Robert Half Reports Second-Quarter Financial Results

 MENLO PARK, Calif., July 22, 2014 /CNW/ -- Robert Half International Inc.  (NYSE symbol: RHI) today reported revenues and earnings for the second quarter  ended June 30, 2014.  For the quarter ended June 30, 2014, net income was $75.1 million, or $.55 per  share, on revenues of $1.16 billion.  Net income for the prior year's second  quarter was $63.1 million, or $.46 per share, on revenues of $1.06 billion.  For the six months ended June 30, 2014, net income was $136.7 million, or  $1.01 per share, on revenues of $2.25 billion.  For the six months ended June  30, 2013, net income was $119.0 million, or $.86 per share, on revenues of  $2.09 billion.  "Robert Half's growth in the second quarter was broad-based and reflective of  improving labor markets and higher global demand for our professional staffing  services," said Harold M. Messmer, Jr., chairman and CEO of Robert Half.   "Year-over-year revenue growth rates accelerated nicely during the quarter,  both in the United States and in our international operations.  The company's  Protiviti subsidiary also continued to post very strong operating results."  Messmer added, "The highest sequential and year-over-year revenue growth rates  were reported by our permanent placement operations and Protiviti.  This was  Robert Half's 17th consecutive quarter of double-digit net income and  earnings-per-share growth on a year-over-year basis.  Return on equity, on an  unlevered basis, was 31 percent for the quarter."  Robert Half management will conduct a conference call today at 5 p.m. EDT.   The prepared remarks for this call are available now in the Investor Center of  the Robert Half website (www.roberthalf.com/investor-center).  Simply click on  the Quarterly Conference Calls link.  The dial-in number to listen to today's  conference call is 877-814-0475 (+1-706-643-9224 outside the United States).   The password is "Robert Half."  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 August 22.  The  dial-in number for the replay is 855-859-2056 (+1-404-537-3406 outside the  United States).  To access the replay, enter conference ID# 61813931.  The  conference call also will be archived in audio format on the company's website  at www.roberthalf.com.  Founded in 1948, Robert Half, the world's first and largest specialized  staffing firm, is a recognized leader in professional consulting and staffing  services, and is the parent company of Protiviti(®), a global consulting firm  that helps companies solve problems in finance, technology, operations,  governance, risk and internal audit.  The company's specialized staffing  divisions include Accountemps(®), Robert Half(®) Finance & Accounting and  Robert Half(® )Management Resources, for temporary, full-time and  senior-level project professionals, respectively, in the fields of accounting  and finance; OfficeTeam(®), for highly skilled temporary administrative  support personnel; Robert Half(® )Technology, for information technology  professionals; Robert Half(®  )Legal, for legal personnel; and The Creative  Group(®), for interactive, design, marketing, advertising and public  relations professionals.  Robert Half has staffing and consulting operations  in more than 400 locations worldwide.  Certain information contained in this press release and its attachments 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  statements.  These risks and uncertainties include, but are not limited to, the following:  the global financial and economic situation; 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; the company's ability to comply with  governmental regulations affecting personnel services businesses in particular  or employer/employee relationships in general; whether there will be ongoing  demand for Sarbanes-Oxley or other regulatory compliance services; the  company's reliance on short-term contracts for a significant percentage of its  business; litigation relating to prior or current transactions or activities,  including litigation that may be disclosed from time to time in the company's  SEC filings; the ability of the company to manage its international operations  and comply with foreign laws and regulations; the impact of fluctuations in  foreign currency exchange rates; the possibility that the additional costs the  company will incur as a result of healthcare reform legislation may adversely  affect the company's profit margins or the demand for the company's services;  the possibility that the company's computer and communications hardware and  software systems could be damaged or their service interrupted; and the  possibility that the company may fail to maintain adequate financial and  management controls and as a result suffer errors in its financial reporting.  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 www.roberthalf.com/investor-center.        ATTACHED:                           Summary of Operations     ---------                                         Supplemental Financial Information                                         Non-GAAP Financial Measures                          ROBERT HALF INTERNATIONAL INC. AND SUBSIDIARIES                                       SUMMARY OF OPERATIONS                              (in thousands, except per share amounts)                                                      Quarter                               Six Months                                                  Ended June 30,                          Ended June 30,                                                --------------                       --------------                                                   2014             2013                    2014             2013                                                   ----             ----                    ----             ----     Net service revenues                         (Unaudited)                          (Unaudited)                            $1,164,914       $1,063,228                   $2,249,256  $2,086,912     Direct costs of      services                                  686,470          631,120               1,332,317        1,244,514                                                -------          -------               ---------        ---------     Gross margin                               478,444          432,108                 916,939          842,398     Selling, general and      administrative      expenses                                  354,791          