Kelly Services® Reports 1st Quarter 2012 Results
TROY, MI (May 9, 2012) -- Kelly Services, Inc. (NASDAQ: KELYA) (NASDAQ: KELYB), a leader in providing workforce solutions, today announced results for the first quarter 2012.
Carl T. Camden, President and Chief Executive Officer, announced revenue for the first quarter of 2012 totaled $1.4 billion, a 1% increase compared to the corresponding quarter in 2011.
Earnings from continuing operations for the first quarter of 2012 totaled $9.2 million, compared to $1.1 million reported for the first quarter of 2011.
Diluted earnings per share from continuing operations in the first quarter of 2012 were $0.24 compared to $0.03 per share in the first quarter 2011.
Commenting on the first quarter results, Camden stated, “We are pleased to report solid quarterly performance in spite of the economic challenges that continue to test the sustainability of this recovery. By staying focused on our strategy, we were able to leverage a leaner cost structure, improve our gross profit rate, and increase earnings.”
Camden added that Kelly® has strengthened its competitive position this cycle and is focused on building shareholder value and increasing profit levels. “We remain committed to meeting our customers’ needs for flexible, innovative solutions for managing their workforce across the full spectrum of talent – from traditional staffing to professional and technical specialties, to outsourcing and consulting programs,” he said.
Kelly also reported that on May 8, its board of directors declared a dividend of $0.05 per share. The dividend is payable June 4, 2012 to shareholders of record as of the close of business on May 21, 2012.
In conjunction with its first quarter earnings release, Kelly Services, Inc. will host a conference call at 9:00 a.m. (ET) on May 9, to review the results and answer questions. The call may be accessed in one of the following ways:
Via the Telephone:
U.S. 1 800 288-9626
International 1 651 291-5254
The pass code is Kelly Services
The call is also available via the internet through the Kelly Services website:
www.kellyservices.com
This release contains statements that are forward looking in nature and accordingly, are subject to risks and uncertainties. These factors include, but are not limited to, competitive market pressures including pricing, changing market and economic conditions, our ability to achieve our business strategy, including our ability to successfully expand into new markets and service lines, material changes in demand from or loss of large corporate customers, impairment charges triggered by adverse industry or market developments, unexpected termination of customer contracts, availability of temporary workers with appropriate skills required by customers, liabilities for employment-related claims and losses, including class action lawsuits and collective actions, liability for improper disclosure of sensitive or private employee information, unexpected changes in claim trends on workers’ compensation and benefit plans, our ability to maintain specified financial covenants in our bank facilities, our ability to access credit markets and continued availability of financing for funding working capital, our ability to sustain critical business applications through our key data centers, our ability to effectively implement and manage our information technology programs, our ability to retain the services of our senior management, local management and field personnel, the impact of changes in laws and regulations (including federal, state and international tax laws and the expiration of the U.S. work opportunity credit program), the net financial impact of recent U.S. healthcare legislation on our business, risks associated with conducting business in foreign countries, including foreign currency fluctuations, and other risks, uncertainties and factors discussed in this release and in the Company’s filings with the Securities and Exchange Commission. Actual results may differ materially from any forward looking statements contained herein, and we have no intention to update these statements.
About Kelly Services®
Kelly Services, Inc. (NASDAQ: KELYA, KELYB) is a leader in providing workforce solutions. Kelly® offers a comprehensive array of outsourcing and consulting services as well as world-class staffing on a temporary, temporary-to-hire and direct-hire basis. Serving clients around the globe, Kelly provides employment to more than 550,000 employees annually. Revenue in 2011 was $5.6 billion. Visit www.kellyservices.com and connect with us on Facebook, LinkedIn, & Twitter. Click to download The Talent Project, our free iPad app.
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ANALYST CONTACT:
(248) 244-4586
james_polehna@kellyservices.com
MEDIA CONTACT:
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jane_stehney@kellyservices.com