BOSTON (Thomson Financial) - Shares of Kelly Services Inc. plunged Tuesday
after the staffing services provider said second-quarter earnings from
continuing operations fell to $10.4 million, or 30 cents a share, from $15.3
million, or 42 cents a share, in the year-ago period.
Results for the latest quarter include 7 cents a share cost of the U.K.
restructuring and 7 cents a share benefit related to the temporary change in the
French payroll tax law.
The mean estimate of analysts polled by Thomson Reuters was for
second-quarter profit of 39 cents a share.
Revenue for the Phoenix-based company rose 3% to $1.45 billion. Analysts, on
average, had estimated revenue of $1.46 billion.
"Given this economic uncertainty continuing to cloud the outlook for our
industry, we have elected not to provide quarterly earnings guidance," the
company said.
Shares of Kelly Services fell 13.2% to $16.98 on volume of 107,466 shares.
The issue's 30-day average volume is about 240,000 shares.
Casey Logan
cl/vj
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|