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ManpowerGroup Reports 2nd Quarter and First Half 2012 Results

ManpowerGroup News Release (07/20/12)

ManpowerGroup today reported that net earnings per diluted share for the three months ended June 30, 2012, were 51 cents, compared with 87 cents in the prior-year period. Net earnings in the second quarter were $41.0 million, compared with $72.7 million a year earlier. Revenues for the second quarter were $5.2 billion, a decrease of 8% from the year-earlier period, or a decrease of 1% in constant currency. U.S. revenues in the second quarter declined 3.6%, from $791.6 billion in 2011 to $763.2 million this year; profits declined 71.6%, from $27.2 million last year to $7.7 million in this year’s second quarter. Included in the current year second quarter results are a reorganization charge of $18.7 million and legal settlement costs of $10.0 million.

ManpowerGroup chairman and chief executive officer Jeffrey A. Joerres says, “We are anticipating the third quarter of 2012 diluted earnings per share to be in the range of 64 to 72 cents.”