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KFORCE KFORCE REPORTS THIRD QUARTER 2021 REVENUES OF $ 402.7 MILLION , UP 10.2 % YEAR - OVER - YEAR TECHNOLOGY REVENUES GREW 8.5 % SEQUENTIALLY AND 29.6 % YEAR - OVER - YEAR TAMPA , FL , November 1 , 2021 Kforce Inc. ( Nasdaq : KFRC ) , a solutions firm that specializes in technology and other professional staffing services , today announced results for the third quarter of 2021 . Quarterly Financial Highlights Revenue for the quarter ended September 30 , 2021 was $ 402.7 million and increased 10.2 % year - over year . . Technology flex revenue increased 8.4 % sequentially and 28.9 % year - over - year . FA flex revenue decreased 32.0 % sequentially and 41.3 % year - over - year driven by the planned reductions in our COVID project - specific revenues . Direct Hire revenue of $ 13.6 million increased 10.6 % sequentially and 55.1 % year - over - year . Operating margin for the quarter ended September 30 , 2021 and 2020 was 7.3 % . Net income for the quarter ended September 30 , 2021 was $ 20.2 million , or $ 0.96 per share , versus $ 18.8 million , or $ 0.89 per share , in the quarter ended September 30 , 2020 . Returned $ 20.2 million in capital to our shareholders through $ 14.9 million in share repurchases and $ 5.3 million in dividends . Net cash as of September 30 , 2021 was $ 15.6 million . Management Commentary David L. Dunkel , Chairman and Chief Executive Officer , said , " We are very pleased that revenue and earnings per share both meaningfully exceeded our range of guidance for the third quarter , driven again by the strong performance of our Technology business . The nearly 30 % year - over - year growth rate in our Technology business continues to be among the best in class in our industry . The exceptional growth rate in Q3 of this year follows on market - leading performance in 2020 , where we saw only minimal revenue declines in Technology during the height of the pandemic . Strikingly , Technology revenues are up nearly 24 % from Q3 2019 levels . Our Technology growth rate is nearly three times greater than the market's rate of growth . It is clear to us that we have been successful at continuing to capture meaningful market share . With our revenues now concentrated approximately 85 % in Technology , coupled with a complementary Finance and Accounting ( " FA " ) footprint , we believe we are ideally positioned . There is no other market we would want to be focused in other than the domestic technology staffing and solutions market because 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 continue to capture additional market share within what we believe will be a robust demand environment for our services . " Joseph J. Liberatore , President , said , " The operating trends we are experiencing in our Technology business have been impressive . Encouragingly , our new assignment starts in Technology were strong in September versus the full quarter and have strengthened further in October . Given the momentum we have carried into the fourth quarter , we expect revenues in our Technology business may grow in the high 20 % ' s on a year - over - year billing day basis . Additionally , this would represent over 30 % organic growth over the fourth quarter 2019 per billing day . We believe that this speaks volumes as to the primarily non - discretionary , mission - critical digitization work we are performing across our blue - chip client portfolio . " Mr. Liberatore continued , " 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 believe we have made tremendous progress advancing Kforce towards a fully integrated , technology enabled hybrid operating