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Robert Half Down A Fifth

Robert Half Down A Fifth

Robert Half International Incs fourth-quarter revenues fell 18.9% to $989.8 million from $1.22 billion in the fourth quarter of the previous year.
Chairman and CEO Harold Messmer, Jr. said "Our financial results were impacted in North America and across the globe by very difficult labour markets, which weakened as the quarter progressed," .
Revenues fell in all its divisions, Robert Half Finance & Accounting, posted the biggest drop down 35.7% to $75.6 million. Robert Half Technology fared best it was down only 8.6% to $101.4 million. Robert Half's Accountemps division, the company's largest, posted a 17.4% revenue decline to $374.2 million. OfficeTeam revenue fell 19.0%, Robert Half Management Resources revenue fell 18.5% and revenue at Protiviti fell 17.8%.
Net income declined 50.5% to $39.0 million.
The company said in a conference call it ended the year with 10,300 full-time employees with its staffing divisions down 15% from last year.
For full-year 2008, revenue fell 1.0% to $4.60 billion from 2007 revenue of $4.65 billion. Net income decreased 15.5% to $250.2 million.

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