To reinforce that we're all in this together, I've cut my base pay by 100% until the end of the year and the other executive officers across the enterprise have also taken substantial pay cuts.
Companywide revenues were $1.507 billion, up 3% from last year's first quarter on a reported basis, and up 2% on an as-adjusted basis.
Net income per share for the quarter was $0.79 compared to $0.93 in the first quarter one year ago.
Cash flow from operations during the quarter was $125 million and capital expenditures were $14 million.
In February, we raised our quarterly cash dividend to shareholders from $0.31 to $0.34 per share.
We paid the dividend in March for a total cash outlay of $40 million.
We also repurchased approximately one million Robert Half shares during the quarter for $51 million.
We have 1.5 million shares available for repurchase under our Board-approved stock repurchase plan.
Return on invested capital for the company was 32% in the first quarter.
As Keith noted, global revenues were $1.507 billion in the first quarter.
This is an increase of 3% from the first quarter one year ago on a reported basis and an increase of 2% on an as-adjusted basis.
Also on an as-adjusted basis, first quarter staffing revenues were down 1% year-over-year.
U.S. staffing revenues were $944 million, down 0.2% from the prior year.
Non-U.S. staffing revenues were $269 million, down 4% year-over-year on an as-adjusted basis.
We have 327 staffing locations worldwide, including 88 locations in 17 countries outside the United States.
In the first quarter, there were 63.1 billing days compared to 62.2 billing days in the same quarter one year ago.
The current second quarter has 63.4 billing days, unchanged from the second quarter one year ago.
Currency exchange rate movements during the first quarter had the effect of decreasing reported year-over-year staffing revenues by $9 million.
This decreased our year-over-year reported staffing revenue growth rate by 0.7 percentage points.
Global revenues in the first quarter were $294 million, $233 million of that is from business within the United States and $61 million is from operations outside the United States.
On an as-adjusted basis, global first quarter Protiviti revenues were up 15% versus the year ago period.
The U.S. with U.S. Protiviti revenues up 20%.
Non-U.S. revenues were up 2% on an as-adjusted basis.
Exchange rates had the effect of decreasing year-over-year Protiviti revenues by $2 million and decreasing its year-over-year reported growth rate by 0.6 percentage points.
Protiviti and its independently owned Member Firms serve clients through a network of 86 locations in 27 countries.
In our temporary and consulting staffing operations, first quarter gross margin was 37.8% of applicable revenues compared to 38% of applicable revenues in the first quarter one year ago.
Our permanent placement revenues in the first quarter were 9.9% of consolidated staffing revenues versus 10.8% of consolidated staffing revenues in the same quarter one year ago.
When combined with temporary and consulting gross margin, overall staffing gross margin decreased 70 basis points compared to the year ago first quarter, to 44%.
For Protiviti, gross margin was $78 million in the first quarter or 26.3% of Protiviti revenues.
One year ago, gross margin for Protiviti was $64 million or 25.3% of Protiviti revenues.
Companywide SG&A costs were 31.8% of global revenues in the first quarter compared to 31.4% in the same quarter one year ago.
Staffing SG&A costs were 35.3% of staffing revenues in the first quarter versus 34.2% in the first quarter of 2019.
First quarter SG&A costs for Protiviti were 17.3% of Protiviti revenues compared to 17.9% of revenues in the year ago period.
Companywide operating income was $131 million in the first quarter.
Operating margin was 8.7%.
First quarter operating income for our staffing divisions was $105 million with an operating margin of 8.6%.
Operating income for Protiviti in the first quarter was $26 million, with an operating margin of 9%.
Our first quarter tax rate was very high at 32% compared to 26% a year ago.
At the end of the first quarter, accounts receivable was $854 million, and implied day sales outstanding, DSO, was 51 days.
Our temporary and consulting staffing divisions exited the first quarter with March revenues down 6% versus the prior year compared to being flat for the full quarter.
Revenues for the first three weeks of April were down 25% compared to the same period one year ago.
Permanent placement revenues in March were down 33.3% versus March of 2019.
This compares to a 9% decrease for the full quarter.
For the first three weeks of April, permanent placement revenues were down 63% compared to the same period in 2019.
Protiviti expects second quarter revenues to be in the range of flat to down 10% versus the prior year.
As a result of these staffing trends and the continuing social distancing lockdowns across the globe, we took actions in March and early April to reduce our operating costs by approximately 20% compared to the first quarter of 2020.
Also, we are currently taking further action to reduce SG&A costs by an additional 10%.
Given the timing of these reductions and certain severance costs, reported results in the second quarter will only reflect savings of approximately 25% versus the first quarter of 2020.
At the end of the quarter, we had $250 million in cash and $854 million in receivables, both of which will be a significant source of ongoing liquidity and financial resilience.
Much of the current unprecedented monetary and physical policy response to this crisis, including this week's $484 billion extension, is targeted at our client base.

Summary:
Net income per share for the quarter was $0.79 compared to $0.93 in the first quarter one year ago.
As Keith noted, global revenues were $1.507 billion in the first quarter.