Kelly Services Inc. (NASD: KELYA) reported fourth-quarter revenue fell 6.6% on a year-over-year basis, but rose 13.8% compared with the third quarter.

"For our industry and for Kelly, improvements didn't really begin to show up until the third quarter with more pronounced progress in the fourth," President and CEO Carl Camden said in a conference call with analysts. "And we ended the year decidedly more optimistic and with greater confidence that the stage has been set for a solid sustainable recovery in 2010."

Kelly posted fourth-quarter revenue of $1.19 billion compared with $1.28 billion in the fourth quarter of 2008. The 2009 fourth quarter included an extra week.

Kelly's fourth-quarter U.S. revenue fell 6.2% on a year-over-year basis to $733.1 million. Canadian revenue rose 2.7% to $51.5 million, but fell 9.9% on a constant currency basis.

Fourth-quarter revenue in Europe, the Middle East and Africa fell 13.7% (down 21.0% on a constant currency basis) to $282.8 million. Asia Pacific fourth-quarter revenue rose 11.6% (down 3.5% on a constant currency basis) to $30.7 million.

Gross margin narrowed to 15.8% in the fourth quarter from 17.6% in the year-ago quarter.

Kelly posted a fourth-quarter net loss of $8.2 million compared with a net loss of $88.7 million in the same period last year. The company reported a restructuring charge of $13.4 million in the fourth quarter of 2009; while the fourth quarter of last year included a $4.3 million restructuring charge and an $80.5 million charge for asset impairments.

Full-year 2009 revenue fell 21.8% to $4.31 billion from $5.52 billion in 2008. Gross margin narrowed to 16.3% from 17.7%.

Kelly posted a net loss of $104.5 million in 2009 compared with a net loss of $82.2 million in 2008.

Kelly Services Inc. (NASD: KELYA)
For the fourth quarter ended Jan. 3, 2010, compared with the same period in the previous year.
Revenue: $1.19 billion, -6.6%
Net loss: $8.2 million vs. net loss of $88.7 million

For the 2009 fiscal year ended Jan. 3, 2010, compared with the previous year.
Revenue: $4.31 billion, -21.8%
Net loss: $104.5 million vs. net loss of $82.2 million