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ManpowerGroup Reports 1st Quarter 2012 Results

ManpowerGroup News Release (04/20/12)

ManpowerGroup today reported that net earnings for the three months ended March 31 were $40.2 million, or 50 cents per diluted share, compared with net earnings of $35.7 million, or 43 cents per diluted share, a year earlier. Global revenues for the first quarter were $5.1 billion, similar to the prior year, up 3% in constant currency. U.S. revenues were $735.8 million for the quarter, compared with $750.9 million from the prior year and in line with analysts’ expectations. Net earnings in the first quarter were negatively impacted by 2 cents per diluted share, as foreign currencies were relatively weaker compared with the prior year period.

Jeffrey A. Joerres, ManpowerGroup chairman and chief executive officer, said, “We were able to achieve very solid profitability despite the continued headwinds of slow economic growth. Our geographic footprint, wide range of offerings, and very good expense management contributed to the strong quarter. Our work force solutions business continued to grow by solid double digits while our permanent recruitment business continues to outpace last year.”