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US – Kelly Revenue Falls 4%

November 07 2012

Kelly Services Inc. (NASD: KELYA) reported third-quarter revenue fell 3.9 percent to $1.35 billion from $1.41 billion in the year-ago period. Gross margin improved to 16.8 percent in the third quarter from 16.0 percent in the same quarter in the previous year.

Third-quarter U.S. revenue slipped 0.6 percent on a year-over-year basis to $853.4 million. Third-quarter revenue in Canada fell 6.1 percent, or 4.6 percent in constant currency, to $61.9 million.

Total Americas revenue — which includes the United States, Canada, Mexico, Puerto Rico and Brazil — inched up 0.9 percent, or 1.6 percent on a constant-currency basis, in the third quarter to $985.2 million.

Third-quarter revenue in Kelly’s Europe, Middle East and Africa region fell 16.4 percent, or 6.4 percent on a constant currency basis, to $263.1 million. Asia Pacific revenue dropped 11.0 percent, or 8.4 percent in constant currency, to $105.9 million in the third quarter.

Revenue in Kelly’s outsourcing and consulting group rose 29.7 percent, or 30.9 percent in constant currency, in the third quarter to $104.7 million. KellyOCG includes recruitment process outsourcing, managed services, independent contractor compliance, executive search, outplacement and other services.

The company’s third-quarter net income fell 15.7 percent to $16.6 million.

Kelly Services Inc. (NASD: KELYA)
 For the third quarter ended Sept. 30, 2012, compared with the same period in 2011.
 Revenue: $1.35 billion, -3.9 percent
 Net income: $16.6 million, -15.7 percent 


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