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Pasona first-quarter revenue falls 6%

October 12, 2010

Pasona Group Inc., a Tokyo-based staffing firm, reported revenue fell 5.5% on a year-over-year basis to 44.57 billion yen (US$525.4 million) in its fiscal first quarter ended Aug. 31, 2010.

The company reported that demand by businesses to increase efficiency helped increase orders for temporary staffing. Separately, place & search also showed signs of an upswing. However, Pasona's outplacement business declined.

First-quarter gross margin edged down to 18.3% from 18.7% in the year-ago quarter.

Pasona posted a net loss of 471.0 million yen (US$5.6 million) compared with a net loss of 1.10 billion yen in the first quarter of last year.

The company forecasts revenue of 186.00 billion yen, an increase of 1.4%, for its full fiscal year ending May 31, 2011.

Pasona ranked No. 12 on Staffing Industry Analysts' 2010 list of largest global staffing firms.

Pasona Group Inc.
For the fiscal first quarter ended Aug. 31, 2010 compared with the same period in the previous year.
Revenue: 44.57 billion yen (US$525.4 million), -5.5%
Net loss 471.0 million yen (US$5.6 million) vs. net loss of 1.10 billion million yen