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Kelly Revenue Rises 10%

November 09 2011

Kelly Services Inc. (NASD: KELYA) reported third-quarter revenue rose 9.7 percent to $1.41 billion from $1.28 billion in the third quarter of last year.

Third-quarter revenue in Kelly’s Americas Commercial segment rose 4.5 percent year over year to $661.7 million. Third-quarter revenue in the Americas Professional and Technical segment rose 7.4 percent to $250.8 million.

Third-quarter revenue in Kelly’s outsourcing and consulting group division rose 25.9 percent to $80.7 million. KellyOCG includes recruitment process outsourcing, managed services, independent contractor compliance, executive search, outplacement and other services.

Kelly’s third-quarter U.S. revenue rose 5.8 percent to $858.6 million. Revenue in Canada rose 16.4 percent to $66.0 million, up 9.8 percent on a constant currency basis.

Mexico and Puerto Rico are also included in Kelly’s North American operations. Mexican third-quarter revenue rose 7.7 percent (up 4.0 percent on a constant currency basis) to $27.1 million, and Puerto Rican third-quarter revenue rose 13.3 percent to $24.5 million.

Third-quarter revenue in Kelly’s Europe, Middle East and Africa region rose 16.6 percent to $314.6 million; it was up 4.9 percent in constant currency. Asia Pacific revenue rose 18.9 percent (8.5 percent in constant currency) to $118.0 million.

Third-quarter gross margin edged up to 16.2 percent from 16.1 percent in the third quarter of 2010.

Kelly posted third-quarter net income of $19.7 million, more than double the year-ago income of $9.6 million.

Kelly Services Inc. (NASD: KELYA)
For the third quarter ended Oct. 2, 2011, compared with the same period in the previous year.
Revenue: $1.41 billion, +9.7 percent
Net income: $19.7 million, +105.6 percent


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