331,314                 691,177          652,099     Amortization of      intangible assets                             224              434                     557              867     Interest income                              (224)           (236)                  (462)           (540)                                                   ----             ----                    ----             ----     Income before income      taxes                                     123,653          100,596                 225,667          189,972     Provision for income      taxes                                      48,513           37,507                  88,976           71,020                                                 ------           ------                  ------           ------     Net income                                 $75,140          $63,089                $136,691         $118,952                                                =======          =======                ========         ========     Net income available      to common      stockholders-      diluted                                   $75,140          $63,088                $136,691         $118,948                                                =======          =======                ========         ========     Diluted net income      per share                                    $.55             $.46                   $1.01             $.86     Shares:        Basic                                   134,699          136,385                 135,014          136,845        Diluted                                 135,708          137,659                 135,932          138,024                                                        ROBERT HALF INTERNATIONAL INC. AND SUBSIDIARIES                                                               SUPPLEMENTAL FINANCIAL INFORMATION                                                                         (in thousands)                                         Quarter                                          Six Months                                     Ended June 30,                                     Ended June 30,                                     --------------                                   --------------                                                   2014               2013                                2014  2013                                                   ----               ----                                ----  ----                                       (Unaudited)                                      (Unaudited)     REVENUES:     Accountemps                             $402,996              34.6%                  $378,515     35.6%          $786,020    34.9%     $755,129     36.2%    OfficeTeam                               226,505              19.4%                   207,683     19.5%           437,565    19.5%      409,320     19.6%    Robert Half Technology                   141,988              12.2%                   131,751     12.4%           274,293    12.2%      252,752     12.1%    Robert Half Management     Resources                               139,549              12.0%                   124,120     11.7%           270,730    12.0%      248,290     11.9%    Robert Half Finance &     Accounting                              102,827               8.8%                    90,347      8.5%           195,452     8.7%      173,724      8.3%    Protiviti                                151,049              13.0%                   130,812     12.3%           285,196    12.7%      247,697     11.9%                                             -------               ----                    -------      ----            -------     ----       -------      ----    Total                                 $1,164,914             100.0%                $1,063,228    100.0%        $2,249,256   100.0%   $2,086,912    100.0%                                          ==========              =====                 ==========     =====         ==========    =====    ==========     =====        GROSS MARGIN:       Temporary and      consultant staffing                    $332,733              36.5%                  $304,383     36.1%          $641,923    36.3%     $601,334     36.1%    Permanent placement     staffing                                102,781             100.0%                    90,310    100.0%           195,383   100.0%      173,658    100.0%          Risk consulting and        internal audit      services                                 42,930              28.4%                    37,415     28.6%            79,633    27.9%       67,406     27.2%                                              ------               ----                     ------      ----             ------     ----        ------      ----    Total                                   $478,444              41.1%                  $432,108     40.6%          $916,939    40.8%     $842,398     40.4%                                            ========               ====                   ========      ====           ========     ====      ========      ====        OPERATING INCOME:       Temporary and      consultant staffing                     $88,756               9.7%                   $76,581      9.1%          $166,241     9.4%     $149,761      9.0%    Permanent placement     staffing                                 22,448              21.8%                    15,477     17.1%            39,723    20.3%       28,062     16.2%          Risk consulting and        internal audit      services                                 12,449               8.2%                     8,736      6.7%            19,798     6.9%       12,476      5.0%                                              ------                ---                      -----       ---             ------      ---        ------       ---    Total                                   $123,653              10.6%                  $100,794      9.5%          $225,762    10.0%     $190,299      9.1%                                            ========               ====                   ========       ===           ========     ====      ========       ===        SELECTED CASH FLOW INFORMATION:       Amortization of      intangible assets                          $224                                         $434                        $557                  $867    Depreciation expense                     $11,863                                      $11,579                     $24,063               $23,326    Capital expenditures                     $10,642                                      $11,022                     $23,085               $19,104          Open market        repurchases of common      stock (shares)                              481                                        1,190                       1,306                 2,026           ROBERT HALF INTERNATIONAL INC. AND SUBSIDIARIES               SUPPLEMENTAL FINANCIAL INFORMATION                         (in thousands)                                                         June 30,                                                        --------                                                      2014           2013                                                      ----           ----                                                    (Unaudited)     SELECTED BALANCE SHEET INFORMATION:             Cash and cash equivalents            $307,778       $246,971             Accounts receivable, less              allowances                          $617,200       $557,311             Total assets                       $1,588,445     $1,428,324             Current liabilities                  $580,890       $534,895             Notes payable and other              indebtedness,                         $1,231         $1,365                 less current portion             Total stockholders' equity           $975,561       $861,751  ROBERT HALF INTERNATIONAL INC. AND SUBSIDIARIES NON-GAAP FINANCIAL MEASURES  The financial results of Robert Half International Inc. (the "Company") are  prepared in conformity with accounting principles generally accepted in the  United States of America ("GAAP") and the rules of the U.S. Securities and  Exchange Commission ("SEC").  To help readers understand the Company's  financial performance, the Company supplements its GAAP financial results with  revenue growth rates derived from non-GAAP revenue amounts.  Variations in the Company's financial results include the impact of changes in  foreign currency exchange rates and billing days.  The Company provides "same  billing days and constant currency" revenue growth calculations to remove the  impact of these items.  These calculations show the year-over-year revenue  growth rates for the Company's lines of business on both a reported basis and  also on a same-day, constant-currency basis for global, U.S. and international  operations.  This information is presented for each of the six most recent  quarters.  The Company has provided this data because management believes it  better reflects the Company's actual revenue growth rates and aids in  evaluating revenue trends over time.  The Company expresses year-over-year  revenue changes as calculated percentages using the same number of billing  days and constant currency exchange rates.  The non-GAAP financial measures provided herein may not provide information  that is directly comparable to that provided by other companies in the  Company's industry, as other companies may calculate such financial results  differently.  The Company's non-GAAP financial measures are not measurements  of financial performance under GAAP and should not be considered as  alternatives to actual revenue growth derived from revenue amounts presented  in accordance with GAAP.  The Company does not consider these non-GAAP  financial measures to be a substitute for, or superior to, the information  provided by GAAP financial results.  A reconciliation of the non-GAAP  financial measures to the most directly comparable GAAP financial measures is  provided on the following pages.                                                                               ROBERT HALF INTERNATIONAL INC. AND  SUBSIDIARIES                                                                                              NON-GAAP FINANCIAL MEASURES     REVENUE GROWTH RATES (%) (UNAUDITED):                                                   Year-Over-Year Growth Rates                    Non-GAAP Year-Over-Year Growth Rates                                                         (As Reported)                             (Same Billing Days  and Constant                                                                                                           Currency)                                                       ------------                           ------------------------ --------                                                   2013                        2014                                2013                2014                                                ----                        ----                                ----                ----   Global                                 Q1                   Q2                     Q3                Q4               Q1            Q2       Q1        Q2        Q3      Q4  Q1        Q2                                        ---                  ---                    ---               ---                ---           ---      ---       ---       ---      --- ---      ---        Accountemps                                -2.3                        -0.7              -0.8               -0.4                 1.7      6.5       0.2      -1.3     -2.0     -0.3  1.4     6.5     OfficeTeam                                  0.6                         2.4               2.5                3.0                 4.7      9.1       3.1       1.6      0.8      2.8  4.0     9.0     RH Technology                               4.6                        10.2              11.8               14.1                 9.3      7.8       7.4       9.5     10.8     14.9  9.5     8.5     RH Management Resources                    -3.1                        -1.2              -0.2                0.7                 5.6     12.4      -0.3      -1.5     -0.9      1.1  5.3    12.2                                                ----                        ----              ----                ---                 ---     ----      ----      ----     ----      ---  ---    ----     Temporary and consultant      staffing                                  -0.8                         1.6               1.9                2.7                 4.1      8.2       1.8       0.9      0.7      2.9  3.8     8.3     Permanent placement      staffing                                   0.6                         1.4               7.9                6.6                11.1     13.8       4.0       1.2      7.9      7.8 11.6    14.2                                                 ---                         ---               ---                ---                ----     ----       ---       ---      ---      --- ----    ----     Total staffing                             -0.6                         1.6               2.5                3.1                 4.8      8.7       2.0       1.0      1.3      3.3  4.5     8.9     Protiviti                                  13.6                        18.7              16.3               18.0                14.8     15.5      18.9      20.3     16.9     15.6 14.1    14.4                                                ----                        ----              ----               ----                ----     ----      ----      ----     ----     ---- ----    ----     Total                                       0.8                         3.4               4.1                4.8                 5.9      9.6       3.9       3.2      3.3      4.9  5.7     9.6                                                 ===                         ===               ===                ===                 ===      ===       ===       ===      ===      ===  ===     ===     United States     Temporary and consultant      staffing                                   2.9                         4.0               4.5                5.0                 5.9      9.3       5.5       3.3      3.3      5.2  5.4     9.8     Permanent placement      staffing                                  14.9                        10.3              13.8               11.0                12.6     15.8      17.8       9.6     12.5     11.3 12.1    16.3                                                ----                        ----              ----               ----                ----     ----      ----       ---     ----     ---- ----    ----     Total staffing                              3.7                         4.5               5.2                5.4                 6.4      9.8       6.3       3.8      4.0      5.6  5.9    10.3     Protiviti                                  16.6                        23.3              22.1               19.6                19.0     19.0      21.3      24.3     21.7     16.5 18.0    18.4                                                ----                        ----              ----               ----                ----     ----      ----      ----     ----     ---- ----    ----     Total                                       5.1                         6.6               7.2                7.1                 7.9     11.0       8.1       6.2      6.3      7.1  7.5    11.4                                                 ===                         ===               ===                ===                 ===     ====       ===       ===      ===      ===  ===    ====     International     Temporary and consultant      staffing                                 -10.7                        -5.8              -5.9               -4.2                -1.2      4.6      -8.2      -6.2     -7.2     -4.2 -1.0     3.3     Permanent placement      staffing                                 -16.6                       -10.8              -0.8                0.0                 8.6     10.6     -12.7     -10.1      1.0      2.7 10.8    10.7                                               -----                       -----              ----                ---                 ---     ----     -----     -----      ---      --- ----    ----     Total staffing                            -11.6                        -6.5              -5.2               -3.6                 0.1      5.4      -8.8      -6.8     -6.0     -3.3  0.6     4.4     Protiviti                                   4.3                         4.2              -3.8               12.0                 0.4      2.4      11.5       7.9      0.2     12.5  0.8    -0.2                                                 ---                         ---              ----               ----                 ---      ---      ----       ---      ---     ----  ---    ----     Total                                     -10.2                        -5.5              -5.1               -2.0                 0.1      5.1      -6.9      -5.2     -5.3     -1.4  0.6     3.9                                               =====                        ====              ====               ====                 ===      ===      ====      ====     ====     ====  ===     ===  The non-GAAP financial measures included in the table above adjust for the  following items:  Foreign Currency Translation.  The "As Reported" revenue growth rates are  based upon reported revenues, which include the impact of changes in foreign  currency exchange rates.  In order to calculate "Constant Currency" revenue  growth rates, as-reported amounts are retranslated using foreign exchange  rates from the prior year's comparable period.  Billing Days.  The "As Reported" revenue growth rates are based upon reported  revenues.  Management calculates a global, weighted-average number of billing  days for each reporting period based upon input from all countries and all  lines of business.  In order to remove the fluctuations caused by comparable  periods having different billing days, the company calculates "same billing  day" revenue growth rates by dividing each comparative period's reported  revenues by the calculated number of billing days for that period, to arrive  at a "per billing day" amount.  The "same billing day" growth rates are then  calculated based upon the "per billing day" amounts.  The term "same billing days and constant currency" means that the impact of  different billing days has been removed from constant currency calculation.  A  reconciliation of the non-GAAP year-over-year revenue growth rates to the "As  Reported" year-over-year revenue growth rates is included herein on Pages  10-12.                                                    