not only in our organic 21 % year - over - year Technology flex revenue growth in the second quarter , a record for the Firm , but also the 17 % revenue growth since the second quarter of 2019 , pre - pandemic . There is no other market we would want to be focused in other than the domestic technology staffing and solutions market as it has , in our view , the greatest prospects for strong , sustained , and profitable revenue growth . I am incredibly excited about our strategic position . We have the right team in place to capture additional market share within what we believe will be a continued strong demand environment for our services . " Joseph J. Liberatore , President , said , " We continue to see momentum in our Technology business which should lead to third quarter year - over - year growth of approximately 25 % , which would represent over 20 % organic growth over the third quarter 2019 , pre - pandemic . New assignment starts in Technology are not only reaching all - time highs , but they have been remarkably consistent and broad - based . We believe that this speaks volumes as to the primarily non - discretionary , mission critical work we are performing across our blue - chip client portfolio . We are making nice progress transitioning our FA business to higher skilled positions , such as analytics and decision - support roles , which is evident in our key performance indicators . We have made tremendous progress advancing Kforce towards a fully integrated , technology enabled hybrid operating model . Our future work environment in this new age we are entering will be what we are referring to as " Office Occasional " whereby our people can have the flexibility driven through trust and technology with a remote - first approach along with the opportunity to leverage collaborative physical office space for activities that are best achieved through in - person , active collaboration . I greatly appreciate the trust our clients , consultants and candidates have placed in Kforce . Our teams continue to inspire me daily as we work together creating something beyond special for tomorrow and into the future to position Kforce as the most desirable destination for top professionals in our industry . " David M. Kelly , Chief Financial Officer , said , " Our business continued to generate solid operating cash flows while revenues continued to expand . We continued to return capital to our shareholders through approximately $ 13 million in share repurchases and almost $ 5 million in dividends . We ended the quarter with net cash of approximately $ 17 million , which we believe gives us optimal financial flexibility to continue investing in our business and return capital to our shareholders . We are pleased to announce that our Board of Directors approved a third quarter cash dividend of $ 0.26 per share , which will be payable on September 24 , 2021 , to shareholders of record as of the close of business on September 10 , 2021. This represents the second increase to our dividend approved by our Board of Directors in 2021 and collectively is up 30 % from prior year levels , which we believe speaks to our belief in the continued strength of our business going forward and our continued commitment to returning cash to shareholders . " Third Quarter 2021 - Guidance Looking forward to the third quarter of 2021 , there will be 64 billing days , which is the same as the third quarter of 2020 and the second quarter of 2021. Current estimates for the third quarter of 2021 are :