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ManpowerGroup Inc. (NYSE: MAN), the world’s third-largest staffing firm, reported fourth-quarter revenue fell 5.1 percent (down 3.5 percent in constant currency) from the year-ago quarter to $5.20 billion. The decline was within the company’s guidance of 5 percent to 7 percent.
U.S. fourth-quarter revenue fell 2.0 percent to $750.7 million from $765.9 million in the fourth quarter of last year.
However, other Americas fourth-quarter revenue rose 4.0 percent to $405.4 million (up 4.1 percent in constant currency).
Fourth-quarter revenue fell 11.7 percent in Southern Europe, or 8.2 percent in constant currency. ManpowerGroup’s largest single market, France, posted fourth-quarter revenue of $1.31 billion, down 13.0 percent on a year-over-year basis. France was down 9.5 percent in constant currency.
Northern Europe fourth-quarter revenue fell 3.5 percent, or 2.8 percent in constant currency, to $1.78 billion.
Asia-Pacific revenue rose 0.4 percent in the fourth quarter, up 1.4 percent in constant currency, to $697.7 million.
ManpowerGroup’s Right Management division posted a 6.3 percent increase in fourth-quarter revenue to $84.9 million. The increase was 6.5 percent in constant currency.
Global fourth-quarter gross margin narrowed to 16.9 percent from 17.1 percent in the year-ago quarter.
ManpowerGroup reported net earnings in the fourth quarter of $53.3 million, down 16.2 percent from $63.6 million in the fourth quarter of last year. The company reported a reorganization charge of $26.6 million in the fourth quarter, and a reorganization charge of $20.5 million in the fourth quarter of 2011.
The company expects first-quarter revenue to fall between 6 percent to 8 percent.
ManpowerGroup Inc. (NYSE: MAN)
For the fourth quarter ended Dec. 31, 2012, compared with the same period a year ago.
Revenue: $5.20 billion, -5.1 percent
Net earnings: $53.3 million, -16.2 percent
For the full year ended Dec. 31, 2012, compared to 2011.
Revenue: $20.68 billion, -6.0 percent
Net earnings: $197.6 million, -21.5 percent