ROBERT HALF INTERNATIONAL INC. AND SUBSIDIARIES                                                           NON-GAAP FINANCIAL MEASURES     REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):                                                     Year-Over-Year Revenue Growth - GLOBAL                                                     --------------------------------------                                                 Q1 2013             Q2 2013             Q3 2013      Q4 2013      Q1  2014      Q2 2014                                                -------             -------             -------      -------      ---- ---      -------        Accountemps     As Reported                                           -2.3                 -0.7               -0.8         -0.4           1.7          6.5     Billing Days Impact                                    2.5                 -0.6               -1.1          0.2          -0.5          0.4     Currency Impact                                        0.0                  0.0               -0.1         -0.1           0.2         -0.4                                                            ---                  ---               ----         ----           ---         ----     Same Billing Days and      Constant Currency                                     0.2                 -1.3               -2.0         -0.3           1.4          6.5                                                            ---                 ----               ----         ----           ---          ---     OfficeTeam     As Reported                                            0.6                  2.4                2.5          3.0           4.7          9.1     Billing Days Impact                                    2.5                 -0.7               -1.2          0.2          -0.5          0.5     Currency Impact                                        0.0                 -0.1               -0.5         -0.4          -0.2         -0.6                                                            ---                 ----               ----         ----          ----         ----     Same Billing Days and      Constant Currency                                     3.1                  1.6                0.8          2.8           4.0          9.0                                                            ---                  ---                ---          ---           ---          ---     Robert Half Technology     As Reported                                            4.6                 10.2               11.8         14.1           9.3          7.8     Billing Days Impact                                    2.7                 -0.8               -1.4          0.3          -0.5          0.5     Currency Impact                                        0.1                  0.1                0.4          0.5           0.7          0.2                                                            ---                  ---                ---          ---           ---          ---     Same Billing Days and      Constant Currency                                     7.4                  9.5               10.8         14.9           9.5          8.5                                                            ---                  ---               ----         ----           ---          ---     Robert Half Management Resources     As Reported                                           -3.1                 -1.2               -0.2          0.7           5.6         12.4     Billing Days Impact                                    2.4                 -0.8               -1.1          0.2          -0.4          0.6     Currency Impact                                        0.4                  0.5                0.4          0.2           0.1         -0.8                                                            ---                  ---                ---          ---           ---         ----     Same Billing Days and      Constant Currency                                    -0.3                 -1.5               -0.9          1.1           5.3         12.2                                                           ----                 ----               ----          ---           ---         ----     Temporary and consultant staffing     As Reported                                           -0.8                  1.6                1.9          2.7           4.1          8.2     Billing Days Impact                                    2.5                 -0.8               -1.2          0.3          -0.5          0.5     Currency Impact                                        0.1                  0.1                0.0         -0.1           0.2         -0.4                                                            ---                  ---                ---         ----           ---         ----     Same Billing Days and      Constant Currency                                     1.8                  0.9                0.7          2.9           3.8          8.3                                                            ---                  ---                ---          ---           ---          ---     Permanent placement staffing     As Reported                                            0.6                  1.4                7.9          6.6          11.1         13.8     Billing Days Impact                                    2.6                 -0.7               -1.2          0.2          -0.5          0.6     Currency Impact                                        0.8                  0.5                1.2          1.0           1.0         -0.2                                                            ---                  ---                ---          ---           ---         ----     Same Billing Days and      Constant Currency                                     4.0                  1.2                7.9          7.8          11.6         14.2                                                            ---                  ---                ---          ---          ----         ----     Total staffing     As Reported                                           -0.6                  1.6                2.5          3.1           4.8          8.7     Billing Days Impact                                    2.5                 -0.7               -1.3          0.2          -0.5          0.6     Currency Impact                                        0.1                  0.1                0.1          0.0           0.2         -0.4                                                            ---                  ---                ---          ---           ---         ----     Same Billing Days and      Constant Currency                                     2.0                  1.0                1.3          3.3           4.5          8.9                                                            ---                  ---                ---          ---           ---          ---     Protiviti     As Reported                                           13.6                 18.7               16.3         