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10-Q Filing

KFORCE INC CIK: 930420 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0000930420-20-000100
Period End Date 20200331
Filing Date 20200507
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance kfrc-20200331_htm.xml
Filing Contents
Balance Sheet 74 line items
Line Item Tag Value Unit Period
Trade receivables, allowances AllowanceForDoubtfulAccountsReceivableCurrent $2.08M USD Point-in-time
Trade receivables, allowances AllowanceForDoubtfulAccountsReceivableCurrent $4.38M USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $19.83M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $31.77M USD Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 15.00M shares Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 15.00M shares Point-in-time
Preferred stock, shares issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Accounts Receivable, after Allowance for Credit Loss, Current AccountsReceivableNetCurrent $235.59M USD Point-in-time
Preferred stock, shares issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Accounts Receivable, after Allowance for Credit Loss, Current AccountsReceivableNetCurrent $217.93M USD Point-in-time
Preferred stock, shares outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $7.40M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $7.47M USD Point-in-time
Preferred stock, shares outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Total current assets AssetsCurrent $245.24M USD Point-in-time
Total current assets AssetsCurrent $274.76M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 250.00M shares Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 250.00M shares Point-in-time
Fixed assets, net PropertyPlantAndEquipmentNet $29.46M USD Point-in-time
Fixed assets, net PropertyPlantAndEquipmentNet $29.98M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $72.84M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 72.20M shares Point-in-time
Other assets, net OtherAssetsNoncurrent $67.68M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 72.20M shares Point-in-time
Deferred tax assets, net DeferredIncomeTaxAssetsNet $8.04M USD Point-in-time
Deferred tax assets, net DeferredIncomeTaxAssetsNet $8.55M USD Point-in-time
Treasury stock, shares (in shares) TreasuryStockShares 49.28M shares Point-in-time
Treasury stock, shares (in shares) TreasuryStockShares 49.96M shares Point-in-time
Goodwill Goodwill $25.04M USD Point-in-time
Goodwill Goodwill $25.04M USD Point-in-time
Total assets Assets $381.12M USD Point-in-time
Total assets Assets $405.49M USD Point-in-time
Accounts payable and other accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $33.23M USD Point-in-time
Accounts payable and other accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $37.12M USD Point-in-time
Accrued payroll costs EmployeeRelatedLiabilitiesCurrent $45.99M USD Point-in-time
Accrued payroll costs EmployeeRelatedLiabilitiesCurrent $44.00M USD Point-in-time
Current portion of operating lease liabilities OperatingLeaseLiabilityCurrent $5.68M USD Point-in-time
Current portion of operating lease liabilities OperatingLeaseLiabilityCurrent $5.20M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $878.00K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $4.03M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $954.00K USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $1.17M USD Point-in-time
Total current liabilities LiabilitiesCurrent $93.29M USD Point-in-time
Total current liabilities LiabilitiesCurrent $84.96M USD Point-in-time
Long-term debt credit facility LongTermLineOfCredit $100.00M USD Point-in-time
Long-term debt credit facility LongTermLineOfCredit $65.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $63.90M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $58.80M USD Point-in-time
Total liabilities Liabilities $252.09M USD Point-in-time
Total liabilities Liabilities $213.86M USD Point-in-time
Commitments and contingencies (Note M) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note M) CommitmentsAndContingencies - USD Point-in-time
Preferred stock, $0.01 par; 15,000 shares authorized, none issued and outstanding PreferredStockValue - USD Point-in-time
Preferred stock, $0.01 par; 15,000 shares authorized, none issued and outstanding PreferredStockValue - USD Point-in-time
Common stock, $0.01 par; 250,000 shares authorized, 72,198 and 72,202 issued, respectively CommonStockValue $722.00K USD Point-in-time
Common stock, $0.01 par; 250,000 shares authorized, 72,198 and 72,202 issued, respectively CommonStockValue $722.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $462.75M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $459.55M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.53M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.65M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $354.93M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $350.55M USD Point-in-time
Treasury stock, at cost; 49,958 and 49,277 shares, respectively TreasuryStockValue $642.02M USD Point-in-time
Treasury stock, at cost; 49,958 and 49,277 shares, respectively TreasuryStockValue $662.35M USD Point-in-time
Total stockholders equity StockholdersEquity $153.40M USD Point-in-time
Total stockholders equity StockholdersEquity $178.57M USD Point-in-time
Total stockholders equity StockholdersEquity $168.33M USD Point-in-time
Total stockholders equity StockholdersEquity $167.26M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $381.12M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $405.49M USD Point-in-time
Income Statement 44 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $326.74M USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $335.21M USD 1 Quarter
Direct costs CostOfRevenue $240.68M USD 1 Quarter
