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MPS revenue increases 15.2%

October 25 2007

Revenue at Jacksonville FL-based MPS Group Inc. (NYSE: MPS) rose 15.2% to $556.6 million in the third quarter from $483.1 million in the third quarter of 2006, beating analysts' revenue estimates of $550.7 million.

The company said revenue would have risen 7% year-over-year excluding the impact of foreign currency exchange and acquisitions.

MPS' net income rose 17.8% to $23.2 million in the third quarter from $19.7 million a year ago. Gross margin improved to 29.0% to 27.8%.

"During the quarter, we continued to see good demand for both temporary and full-time professionals," said CEO Timothy Payne.

Revenue in the company's North American professional services unit rose 11.1% to $176.1 million. It places accounting, law, engineering and healthcare professionals under the brands Accounting Principals, Special Counsel, Entegee and Soliant Health. Gross margin rose to 32.2% from 30.9%.

MPS' North American information technology service unit reported a 10.4% increase in reenue to $158.9 million in the third quarter. Gross margin rose to 29.6% from 29.1%.

MPS forecast revenue of $545 million to $560 million for the fourth quarter.

MPS Group Inc. (NYSE: MPS)

For the third quarter ended Sept. 30, 2007, compared with the same period in 2006

Revenue: $556.6 million, +15.2%

Net income: $23.2 million, +17.8%


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