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MPS Group earnings beat estimates

February 07 2008

Fourth-quarter net income at MPS Group Inc. (NYSE: MPS) rose 14.8% to $23.6 million. Earnings of 24 cents per diluted share beat analysts' estimates of 23 cents. The company posted net income of $20.5 million in the fourth quarter of 2006.

MPS' fourth-quarter 2007 revenue rose 17.3% to $570.0 million, beating analysts' estimates of $554.1 million. Gross margin improved to 29.5% from 27.7%.

Fourth-quarter revenue in the Jacksonville FL-based staffing company's North American professional services division increased 15% year-over-year to $177.3 million. The division includes accounting, law, engineering, and healthcare staffing operations. Gross margin was 32.6%, an increase from 29% in the same period last year.

Revenue in the company's North American information technology services division rose 11% to $161.1 million year-over-year. Gross margin was 30.2%, up 110 basis points from the fourth quarter of 2006.

MPS full-year 2007 net income rose 15.8% to $87.1 million from $75.2 million in 2006.

2007 revenue rose 15.7% to $2.17 billion from $1.88 billion in 2006. Gross margin improved to 28.7% from 27.6%.

The company forecast first-quarter 2008 revenue of between $550 million and $580 million. It was announced in January that MPS struck a deal to buy the assets of bankrupt Ensemble Chimes Global.

MPS Group Inc. (NYSE: MPS)
For the fourth quarter ended Dec. 31, 2007, compared with the same period in 2006.
Revenue: $570.0 million, +17.3%
Net income: $23.6 million, +14.8%

For the 2007 fiscal year ended Dec. 31, 2007, compared with the previous year.
Revenue: $2.17 billion, +15.7%
Net income: $87.1 million, +15.8%

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