Direct costs CostOfRevenue $233.56M USD 1 Quarter
Gross profit GrossProfit $93.18M USD 1 Quarter
Gross profit GrossProfit $94.52M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $79.22M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $79.81M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $1.39M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $1.65M USD 1 Quarter
Income from operations OperatingIncomeLoss $13.91M USD 1 Quarter
Income from operations OperatingIncomeLoss $11.71M USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-923.00K USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-1.38M USD 1 Quarter
Income from continuing operations, before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $12.53M USD 1 Quarter
Income from continuing operations, before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $10.79M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $2.82M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $3.43M USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperations $7.97M USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperations $9.11M USD 1 Quarter
Income from discontinued operations, net of tax IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity $18.88M USD 1 Quarter
Income from discontinued operations, net of tax IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity - USD 1 Quarter
Net income NetIncomeLoss $26.86M USD 1 Quarter
Net income NetIncomeLoss $9.11M USD 1 Quarter
Change in fair value of interest rate swaps, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $-280.00K USD 1 Quarter
Change in fair value of interest rate swaps, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $-1.12M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $7.99M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $26.57M USD 1 Quarter
Continuing operations (in dollars per share) IncomeLossFromContinuingOperationsPerBasicShare $0.33 USD 1 Quarter
Continuing operations (in dollars per share) IncomeLossFromContinuingOperationsPerBasicShare $0.42 USD 1 Quarter
Discontinued operations (in dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare - USD 1 Quarter
Discontinued operations (in dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $0.77 USD 1 Quarter
Earnings per share - basic (in dollars per share) EarningsPerShareBasic $0.42 USD 1 Quarter
Earnings per share - basic (in dollars per share) EarningsPerShareBasic $1.10 USD 1 Quarter
Continuing operations (in dollars per share) IncomeLossFromContinuingOperationsPerDilutedShare $0.42 USD 1 Quarter
Continuing operations (in dollars per share) IncomeLossFromContinuingOperationsPerDilutedShare $0.32 USD 1 Quarter
Discontinued operations (in dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare - USD 1 Quarter
Discontinued operations (in dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $0.75 USD 1 Quarter
Earnings per share diluted (in dollars per share) EarningsPerShareDiluted $1.07 USD 1 Quarter
Earnings per share diluted (in dollars per share) EarningsPerShareDiluted $0.42 USD 1 Quarter
Weighted average shares outstanding basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 21.55M shares 1 Quarter
Weighted average shares outstanding basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 24.52M shares 1 Quarter
Weighted average shares outstanding diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 21.86M shares 1 Quarter
Weighted average shares outstanding diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 25.02M shares 1 Quarter
Cash Flow Statement 74 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $26.86M USD 1 Quarter
Net income NetIncomeLoss $9.11M USD 1 Quarter
Deferred income tax provision, net DeferredIncomeTaxesAndTaxCredits $-18.31M USD 1 Quarter
Deferred income tax provision, net DeferredIncomeTaxesAndTaxCredits $-126.00K USD 1 Quarter
Provision for credit losses ProvisionForDoubtfulAccounts $349.00K USD 1 Quarter
Provision for credit losses ProvisionForDoubtfulAccounts $2.23M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $1.97M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $1.39M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $2.90M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $2.62M USD 1 Quarter
Defined benefit pension plan expense PensionAndOtherPostretirementBenefitExpense $216.00K USD 1 Quarter
Defined benefit pension plan expense PensionAndOtherPostretirementBenefitExpense $211.00K USD 1 Quarter
Loss on deferred compensation plan investments, net GainLossOnInvestments $-39.00K USD 1 Quarter
Loss on deferred compensation plan investments, net GainLossOnInvestments $-89.00K USD 1 Quarter
Loss on disposal or impairment of assets GainLossOnSalesOfAssetsAndAssetImpairmentCharges $-801.00K USD 1 Quarter
Loss on disposal or impairment of assets GainLossOnSalesOfAssetsAndAssetImpairmentCharges $-15.00K USD 1 Quarter
Noncash lease expense NoncashLeaseExpense $1.66M USD 1 Quarter
Noncash lease expense NoncashLeaseExpense $1.52M USD 1 Quarter
Loss on equity method investment IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Loss on equity method investment IncomeLossFromEquityMethodInvestments $-595.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $-973.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $-87.00K USD 1 Quarter
Trade receivables, net IncreaseDecreaseInAccountsReceivable $7.38M USD 1 Quarter
Trade receivables, net IncreaseDecreaseInAccountsReceivable $20.18M USD 1 Quarter
Other assets, net IncreaseDecreaseInOtherOperatingAssets $393.00K USD 1 Quarter
Other assets, net IncreaseDecreaseInOtherOperatingAssets $452.00K USD 1 Quarter
Accrued payroll costs IncreaseDecreaseInEmployeeRelatedLiabilities $380.00K USD 1 Quarter
Accrued payroll costs IncreaseDecreaseInEmployeeRelatedLiabilities $2.13M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $3.54M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $1.96M USD 1 Quarter
Cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $3.00M USD 1 Quarter
Cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $11.79M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $1.50M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $1.97M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities - USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $1.00M USD 1 Quarter
Cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-2.50M USD 1 Quarter
Cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-1.97M USD 1 Quarter
Proceeds from credit facility ProceedsFromLinesOfCredit $35.00M USD 1 Quarter
Proceeds from credit facility ProceedsFromLinesOfCredit $78.30M USD 1 Quarter
Payments on credit facility RepaymentsOfLinesOfCredit - USD 1 Quarter
Payments on credit facility RepaymentsOfLinesOfCredit $67.60M USD 1 Quarter
Payments on other financing arrangements RepaymentsOfDebtAndCapitalLeaseObligations $540.00K USD 1 Quarter
Payments on other financing arrangements RepaymentsOfDebtAndCapitalLeaseObligations $328.00K USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $14.88M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $19.47M USD 1 Quarter
Cash dividend PaymentsOfDividendsCommonStock $4.29M USD 1 Quarter
Cash dividend PaymentsOfDividendsCommonStock $4.41M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities - USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-25.00K USD 1 Quarter
Cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-9.15M USD 1 Quarter
Cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $10.91M USD 1 Quarter
Change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $11.94M USD 1 Quarter
Change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $147.00K USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $259.00K USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $19.83M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $31.77M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $112.00K USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $259.00K USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $19.83M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $31.77M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $112.00K USD Point-in-time
Income taxes IncomeTaxesPaid $184.00K USD 1 Quarter
Income taxes IncomeTaxesPaid $399.00K USD 1 Quarter
Operating lease liabilities OperatingLeasePayments $1.99M USD 1 Quarter
Operating lease liabilities OperatingLeasePayments $1.84M USD 1 Quarter
Interest, net InterestPaidNet $627.00K USD 1 Quarter
Interest, net InterestPaidNet $541.00K USD 1 Quarter
ROU assets obtained from new operating leases RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $817.00K USD 1 Quarter
ROU assets obtained from new operating leases RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $924.00K USD 1 Quarter
Unsettled repurchases of common stock StockRepurchasesIncurredButNotYetPaid $910.00K USD 1 Quarter
Unsettled repurchases of common stock StockRepurchasesIncurredButNotYetPaid $369.00K USD 1 Quarter
Employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $140.00K USD 1 Quarter
Employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $142.00K USD 1 Quarter
Stockholders Equity 28 line items
Line Item Tag Value Unit Period
Cumulative effect on retained earnings, tax CumulativeEffectOnRetainedEarningsTax1 $75.00K USD 1 Quarter
Dividend (in dollars per share) CommonStockDividendsPerShareDeclared $0.20 USD 1 Quarter
Dividend (in dollars per share) CommonStockDividendsPerShareDeclared $0.18 USD 1 Quarter
Interest rate swap tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax $-95.00K USD 1 Quarter
Interest rate swap tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax $-384.00K USD 1 Quarter
Balance at beginning of period StockholdersEquity $153.40M USD Point-in-time
Balance at beginning of period StockholdersEquity $178.57M USD Point-in-time
Balance at beginning of period StockholdersEquity $168.33M USD Point-in-time
Balance at beginning of period StockholdersEquity $167.26M USD Point-in-time
Net income NetIncomeLoss $26.86M USD 1 Quarter
Net income NetIncomeLoss $9.11M USD 1 Quarter
Reclassification of stranded tax effects TaxCutsAndJobsActOf2017ReclassificationFromAociToRetainedEarningsTaxEffect - USD 1 Quarter
Issuance for stock-based compensation and dividends, net of forfeitures StockIssuedDuringPeriodValueShareBasedCompensation - USD 1 Quarter
Issuance for stock-based compensation and dividends, net of forfeitures StockIssuedDuringPeriodValueShareBasedCompensation - USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.62M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.90M USD 1 Quarter
Employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $140.00K USD 1 Quarter
Employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $142.00K USD 1 Quarter
Dividends DividendsCommonStock $4.41M USD 1 Quarter
Dividends DividendsCommonStock $4.29M USD 1 Quarter
Change in fair value of interest rate swaps, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $-280.00K USD 1 Quarter
Change in fair value of interest rate swaps, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $-1.12M USD 1 Quarter
Repurchases of common stock TreasuryStockValueAcquiredCostMethod $14.69M USD 1 Quarter
Repurchases of common stock TreasuryStockValueAcquiredCostMethod $20.38M USD 1 Quarter
Balance at end of period StockholdersEquity $153.40M USD Point-in-time
Balance at end of period StockholdersEquity $178.57M USD Point-in-time
Balance at end of period StockholdersEquity $168.33M USD Point-in-time
Balance at end of period StockholdersEquity $167.26M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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