Third-quarter revenue fell 28.2% on a pro forma basis at Randstad Holding NV, the world's second-largest staffing firm, to euro3.18 billion (US$4.64 billion) from euro 4.42 billion in the same period last year.

However, the company cited positive signs in several markets.

"It is encouraging that the revenue trend has become a little better through the quarter on average, a trend which has continued in October," CEO Ben Noteboom said. The company's professional business is stabilizing while other staffing is gradually picking up, he said.

The Netherlands-based company's third-quarter North American revenue fell 23% to euro357.9 million (US$522.2 million) on a pro forma basis from euro462.6 million in the third quarter of 2008.

Randstad reported revenue on a pro forma basis which treats its acquisition of Vedior NV in mid-2008 as if both companies had been combined for the full year. Randstad ranked as the world's third-largest staffing firm prior to the acquisition of Vedior, which was the fourth-largest staffing firm.

Third-quarter gross margin fell to 18.8% from 20.6% in the year-ago quarter.

Net income, which is not reported on a pro forma basis, fell 22.4% to euro60.9 million (US$88.9 million) from euro78.5 million the third quarter of 2008.

Randstad said it had 4,181 outlets at the end of the third quarter, 151 less than at the end of the second quarter.

The company said it expects restructuring charges of euro10 million (US$14.6 million) in the fourth quarter.

Randstad Holding NV
For the third quarter ended Sept. 30, 2009, compared with the same period in 2008. Revenue: euro3.18 billion (US$4.64 billion), -28.2%
Net income: euro60.9 million (US$88.9 million), -22.4%
Randstad acquired Vedior NV, the fourth-largest staffing firm, in 2008. The revenue number is reported on a pro forma basis as if both Randstad and Vedior had been combined for all of 2008.