Kelly Services Chalks up Strong Quarter
Kelly Services, a leader in temporary workforce and staffing solutions, recently announced their second quarter financial results ended June 30, 2011. The results confirmed a surge in quarterly profit for the staffing, consulting, and outsourcing giant. Revenue for the second quarter of 2011 totaled $1.4 billion, marking a 16 percent increase compared to the second quarter in 2010.
Earnings from operations in the second quarter of 2011 totaled $21 million, compared to earnings from operations of $8 million reported for the second quarter of 2010. Diluted earnings per share from continuing operations were $0.53 in the second quarter of 2011, compared against second quarter 2010 earnings of $0.11 per share.
“We are pleased that Kelly completed a very strong second quarter, despite the slow moving recovery, said Carl T. Camden, President and Chief Executive Officer. “Solid revenue growth coupled with our ability to effectively leverage a leaner cost structure resulted in improved earnings.”
Moving forward, Camden noted that Kelly’s priorities will maintain a strong focus on maximizing profits across all business lines through its continued dedication to streamlined performance and operational efficiencies.
“A concentration on specialized outsourcing services is also expected to contribute to profits going forward,” Camden said.
“Today’s changing labor markets demand new approaches,” Camden continued. “We are creating custom workforce solutions for customers through our outsourcing and consulting services, and targeting other higher-margin staffing business such as Professional & Technical.”
Kelly also reported that its board of directors declared a dividend of $0.05 per share on August 9, 2011. The dividend will be made payable on September 12, 2011 to its shareholders on August 31, 2011.