18.0          14.8         15.5     Billing Days Impact                                    4.6                  0.9               -0.4         -3.2          -1.0         -0.7     Currency Impact                                        0.7                  0.7                1.0          0.8           0.3         -0.4                                                            ---                  ---                ---          ---           ---         ----     Same Billing Days and      Constant Currency                                    18.9                 20.3               16.9         15.6          14.1         14.4                                                           ----                 ----               ----         ----          ----         ----     Total     As Reported                                            0.8                  3.4                4.1          4.8           5.9          9.6     Billing Days Impact                                    2.9                 -0.4               -1.0          0.0          -0.4          0.4     Currency Impact                                        0.2                  0.2                0.2          0.1           0.2         -0.4                                                            ---                  ---                ---          ---           ---         ----     Same Billing Days and      Constant Currency                                     3.9                  3.2                3.3          4.9           5.7          9.6                                                            ---                  ---                ---          ---           ---          ---                                                    ROBERT HALF INTERNATIONAL INC. AND SUBSIDIARIES                                                              NON-GAAP FINANCIAL MEASURES     REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):                                                                                                  Year-Over-Year  Revenue Growth - UNITED STATES                                                                                                 --------------------- ------------------------                                                                                                 Q1 2013      Q2       Q3      Q4      Q1      Q2                                                                                                             2013      2013     2013     2014     2014                                                                                                  -------   -----    - ----    -----    -----    -----        Temporary and consultant      staffing   As Reported                                                                                         2.9      4.0       4.5      5.0      5.9      9.3  Billing Days   Impact                                                                                             2.6     -0.7      -1.2      0.2     -0.5      0.5  Currency Impact                                                                                       ?       ?        ?       ?       ?       ?                                                                                                      ---     ---      ---     ---     ---     ---        Same Billing Days      and Constant    Currency                                                                                           5.5      3.3       3.3      5.2      5.4      9.8                                                                                                      ---      ---       ---      ---      ---      ---  Permanent placement staffing  As Reported                                                                                        14.9     10.3      13.8     11.0     12.6     15.8  Billing Days   Impact                                                                                             2.9     -0.7      -1.3      0.3     -0.5      0.5  Currency Impact                                                                                       ?       ?        ?       ?       ?       ?                                                                                                      ---     ---      ---     ---     ---     ---        Same Billing Days      and Constant    Currency                                                                                          17.8      9.6      12.5     11.3     12.1     16.3                                                                                                     ----      ---      ----     ----     ----     ----  Total staffing  As Reported                                                                                         3.7      4.5       5.2      5.4      6.4      9.8  Billing Days   Impact                                                                                             2.6     -0.7      -1.2      0.2     -0.5      0.5  Currency Impact                                                                                       ?       ?        ?       ?       ?       ?                                                                                                      ---     ---      ---     ---     ---     ---        Same Billing Days      and Constant    Currency                                                                                           6.3      3.8       4.0      5.6      5.9     10.3                                                                                                      ---      ---       ---      ---      ---     ----  Protiviti  As Reported                                                                                        16.6     23.3      22.1     19.6     19.0     19.0  Billing Days   Impact                                                                                             4.7      1.0      -0.4     -3.1     -1.0     -0.6        Currency Impact                                                                                       −       −        −       −       ?       ?                                                                                                       ---     ---      ---     ---     ---     ---        Same Billing Days      and Constant    Currency                                                                                          21.3     24.3      21.7     16.5     18.0     18.4                                                                                                     ----     ----      ----     ----     ----     ----  Total  As Reported                                                                                         5.1      6.6       7.2      7.1      7.9     11.0  Billing Days   Impact                                                                                             3.0     -0.4      -0.9      0.0     -0.4      0.4        Currency Impact                                                                                       −       −        −       −       ?       ?                                                                                                       ---     ---      ---     ---     ---     ---        Same Billing Days      and Constant    Currency                                                                                           8.1      6.2       6.3      7.1      7.5     11.4                                                                                                      ---      ---       ---      ---      ---     ----                                                          ROBERT HALF INTERNATIONAL INC. AND SUBSIDIARIES                                                                 NON-GAAP FINANCIAL MEASURES     REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):                                      Year-Over-Year Revenue Growth - INTERNATIONAL                                      ---------------------------------------------                                             Q1 2013             Q2 2013             Q3 2013         Q4 2013      Q1  2014      Q2 2014                                            -------             -------             -------         -------      ----- --      -------  Temporary and consultant staffing  As Reported                                      -10.7                 -5.8                -5.9           -4.2        -1.2          4.6  Billing Days   Impact                                            2.2                 -0.7                -1.2            0.2        -0.4          0.4        Currency Impact                                    0.3                  0.3                -0.1           -0.2           0.6         -1.7                                                        ---                  ---                ----           ----           ---         ----     Same Billing Days      and Constant    Currency                                         -8.2                 -6.2                -7.2           -4.2        -1.0          3.3                                                    ----                 ----                ----           ----        ----          ---        Permanent placement staffing     As Reported                                      -16.6                -10.8                -0.8            0.0           8.6         10.6     Billing Days    Impact                                            2.1                 -0.6                -1.2            0.3        -0.5          0.5        Currency Impact                                    1.8                  1.3                 3.0            2.4           2.7         -0.4                                                        ---                  ---                 ---            ---           ---         ----     Same Billing Days      and Constant    Currency                                        -12.7                -10.1                 1.0            2.7        10.8         10.7                                                   -----                -----                 ---            ---        ----         ----        Total staffing     As Reported                                      -11.6                 -6.5                -5.2           -3.6           0.1          5.4     Billing Days    Impact                                            2.3                 -0.7                -1.1            0.1        -0.4          0.5        Currency Impact                                    0.5                  0.4                 0.3            0.2           0.9         -1.5                                                        ---                  ---                 ---            ---           ---         ----     Same Billing Days      and Constant      Currency                                         -8.8                 -6.8                -6.0           -3.3           0.6          4.4                                                       ----                 ----                ----           ----           ---          ---     Protiviti     As Reported                                        4.3                  4.2                -3.8           12.0           0.4          2.4     Billing Days    Impact                                            4.4                  0.8                -0.3           -3.0        -0.8         -0.6        Currency Impact                                    2.8                  2.9                 4.3            3.5           1.2         -2.0                                                        ---                  ---                 ---            ---           ---         ----     Same Billing Days      and Constant      Currency                                         11.5                  7.9                 0.2           12.5           0.8         -0.2                                                       ----                  ---                 ---           ----           ---         ----     Total     As Reported                                      -10.2                 -5.5                -5.1           -2.0           0.1          5.1     Billing Days    Impact                                            2.6                 -0.4                -0.9            0.1        -0.5          0.4        Currency Impact                                    0.7                  0.7                 0.7            0.5           1.0         -1.6                                                        ---                  ---                 ---            ---           ---         ----     Same Billing Days      and Constant      Currency                                         -6.9                 -5.2                -5.3           -1.4           0.6          3.9                                                       ----                 ----                ----           ----           ---          ---    SOURCE  Robert Half  M. Keith Waddell, Vice Chairman, President and Chief Financial Officer, (650)  234-6000  CO: Robert Half ST: California NI: FIN ERN CONF  
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