Robert Half International Inc. Reports Revenues and Earnings for the First Quarter of 2007

    MENLO PARK, Calif., April 19 /CNW/ -- Robert Half International Inc.
(NYSE:   RHI) today reported revenues and earnings for the first quarter ended
March 31, 2007.
    For the quarter ended March 31, 2007, net income was $70.7 million or
$.42 per share, on revenues of $1.1 billion.  Net income for the prior year's
first quarter was $65.5 million or $.38 per share, on revenues of $943.9
    Harold M. Messmer, Jr., chairman and chief executive officer of Robert
Half International Inc., said: "Revenues and income per share increased 16
percent and 11 percent, respectively, from the first quarter of 2006.  In our
staffing divisions, we saw a continuation of the broad-based revenue growth
that we have seen for several quarters.
    "The financial divisions continued to perform well, particularly our
permanent placement business, Robert Half Finance & Accounting," he said.
"International staffing operations also had a strong quarter."
    Messmer added, "Protiviti, our internal audit and risk consulting
subsidiary, expanded its client base and service offerings during the quarter.
Revenues for Protiviti grew 7 percent on a year-over-year basis, led by its
international operations."  Protiviti, which celebrates its fifth anniversary
in May, is in more than 50 major cities in North America, Europe, Latin
America and the Asia/Pacific region.
    Robert Half International management will conduct a conference call today
at 5 p.m. EDT following the release.  The dial-in number is 1-800-862-9098
(+1-785-424-1051 outside the United States) and the passcode is "Robert Half
International."  A taped recording of this call will be available for replay
beginning at approximately 8 p.m. EDT today and ending at 8 p.m. EDT on April
26.  The dial-in number for the replay is 1-800-283-8520 (+1-402-220-0870
outside the United States).  The conference call also will be archived in
audio format on the company's website at

    Founded in 1948, Robert Half International Inc. is the world's first and
largest specialized staffing firm.  RHI is a recognized leader in professional
consulting and staffing services and is the parent company of Protiviti(R)
(, a leading independent internal audit and risk consulting
firm.  The company's specialized staffing divisions include Accountemps(R),
Robert Half(R) Finance & Accounting and Robert Half(R) Management Resources,
for temporary, full-time and project professionals, respectively, in the
fields of accounting and finance; OfficeTeam(R), for highly skilled temporary
administrative support personnel; Robert Half(R) Technology, for information
technology professionals; Robert Half(R) Legal, for legal personnel; and The
Creative Group(R), for advertising, marketing and web design professionals.
    The company has staffing and consulting operations in more than 400
locations worldwide.

    Certain information contained in this press release 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
    These risks and uncertainties include, but are not limited to, the
following:  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;
whether governments will impose additional regulations or licensing
requirements on personnel services businesses in particular or on
employer/employee relationships in general; whether there will be ongoing
demand for Sarbanes-Oxley or other regulatory compliance services; and
litigation relating to prior or current transactions or activities, including
litigation that may be disclosed from time to time in the company's SEC
    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

                            SUMMARY OF OPERATIONS
                   (in thousands, except per share amounts)

                                                       Ended March 31,
                                                      2007           2006

    Net service revenues                          $1,097,425       $943,924
    Direct costs of services                         636,696        550,720

    Gross margin                                     460,729        393,204

    Selling, general and administrative expenses     348,379        287,482
    Amortization of intangible assets                    274            146
    Interest income                                  (4,017)        (3,497)

    Income before income taxes                       116,093        109,073
    Provision for income taxes                        45,386         43,570

    Net income                                       $70,707        $65,503

    Diluted net income per share                        $.42           $.38

      Basic                                          163,841        167,390
      Diluted                                        168,883        173,974

                                (in thousands)

                                                       Ended March 31,
                                                      2007           2006
       Accountemps                                  $416,293       $355,577
       OfficeTeam                                    207,618        186,196
       Robert Half Technology                         98,852         84,630
       Robert Half Management Resources              145,594        120,366
       Robert Half Finance & Accounting               98,686         75,484
       Protiviti                                     130,382        121,671
       Total                                      $1,097,425       $943,924

       Temporary and consultant staffing            $320,477       $274,574
       Permanent placement staffing                   98,686         75,484
       Risk consulting and internal audit services    41,566         43,146
       Total                                        $460,729       $393,204

       Temporary and consultant staffing             $87,797        $76,833
       Permanent placement staffing                   20,112         16,900
       Risk consulting and internal audit services     4,441         11,989
       Total                                        $112,350       $105,722

       Amortization of intangible assets                $274           $146
       Depreciation expense                          $15,919        $14,961
       Capital expenditures                          $24,099        $24,312
       Open market repurchases of
        common stock (shares)                          2,032          1,225

                                (in thousands)

                                                           March 31,
                                                      2007           2006
       Cash and cash equivalents                    $449,902       $472,652
       Accounts receivable, less allowances         $561,112       $480,333
       Total assets                               $1,489,365     $1,375,877
       Current liabilities                          $430,024       $363,041
       Notes payable and other indebtedness,
        less current portion                          $3,825         $4,168
       Total stockholders' equity                 $1,044,603       $999,888


For further information:

For further information: M. Keith Waddell, Vice Chairman, President and 
Chief Financial Officer, +1-650-234-6000 Web Site:

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