RHI FY 2013 Earnings Report — Robert Half International Inc. Revenue & Financial Results | Market Cap Arena

Robert Half International Inc.RHI

FY 2013 Earnings

Reported February 14, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$4.2B	—	$4.1B	—	3.3%
Op. Income	$397M	—	$343M	—	15.6%
Gross Margin	40.6%	—	40.1%	—	0.5pp
Net Margin	5.9%	—	5.1%	—	0.8pp
EPS (Diluted)	$1.83	—	$1.50	—	22.0%
Free Cash Flow	-$4M	—	$239M	—	-101.8%

Revenue Flow

Item	Amount
REVENUE	$4.2B
Cost of Revenue	$2.5B
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.3B
Other Expenses	$0
Operating Expenses	$1.3B
Cost & Expenses	$3.8B
OPERATING INCOME	$397M
Interest Income	$1M
Interest Expense	$0
Other Income/Expenses	$1M
INCOME BEFORE TAX	$398M
Income Tax Expense	$145M
Net Income from Continuing Ops	$252M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$252M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$252M
D&A	$49M
EBIT	$398M
EBITDA	$445M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.2B
Cost of Revenue	$2.5B
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.3B
Other Expenses	$0
Operating Expenses	$1.3B
Cost & Expenses	$3.8B
OPERATING INCOME	$397M
Interest Income	$1M
Interest Expense	$0
Other Income/Expenses	$1M
INCOME BEFORE TAX	$398M
Income Tax Expense	$145M
Net Income from Continuing Ops	$252M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$252M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$252M
D&A	$49M
EBIT	$398M
EBITDA	$445M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$252M
Depreciation & Amortization	$49M
Stock-Based Compensation	$39M
Deferred Income Tax	-$13M
Other Non-Cash Items	-$261M
Change in Working Capital	-$17M
OPERATING CASH FLOW	$49M
Capital Expenditure	-$53M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$44M
NET CASH FROM INVESTING	-$53M
Net Debt Issuance	-$4M
Common Stock Repurchased	-$168M
Common Dividends Paid	-$89M
Other Financing Activities	$41M
NET CASH FROM FINANCING	-$220M
FREE CASH FLOW	-$4M
Net Change in Cash	-$12M

Balance Sheet

Item	Amount
Cash & Equivalents	$276M
Short-Term Investments	$0
Net Receivables	$552M
Inventory	$262M
Other Current Assets	$345M
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$113M
Goodwill	$201M
Intangible Assets	$556.0K
Long-Term Investments	-$113M
Tax Assets	$113M
Other Non-Current Assets	$4M
TOTAL NON-CURRENT ASSETS	$318M
TOTAL ASSETS	$1.5B
Account Payables	$140M
Short-Term Debt	$128.0K
Deferred Revenue	$0
Other Current Liabilities	$35M
TOTAL CURRENT LIABILITIES	$536M
Long-Term Debt	$1M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$33M
TOTAL NON-CURRENT LIABILITIES	$35M
TOTAL LIABILITIES	$571M
Common Stock	$137.0K
Additional Paid-In Capital	$868M
Retained Earnings	$13M
Treasury Stock	$0
Accum. Other Comp. Income	$38M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$920M
Minority Interest	$0
TOTAL EQUITY	$920M
TOTAL LIABILITIES & EQUITY	$1.5B
Total Debt	$1M
Net Debt	-$274M