We were particularly pleased with the strength of our permanent placement and Protiviti operations, which grew year-over-year by 102% and 62%, respectively.
Companywide revenues were $1.581 billion in the second quarter of 2021, up 43% from last year's second quarter on a reported basis, and up 40% on an as adjusted basis.
Net income per share in the second quarter was $1.33, increasing 227% compared to $0.41 in the second quarter a year ago.
Cash flow from operations during the quarter was $165 million.
In June, we distributed a $0.38 per share cash dividend to our shareholders of record, for a total cash outlay of $42 million.
We also acquired approximately 717,000 Robert Half shares during the quarter, for $63 million.
We have 8.4 million shares available for repurchase under our Board-approved stock repurchase plan.
Return on invested capital for the company was 49% in the second quarter.
As Keith noted, global revenues were $1.581 billion in the second quarter.
On an as adjusted basis, second quarter staffing revenues were up 33% year-over-year.
U.S. staffing revenues were $855 million, up 34% from the prior year.
Non-U.S. staffing revenues were $267 million, up 31% on a year-over-year basis as adjusted.
We have 322 staffing locations worldwide, including 86 locations in 17 countries outside the United States.
In the second quarter, there were 63.4 billing days, unchanged from the same quarter one year ago.
The current third quarter has 64.4 billing days, compared to 64.3 billing days in the third quarter one year ago.
Currency exchange rate movements during the second quarter had the effect of increasing reported year-over-year staffing revenues by $24 million.
This impacted our year-over-year reported staffing revenue growth rate by 2.9 percentage points.
Temporary and consultant bill rates for the quarter increased 3.7% compared to one year ago, adjusted for changes in the mix of revenues by line of business, currency and country.
This rate for Q1 2021 was 3.4%.
Global revenues in the second quarter were $459 million.
$366 million of that is from business within the United States, and $93 million is from operations outside the United States.
On an as adjusted basis, global second quarter Protiviti revenues were up 59% versus the year ago period, with U.S. Protiviti revenues up 63%.
Non-U.S. revenues were up 43% on an as adjusted basis.
Exchange rates had the effect of increasing year-over-year Protiviti revenues by $8 million and increasing its year-over-year reported growth rate by 2.8 percentage points.
Protiviti and its independently owned Member Firms serve clients through a network of 86 locations in 28 countries.
In our temporary and consultant staffing operations, second quarter gross margin was 39.7% of applicable revenues, compared to 37.1% of applicable revenues in the second quarter one year ago.
Our permanent placement revenues in the second quarter were 12.8% of consolidated staffing revenues, versus 8.6% of consolidated staffing revenues in the same quarter one year ago.
When combined with temporary and consultant gross margin, overall staffing gross margin increased 490 basis points compared to the year-ago second quarter, to 47.4%.
For Protiviti, gross margin was 29.1% of Protiviti revenues, compared to 23.4% of Protiviti revenues one year ago.
Adjusted for the effect of deferred compensation expense related to changes in the underlying trust investment assets as previously mentioned, adjusted gross margin for Protiviti was 30% for the quarter just ended versus 25.7% one year ago.
Transitioning to Selling, General and Administrative Costs, company SG&A costs were 30.9% of global revenues in the second quarter, compared to 36.7% in the same quarter one year ago.
Changes in deferred compensation obligations related to increases in underlying trust investments had the impact of increasing SG&A as a percent of revenue by 1.5% in the current second quarter and increasing SG&A by 3.8% in the same quarter one year ago.
When adjusted for these changes, companywide SG&A costs were 29.4% for the quarter just ended, compared to 32.9% one year ago.
Staffing SG&A costs were 38.4% of staffing revenues in the second quarter, versus 44.2% in the second quarter of 2020.
Included in staffing SG&A costs was deferred compensation expense related to increases in the underlying trust investment assets of 2.1% in the second quarter, compared to an expense of 5.1% related to increases in the underlying trust investment assets in the same quarter one year ago.
When adjusted for these changes, staffing SG&A costs were 36.3% percent for the quarter just ended, compared to 39.1% one year ago.
Second quarter SG&A costs for Protiviti were 12.5% of Protiviti revenues, compared to 15.1% of revenues in the year-ago period.
Operating income for the quarter was $177 million.
This includes $28 million of deferred compensation expense related to increases in the underlying trust investment assets.
Combined segment income was therefore $205 million in the second quarter.
Combined segment margin was 12.9%.
Second quarter segment income from our staffing divisions was $125 million, with a segment margin of 11.1%.
Segment income for Protiviti in the second quarter was $80 million, with a segment margin of 17.4%.
Our second quarter tax rate was 27%, compared to 20% one year ago.
Outstanding or DSO was 51.6 days.
Our temporary and consultant staffing divisions exited the second quarter with June revenues up 34% versus the prior year, compared to a 27% increase for the full quarter.
Revenues for the first two weeks of July were up 35% compared to the same period one year ago.
Permanent placement revenues in June were up 83% versus June of 2020.
This compares to a 97% increase for the full quarter.
For the first three weeks in July, permanent placement revenues were up 83% compared to the same period in 2020.
Revenue $1.61 billion to $1.69 billion.
Income per share $1.35 to $1.45.
Midpoint revenues of $1.65 billion are 37% higher than 2020 and 5% higher than 2019 levels on an as adjusted basis.
Midpoint earnings per share of $1.40 is 110% higher than 2020 and 39% higher than 2019.
The major financial assumptions underlying the midpoint of these estimates are as follows; revenue growth on a year-over-year basis; staffing up 33% to 35%; Protiviti up 46% to 48%; overall up 36% to 38%.
Gross margin percentage, temporary and consultant staffing, 39% to 40%.
Protiviti, 29% to 31%.
Overall, 41% to 43%.
SG&A as percent of revenues, excluding deferred compensation investment impacts: staffing, 35% to 36%; Protiviti, 12% to 13%; overall, 29% to 30%.
Segment income for staffing, 10% to 11%; Protiviti, 17% to 18%; overall, 12% to 13%.
A tax rate up 26% to 27% and shares outstanding 111.5 million.
2021 capital expenditures and capitalized cloud computing costs, $65 to $75 million, with $15 million to $20 million incurred during the third quarter.
The National Federation of Independent Business, NFIB, recently reported that 56% of small businesses had few or no qualified applicants for open positions, and 46% had job openings that could not be filled.
Approximately $100 million in revenue this quarter resulted from work related to these programs, or approximately $0.07 of our earnings per share.
Growth in this public sector business contributed 32 points to Protiviti's year-on-year growth rate of 62%, while the core business accelerated to a growth rate of 30%.

Summary:
Net income per share in the second quarter was $1.33, increasing 227% compared to $0.41 in the second quarter a year ago.
As Keith noted, global revenues were $1.581 billion in the second quarter.