ManpowerGroup News Release (10/19/12)

ManpowerGroup today reported that earnings per diluted share for the three months ended Sept. 30 were 79 cents compared with 97 cents in the prior year period. Net earnings in the quarter were $63.1 million compared with $79.6 million a year earlier. U.S. revenues declined by 8%, 7% on a same day basis, from the same period in 2011. U.S. permanent recruitment fees were up 7% over the prior year.

Revenues from the U.S. totaled $760.8 million for the quarter, compared with $828.9 million reported for the same period in 2011. Operating profit for the U.S. stood at $24.5 million for the quarter, compared with $32.1 million for the same quarter in 2011. Revenues from the U.S. totaled $2.26 billion for the nine months ended Sept. 30, compared with $2.37 billion reported for the same period in 2011. Operating profit for the U.S. stood at $39.1 million for the nine-month period, compared with $68.0 million for the same period in 2011.

“We are entering a prolonged period of soft economic conditions,” says Jeff Joerres, ManpowerGroup chairman and chief executive officer. However, he noted that the secular changes that have been driving growth are still occurring. “Companies are relying on the agility model and using us as a large part of that.”