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Randstad North America Revenue Up 10% Organically

October 27 2011

Randstad Holding NV, the world’s second-largest staffing firm, reported third-quarter North American revenue rose 10 percent from the year-ago quarter on an organic basis, which excludes the impact of currencies, disposals and acquisitions such as its purchase of SFN Group Inc. Revenue rose 25 percent when calculating the increase on a nonorganic basis.

The Netherlands-based company reported third-quarter North American revenue of €618.2 million (US$840.6 million) compared with revenue of €492.7 million in the year-ago quarter. SFN Group contributed €118 million in revenue from Sept. 2, the date it was acquired.

Third-quarter revenue for SFN Group was $522.0 million, down about 1 percent from $527.1 million in the 2010 third quarter. Only revenue from September forward was included in Randstad’s consolidated results.

Third-quarter revenue at Randstad for the full company rose 12 percent (on a nonorganic basis) to €4.23 billion (US$5.75 billion) from €3.78 billion in the third quarter of 2010.

Gross margin narrowed to 18.1 percent in the third quarter from 18.5 percent a year ago.

Randstad posted third-quarter net income of €79.5 million (US$108.1 million), up 10 percent (on a nonorganic basis) from €72.3 million in the year-ago quarter.

Randstad Holding NV
For the third quarter ended Sept. 30, 2011, compared with the same period last year.
Revenue: €4.23 billion (US$5.75 billion), +12 percent
Net income: €79.5 million (US$108.1 million), +10 percent

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