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ROBERT HALF INTERNATIONAL INC. REPORTS 21 PERCENT INCREASE IN THIRD QUARTER EARNINGS

 ROBERT HALF INTERNATIONAL INC.
 REPORTS 21 PERCENT INCREASE IN THIRD QUARTER EARNINGS
 MENLO PARK, Calif., Oct. 27 /PRNewswire/ -- Robert Half International Inc. (NYSE: RHI) today reported revenues and earnings for the third quarter and nine months ended Sept. 30, 1992.
 For the third quarter ended Sept. 30, 1992, net income was $1,147,000, or ten cents per share, on revenues of $55,052,000. Net income for the prior year's third quarter was $948,000, or eight cents per share, on revenues of $50,880,000.
 For the nine months ended Sept. 30, 1992, net income was $3,105,000, or 26 cents per share, on revenues of $161,151,000. For the nine months ended Sept. 30, 1991, net income was $3,138,000, or 27 cents per share, on revenues of $158,633,000.
 Harold M. Messmer Jr., chairman and chief executive officer of the company, stated: "The positive revenue and earnings comparisons for the third quarter reflect continued improvement in the demand for the company's specialized accounting personnel services. During the quarter, the company also benefited from lower interest costs due primarily to significant debt repayments from its strong internal cash flow."
 The company also noted that results from its new OfficeTeam(R) division, which was started in 1991 to provide high-end general office personnel, were particularly encouraging, and the company plans to continue expanding this service.
 Robert Half International, founded in 1948, is the world's first and largest staffing services firm specializing in the placement of accounting, financial, information systems and banking personnel. The company operates more than 150 offices in the United States, Canada, the United Kingdom, Belgium and France, offering temporary and permanent financial and information systems personnel through the Accountemps(R) and Robert Half(R) divisions, respectively, and general office personnel through the OfficeTeam division.
 ROBERT HALF INTERNATIONAL INC. AND SUBSIDIARIES
 SUMMARY OF OPERATIONS
 (in thousands, except per share amounts)
 (Unaudited)
 Quarter Nine Months
 Ended Sept. 30, Ended Sept. 30,
 1992 1991 1992 1991
 Net service revenues $55,052 $50,880 $161,151 $158,633
 Direct costs of
 services 33,275 29,002 95,641 88,031
 Gross margin 21,777 21,878 65,510 70,602
 Selling, general &
 administrative
 expenses 17,556 17,384 53,081 56,374
 Amortization of
 intangibles 988 981 2,963 2,911
 Interest expense 997 1,597 3,328 5,122
 Income before income
 taxes 2,236 1,916 6,138 6,195
 Provision for income
 taxes 1,089 968 3,033 3,057
 Net income $ 1,147 $ 948 $ 3,105 $ 3,138
 Income per share $ 0.10 $ 0.08 $ 0.26 $ 0.27
 Average shares and
 share equivalents 11,949 11,799 11,926 11,659
 -0-
 /CONTACT: Harold M. Messmer Jr., chairman and chief executive officer of Robert Half International, 415-854-9700/
 (RHI) CO: Robert Half International Inc. ST: California IN: SU: ERN


ML-TM -- SJ004 -- 5173 10/27/92 08:07 EST
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Publication:PR Newswire
Date:Oct 27, 1992
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