Hall Kinion gains 16 percent on 2Q outlook

Hall, Kinion & Associates, Inc. (Nasdaq: HAKI) jumped 16 percent Wednesday after announcing second quarter results will be higher than estimates. First Call's consensus of 5 analysts expected the company would pull in 24 cents a share.

Shares in the company, which calls itself "The Talent Source for the Internet Economy," were up 4 to 28 3/4. Hall Kinion provides specialized technology professionals on a contract and permanent basis to corporate customers.

Revenue for the second quarter is estimated to be in the range of $73 million to $75 million, compared to $42.9 million for the second quarter 1999, an increase of 74 percent.

Earnings are anticipated to be in the range of 26 to 27 cents a share, up 65 percent over the 16 cents a share in the second quarter 1999.

The company said the second quarter growth has occurred as technologists shift from 'dot.coms' to more traditional Internet technology companies.

Hall Kinion intends to release actual results for the second quarter on July 25.